Tax News

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New rules for employee perks

The federal budget has key changes that will impact ownership and disposition of employer stock options. For those of you with clients who participate in public company employer stock option plans or whose investment portfolios currently include shares acquired under such plans, last month’s federal budget included some important changes that may affect strategies relating […]

By Gena Katz |April 1, 2010

3 min read

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Minding the home front at tax time

They say charity begins at home but this time of year it’s wise to rephrase the old saying to read “effective tax planning begins at home.” This is especially true for financial advisors who spend so much time and energy helping clients figure out deductions that they neglect their own opportunities to save on taxes. […]

By Michelle Munro |March 26, 2010

5 min read

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Celebrating Advice: Driving advice with tax planning

Blair Corkum, CA, R.F.P., CFP, CLU, RHU, FDS President Corkum & Associates Charlottetown Years in the business: 31 About me As a public accounting office, I am not licensed to sell product, and offer advice only on an hourly basis. I consider myself a chartered accountant offering business and tax advice, with a niche in […]

By Blair Corkum |March 15, 2010

4 min read

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Balancing RRSP, TFSA portfolios

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By Staff |March 12, 2010

1 min read

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Parents may be overpaying taxes

It is not easy saving for your children’s education and it seems Canadian parents are making things harder on themselves than they need to be. According to the RBC Tax Planning Poll conducted by Ipsos Reid, 42% of parents with young children are not benefiting from the tax savings that are available to them. Of […]

By John Powell |March 10, 2010

1 min read

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Coming to terms with the HST

This past holiday season, the kids received a DVD of heritage-era cartoons, not the ones with either of the famous big-eared rodents, but instead a collection of fractured fairy tales. One in particular caught my attention – a tongue-in-cheek version of the story of the ant and the grasshopper. You’ll recall the original pitted the […]

March 9, 2010

4 min read

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Maximize tax savings in 2010

Thanks to significant changes in 2008 and 2009, in addition to dependable, long-standing tax planning strategies, you now have many different approaches to help your clients defer their taxes and save this year and for years to come. Here are some discussion points your clients will be grateful you raised: Retirement income In June 2009, […]

By Cindy David |March 1, 2010

5 min read

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Selling down South

Although many Canadians are taking advantage of low U.S. real estate pricing and the strong Canadian dollar to buy U.S. vacation properties, there are many others who have decided to sell their southern homes. It might be due to a financial need, limited use as health declines in older age or an upgrade to a […]

By Gena Katz |March 1, 2010

3 min read

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Making spousal attribution rules work for you

In an ideal world, your clients would be free to shift income between themselves and a spouse. Should there be a difference in tax rates between the spouses, this shifting of income would normally result in tax savings for the family. To prevent widespread income splitting, and presumably, to ensure a certain level of government […]

By Wilmot George |February 25, 2010

4 min read

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A place in the sun

Canadians love Florida, especially its real estate. According to the U.S. National Association of Realtors, Canadians were the largest single group of foreign residential property buyers last year, accounting for 26% of all nonresident purchases. That’s not surprising when there is a sub-prime lending crisis, house prices remain 40% to 50% below peak levels in […]

By Michelle Munro |February 16, 2010

6 min read

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