Tax News

The cost of not getting an education

Most people desire to see their children become well educated, and given the burden of financing post-secondary learning, it’s no wonder education planning and savings has become a staple of the financial planning and investment industry. Of course, the most popular method to save for education is the Registered Education Savings Plan (RESP). The benefits […]

By Jason M. Pereira |September 15, 2010

6 min read

Tax News

Taking on the CRA

Once in a while, it’s refreshing to see a financial advisor take on the Canada Revenue Agency over business expenses and ultimately succeed — in getting at least some originally disallowed expenses permitted.

September 1, 2010

3 min read

Tax News

The untapped potential of education savings

Any parent with children heading off to university knows that post-secondary education is an expensive business. This fall, students attending a first year arts program at a typical Canadian university can expect to pay upwards of $10,000 for tuition, fees, room and board. Now, take that first year cost, factor in inflation, multiply by four, […]

By Michelle Munro |August 27, 2010

6 min read

Tax News

Capitalizing on corporate mutual funds

Mutual Fund Corporations have been around for some time now but they really exploded on the scene about 15 years ago. Their popularity was sparked by astute advisors and clients looking for ways to reduce income taxes on investments. As a refresher, a mutual fund corporation is a single entity which establishes multiple share classes […]

By Frank Di Pietro |August 19, 2010

5 min read

Avoiding questionable expenses

How careful are you, as an advisor, in ensuring the business expenses you claim each year at tax time are appropriate, reasonable and properly documented? A recent tax case decided in April (Platis v The Queen, 2010 TCC 150) involved Toronto advisor Peter Platis, a commissioned commodities and foreign exchange broker employed by Refco Futures […]

3 min read

Immigrating can be taxing

There are a variety of income tax consequences associated with immigration to Canada. But with a little planning, tax savings can be had, both currently and in the future. On becoming a resident of Canada, an individual is deemed to have disposed and reacquired most capital property owned immediately prior to establishing residence for proceeds […]

By Gena Katz |August 11, 2010

3 min read

Legacy of the family cottage

Jumping off the dock in the noonday sun, paddling a canoe in the late evening alongside the loons and roasting marshmallows on the bonfire late at night: the beloved cottage is a magical place for many Canadian families. Indeed, in many parts of the country, real estate values of cottages, cabins and other waterfront recreational […]

6 min read

OAS clawback

If I received and subsequently invested a loonie for every client who has bemoaned the dreaded clawback of Old Age Security benefits because their retirement income is too high, the income ultimately generated from that investment alone could be enough to wipe out my own entire OAS benefits! The OAS program is an important component […]

3 min read

Withdrawal strategies

Here is a situation that could be described as a financial advisor’s dream. An advisor has been referred a well-to-do retired couple who are seeking a second opinion on their finances. Their main goal, naturally, is to generate enough income to keep them in the style to which they have become accustomed. But, they also […]

6 min read