By Staff | May 12, 2010 | Last updated on May 12, 2010
3 min read
Previous Brieflies this week: | MON | TUE | WED | THU |

RBC has teamed up with the University of Waterloo to create a research centre focused on retirement needs. The impetus for the RBC Your Future By Design Retirement Research Centre is the looming retirement of boomers.

“With boomers nearing and entering their retirement years, this strategic alliance with one of Canada’s leading universities will provide Canadian boomers with relevant information and innovative ideas to enable their retirement planning and retirement living,” said Ashif Ratanshi, senior vice-president and head, branch investments, deposits and direct investing, RBC.

The centre will focus on research related to areas that influence quality of life in retirement including health, leisure, wellness, lifestyle, financial, economic, science, arts and technology.

“This collaborative approach is the first of its kind where our innovative academic research will assist the financial services industry in the development of practical solutions and advice for retirement planning,” said Roger Mannell, professor and dean, faculty of applied health sciences, University of Waterloo.

RBC is also creating an undergraduate grant program called the RBC Your Future By Design Retirement Research Undergraduate Fellowship at the University of Waterloo. This fellowship is designed to develop expertise in full-time undergraduates interested in retirement and aging and its impact on Canadians, businesses, institutions and systems, and advance the understanding of retirement from health, financial, social, leisure and psychological and health perspectives.

• • •

Canada recognized for low business tax costs

Next time a politician tells you that Canada’s business taxes are too high, remember this: They’re the second lowest in the Western world. In fact, a recent study of 10 major economies by KPMG says that Mexico is the only one with lower taxes.

Canada has climbed one place on the leader board since the last time KPMG conducted this study in 2008.

“Canada has done well in reducing both its federal and provincial corporate tax rates,” says Greg Wiebe, KPMG’s managing partner, tax. “These changes plus the upcoming Harmonized Sales Tax in Ontario and B.C. contributed to Canada’s improved ranking in this year’s report.”

The tax table provides a few other surprises, with the Netherlands ranking third, ahead of Australia and the U.K. The United States placed sixth, followed by Germany, Italy, Japan and France.

The study also rated 41 major cities, with Vancouver, Montreal and Toronto all placing in the top five with lowest business tax costs.

• • •

Desjardins supports sustainable building project

Desjardins Group has announced it will be a major partner of the Centre for Sustainable Development in Montreal, providing $250,000 in financial support and hosting an event this fall to rally citizens and raise funds.

The Centre for Sustainable Development is a non-profit organization working to build an eco-friendly 65,000 square feet building in Montreal which aims to achieve Platinum LEED (Leadership in Energy and Environmental Design) certification.

“We need visionary leaders to move sustainable development forward in Québec,” said Sidney Ribaux, president of the Centre for Sustainable Development. “Through this partnership, Desjardins shows that it’s not afraid to make the first move and offer concrete support to major projects. They’re setting a good example.”

(05/12/10) staff


The staff of have been covering news for financial advisors since 1998.