Tax News

Help clients take advantage of education deductions

Is it the growing competition in the workforce, the sluggish economy, or just plain inertia? Whatever the reason, kids are spending more years in university, many of them pursuing expensive graduate studies overseas . For many parents this means outlays for education are higher and longer than originally anticipated. And with these high costs, it’s […]

By Gena Katz |September 1, 2009

3 min read

Understanding offshore investments

It is fairly common to come across a person with a plan that allows them to avoid paying Canadian tax by directing funds to an offshore tax haven country. However, if this plan sounds too good to be true, it probably is. If you are considering directing client funds to an offshore investment or plan, […]

By Bruce Harris, LLP |August 19, 2009

4 min read

Case challenges tax picture for those hit by scandal

Last month, the Ontario Securities Commission announced that the five mutual fund companies implicated in late-trading and market timing activities back in 2003 have been given an additional two years to distribute any remaining settlement monies to affected investors. Coincidentally, the taxation of the settlement amounts received by mutual fund investors who held units in […]

August 1, 2009

3 min read

How does bankruptcy affect an RRSP?

Is my RRSP protected from creditors? Whether it’s nervous clients reviewing their depleted nest eggs, or troubled clients readjusting to a job loss, this is one question financial advisors have probably been asked fairly often in recent times. The easiest answer is: Indeed—in the case of bankruptcy—except for deposits made within the 12 months leading […]

August 1, 2009

4 min read