Tax Strategies

TFSA vs. RRSP: How should your client save?

Come January, one of the biggest questions facing financial planners will be “where should your clients put their money — into TFSAs or RRSPs?” There are obvious and not-so-obvious similarities and differences between the two, and this column will evaluate the comparative advantages and disadvantages of TFSAs as well as show how they can be […]

By Michelle Munro | December 8, 2008

5 min read

Protecting RRSPs from creditors

Many people in the financial industry take the view that Registered Retirement Savings Plans (RRSPs) are inferior to registered pension plans (RPPs). The reason? Creditor protection. Members of RPPs have historically been able to sleep a little better at night, knowing their retirement plans cannot be seized by any personal creditors they may have, unless […]

By Frank Di Pietro | October 17, 2008

4 min read

Advisors should embrace the TFSA

On June 18, the federal government passed its 2008 budget bill into law, making the Tax Free Savings Account (TFSA) available to millions of Canadians beginning in January 2009. This day likely failed to resonate with the average Canadian, but I can tell you I certainly paid attention. Ever since the federal government announced the […]

By Michelle Munro | September 2, 2008

5 min read

The benefits of formal trusts

In many Canadian families or family-owned businesses, a simple and straightforward transfer of assets between generations is still very effective. But, as the complexities of today’s society bring issues of asset control, protection or tax reduction to the planning forefront, the use of formal trusts is increasing. Trusts are structures through which property or assets […]

By Carol Bezaire | August 15, 2008

4 min read