Tag Archives: Tax Planning

Save tax by splitting income with children

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https://www.youtube.com/watch?v=0M8PJh23qwc&t=186s When you think of income splitting, what first comes to mind is likely moving taxable income to a lower-income spouse. But several income splitting opportunities with children are available and worth exploring. The more income you can transfer to others in a lower tax bracket, the more tax you save as a family. Tax […]

What Does The Upcoming Federal Election Mean for Your Investment Portfolio?

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With the upcoming Federal Election on September 20, 2021, Canadians will be heading back to the polls, to cast their votes for candidates who bring promises of change and prosperity for Canadians. Each major political party has brought some big proposals to the table, with several changes that can have an impact on the economy, […]

Take Advantage of the New Tax Break Being Offered by the Government

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The Liberal Government has approved reducing the minimum withdrawal rate for registered retirement income funds (RRIFs) and life income funds (LIFs) by 25% for 2020. This is a one-time opportunity and won’t likely be available after 2020. What does it mean to you? Immediate Tax Savings for 2020… due to reduced RRIF/LIF income. Enhanced Tax […]

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