Tax

Decorative pattern

Closer look at RRSPs and TFSAs

Since the presentation of the 2008 federal budget, the Tax-Free Savings Account (TFSA) has been receiving extensive coverage in the media and rave reviews from fi- nancial institutions. The perceived advantages of the TFSA are its similarities to the Registered Retirement Savings Plan (RRSP), with the opportunity for high taxadjusted investment returns and tax-advantaged savings […]

By Ashraf Al Zaman |August 1, 2008

10 min read

Decorative pattern

Estate Planning

Structural advantage

Not long ago, a mutual fund wholesaler was in my office touting the benefits of his product offering to my business partner. While the two agreed on the value of the product, they agreed to disagree about its tax efficiency in non-registered portfolios. My partner observed the product wouldn’t be as tax-efficient as some of […]

By Jason M. Pereira |August 1, 2008

7 min read

Decorative pattern

Feds urged to reconsider RRIF withdrawal rules

Currently, after Canadians reaches age 71, they must transfer their RRSP assets into a RRIF or annuity. The Income Tax Act requires RRIF holders to withdraw a minimum of 4% of the beginning-of-year balance at age 65, then an escalating minimum until, from 94 onward, they must withdraw 20% of their balance each year. Of […]

By Mark Noble |July 11, 2008

4 min read

Decorative pattern

Estate Planning

Do you take this prenuptial?

(June 2008) Second marriages, an inheritance from your grandmother, or sizeable retirement assets are a few of the many reasons why more and more Canadians are signing on the prenuptial dotted line. Prenuptial arrangements, while not yet the rage, are becoming more and more commonplace, explains Jim Stoffman, a Winnipeg-based lawyer with 34 years of […]

By Romana King |June 3, 2008

6 min read

Decorative pattern

Estate Planning

Making a couple’s investments work together

(June 2008) A wedding takes a lot of preparation — flowers, food, venue — but one type of planning that soon-to-be newlyweds often overlook is their finances. Many couples, especially if they’re getting hitched for the second time, come into the marriage with separate investment accounts and their own homes, so figuring out what to […]

By Bryan Borzykowski |June 3, 2008

5 min read

Decorative pattern

Estate Planning

Tax matters when your client gets hitched

Pension income amount Amount for children born in 1990 or later Age amount for individuals 65 and over (June 2008) The cake’s been cut, the closets assigned, and your life of living together is in full swing. Whether you’ve gone the formal route or simply shacked-up, come tax filing time the warm and fuzzy will […]

June 3, 2008

6 min read

Decorative pattern

Estate Planning

More Wedding Planner stories

(June 2008) Over the years, Advisor.ca has frequently covered the various financial issues surrounding marriage. Here are a few of the related stories we’ve written about in the past. Women not planning for the unexpected: Let’s face it; more men than women are responsible for the household finances. If life goes as planned, then great, […]

By Staff |June 3, 2008

2 min read

Decorative pattern

There’s more to buying U.S. real estate than finding a deal

(May 2008) While the sub-prime meltdown has been a disaster for stock markets, it’s been a boon for snowbirds. The S&P/Case-Shiller home-price index, which tracks changes in real estate value changes in 20 metropolitan regions across the United States, dropped 12.7% in April, which means more affordable housing for sun-loving Canadians. But buying a home […]

By Bryan Borzykowski |May 12, 2008

6 min read

Decorative pattern

Supreme Court hears interest deductibility case

Wednesday morning, in a jam-packed Supreme Court of Canada, the country’s highest court heard arguments in the now-infamous Lipson tax case, involving interest deductibility and the General Anti-Avoidance Rule (GAAR). So great was the interest in the case that a line snaked its way outside of the courthouse onto the front steps as anxious observers […]

April 23, 2008

4 min read

Decorative pattern

Large RRSPs can mean huge tax burden

(April 2008) It’s likely that most advisors remind their clients at least once a year to contribute to an RRSP. But how many tell them to withdraw? A new TriDelta Financial Partners report notes that many clients accumulate a tax bill of more than $1 million between age 55 and when they die. Frank Wiginton, […]

By Bryan Borzykowski |April 18, 2008

4 min read

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