Recent federal tax changes have made a big impact on family trusts. These changes could make family trusts less beneficial for managing wealth. If you have a family trust or are considering one, it’s important to understand the effects of these new rules. Here’s what you should know about the changes to the capital gains […]
Family trusts have long been a useful tool for many Canadians, offering benefits in estate planning, privacy, and asset protection. However, recent changes in federal tax policy may affect whether a family trust remains the best option for some families. While trusts still hold value in various situations, the new reporting rules and rising compliance […]
In recent years, there’s been a lot of talk in the tax and trust community about new trust reporting rules in Canada. Starting with the 2023 tax year, most trusts have been required to provide detailed information to the CRA. This includes disclosing names, addresses, dates of birth, jurisdictions of residence, and taxpayer identification numbers […]
https://youtu.be/IoTOFZ0v2ds Are you in a season in your life where you’re thinking– “I’m ready to grow my wealth.” “Have more financial security.” We collaborated with Charles Ayodele, Mortgage Broker at Mortgage Broker Finances by Charles Ayodele, to discuss everything about cutting down your taxes on mortgage interest payments! We Can Help We work with business […]
Estate planning is a critical part of securing your financial future, and while most people focus on their physical and financial assets, digital assets are often overlooked. In today’s connected world, our digital footprint is more significant than ever—ranging from online bank accounts and investments to social media profiles and digital subscriptions. So, how can […]
When it comes to estate planning, the goal is simple: to make sure your hard-earned wealth benefits your loved ones in the way you intend. However, the process can seem a bit overwhelming, especially with taxes, legal fees, and family dynamics coming into play. Let’s break it down and look at some straightforward strategies to […]
When it’s time to start using the money saved in a Registered Education Savings Plan (RESP) for your child’s education, there are a few smart strategies to minimize taxes—or even avoid them altogether. RESPs are great because they allow your savings to grow tax-free, and the government matches part of your contributions with Canada Education […]
Your successful career has led you to your 70s, a time when financial planning takes on renewed importance. Now is the perfect moment to review your retirement strategy, ensure your estate plans are in order, and make informed decisions about your financial future. We understand that financial planning can feel overwhelming, but we’re here to […]
Whether the amount is small or large, whether it applies to a couple of years or many, Canadians don’t like their Old Age Security (OAS) pension clawed back. The claw-back is officially known as the OAS pension recovery tax A taxpayer repays 15% of the amount by which their taxable income exceeds the threshold amount, […]
We invite you to attend our Wealth Matters webcast, providing timely investment and global market updates. This session will be hosted by Dr. Greg Wells, a health and high performance expert. He has dedicated his career to studying the science of human limits and developing practical strategies to help individuals and organizations perform at their […]
