Category Archives: financial planning

2022 Financial Calendar

    Looking for an “at a glance” document covering all the important dates you need to know to stay on track with your financial planning in 2022?

    Our 2022 financial calendar (which you can easily bookmark or print out) makes sure you’re always in the loop! It lists important dates, including:

    • Payments dates for the Canada Child Benefit, CPP, OAS, and the GST/HST credit.
    • When TFSA contribution room starts again.
    • Tax filing deadlines.
    • Charitable contribution deadlines and the last day to contribute to registered investment accounts.
    • When the Bank of Canada interest rate announcements are.

    Read More

    The Five Steps to Investment Planning

      An investment advisor can help you figure out what the right investment choices are for you.
      The five steps to investment planning are:
      • Meeting your investment advisor
      • Determining your goals and expectations
      • Developing your investment plan
      • Implementing your investment plan
      • Monitoring the plan
      The sooner you start planning for retirement, the sooner you can get there! An investment advisor can help you get there quicker.

      Read More

      Federal Budget 2021 Highlights

        On April 19, 2021, the Federal Government released their 2021 budget. Our article contains highlights of the various financial measures in this budget, divided into three different sections:

        • Business Highlights, including an extension to COVID-19 Emergency Business Supports, new programs to support job creation, and a change in interest deductibility limits.

        • Individual Highlights, including details on the tax treatment and repayment of personal COVID-19 benefits (such as CERB), eligibility changes to the Disability Tax Credit, an increase in OAS for those 75 and up, and support for job skills retraining.

        • Additional Highlights, including a proposed federal minimum wage of $15, changes to the GST New Housing Rebate conditions, and new or increased taxes in areas such as luxury goods, tobacco, and Canadian housing owned by non-resident foreign owners.

        Read More

        Business Owners: 2020 Tax Planning Tips for the End of the Year

          It’s a great time to review your business finances now that we are nearing year-end. We have listed some of the critical areas to consider and provide you with some helpful guidelines to make sure that you cover all the essentials. We have divided our tax planning tips into four sections:

          – Year-end tax checklist
          – Remuneration
          – Business tax
          – Estate

          Read More

          Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

            Finance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:

            • Corporate Tax Changes, including extensions to subsidy programs.

            • Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.

            • Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.

            For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.

            Read More

            Personal Tax Planning Tips – End of 2020 Tax Year

              To help our clients, we’ve put together a comprehensive article filled with great tips on how to get ready for 2020 tax season. Here’s a summary of our personal tax tips article:

              • Details about the different COVID-19 benefits programs and the tax ramifications of them

              • Information about family tax issues including the Canada Child Benefits and tips on how to split income.

              • Managing investments. Details about contributing to various savings plans such as a TFSA, RESP, or RDSP. Also tips on how and when to donate to charity and how to time the purchase or sale of investments.

              • Retirement planning. How to make the most of your RRSP, things to know if you’ve turned 71, and tips on RRIF conversion.

              Read More

              10 Essential Decisions for Business Owners

                Business owners are busy… they’re busy running a successful business, wearing lots of hats and making a ton of decisions. We’ve put together a list of 10 essential decisions for every business owner to consider.

                Read More