Parliament buildings at sunset

This election budget took aim at executives and those who use IPPs, but offered goodies for younger and older clients. Read all about these and other issues that matter to advisors.

Budget 2019 could mean more tax payable for fundholders
Department of Finance expects to gain $350 million by 2024 from proposals

Liberals to impose $200K threshold for tax treatment of stock options
New rules target executives at large firms

Federal budget introduces annuities deferred to age 85
The plan will allow retirees to keep more savings tax-free until later in retirement

Clients day trading in their TFSAs? They’re ultimately liable for the tax
Issuers are only “joint and severally liable” to a point

Liberals offer relief to RDSP holders who lose DTC eligibility
Proposals in the 2019 budget change the time limitations for closing plans

Help for first-time homebuyers
Find out if your client qualifies for the new homebuyer incentive

Feds crack down on commuted value IPPs
Budget measure aims to quash planning that seeks to use IPPs to circumvent prescribed transfer limits

Tax tidbits from Budget 2019: Golombek
Five tax changes clients may ask about

Tax implications of the new first-time homebuyer incentive
Experts highlight the missing details

Feds to introduce automatic CPP enrolment, raise GIS ceiling
The moves are among several budget measures aimed at retirees

Industry reacts to federal budget measures
The skills training tax credit, as well as changes to the stock option tax regime, have been met with skepticism

Government targets certain investment funds that use forward contracts
The change takes aim at funds that seek to reduce taxes through dividend contracts

Other budget highlights
Liberals to offer tax credits for skills training

Federal government’s deficit to grow to $19.8B in 2019-20 fiscal year
Federal debt as a percentage of GDP is expected to be 30.7%