In this week's edition

The FHSA rules for accumulating contribution room and determining carryforward amounts differ from those governing RRSPs and TFSAs. For example, with an FHSA, unused contribution room isn’t cumulative. Also, running out of time to use the lifetime $40,000 contribution room could be an issue for FHSA holders. Here’s everything you need to know about the FHSA carryforward rules, as well as an overview of the account.

Mutual fund trusts and corporations can flow out their capital gains to fund holders, and given this year’s changes to capital gains tax, they must decide how to do so. The choices: election method or detailed calculation, which will require more work. As one source put it: “A lot will turn on operational issues and what is actually practically possible” for fund managers.

The disability tax credit (DTC) opens the door to several government benefits and programs, in addition to being a valuable tax credit on its own. And the list of benefits now includes access to the new Canadian Dental Care Plan.

Ahead of its upcoming annual general meeting on July 31, Advocis told members that its finances have reached “a stable state” following liquidity challenges in 2022. As the association recovers, it will focus on code of conduct, continuing education and community. Given that conduct — specifically, fiduciary standards and a hypothetical Hippocratic Oath — has generated discussion in this space, many financial advisors with the association will probably watch the recovery closely. They may even contribute to the changes.

This newsletter will break for a couple weeks and resume on the last weekend of July, given my upcoming vacation days. In the meantime, I hope you’re enjoying your summer.