by Rona Birenbaum BAS CFP®, CHFS | Feb 26, 2024 | All About Tax, Estate Matters
Starting in the 2023 tax year, new trust reporting requirements came into effect that require many Canadians to start filing a trust tax return (specifically, a T3 and Schedule 15 forms). As part of these new rules, many financial structures that were previously...
by Rona Birenbaum BAS CFP®, CHFS | Feb 8, 2024 | All About Investing, All About Tax, Cash Flow Concerns
Launched in April 2023, the First Home Savings Account (FHSA) offers some interesting financial planning opportunities to Canadians who aren’t homeowners. The Basics For those who aren’t familiar with FHSAs, here’s a quick summary of the rules: You can open an FHSA if...
by Sara Ready CFP® | Jan 4, 2022 | All About Tax, Estate Matters
As real estate prices rise in Ontario, so are the related probate fees on that property when settling your estate. Might you be one of the lucky Ontarians that can avoid probate fees on your real estate? If you’ve owned a property in Ontario for at least 15 years, you...
by Sara Ready CFP® | Apr 12, 2021 | All About Tax, Cash Flow Concerns
Given the year we’ve had, many Canadians have been collecting Employment Insurance (EI) benefits. While the basics of EI are well known, it may surprise some recipients that they must repay some of the benefits if their net income exceeds a certain threshold. ...
by Morgan Ulmer CFP® | Jan 3, 2021 | All About Tax, Cash Flow Concerns
Canada’s income tax structure means that the collective tax paid by two spouses each earning $50,000 is less one spouse earning $100,000. This framework is what makes spousal income splitting desirable. Like other income, earnings from a non-registered account are...
by Rona Birenbaum BAS CFP®, CHFS | Sep 8, 2020 | All About Investing, All About Tax, Retirement
Our advice Below is a sample of the various CPP timing recommendations that our firm has made recently. Our advice was customized to each unique situation. One size does not fit all. These are tiny extracts from four financial plans. We’re biased of course, but...