Tax

Decorative pattern

Selling small business shares

Almost every succession plan for business owners involves the disposition of corporate shares. It might happen as part of an estate freeze, other reorganization or an outright sale to the next generation. Although share dispositions, including sales and transfers, often result in the realization of capital gains, there are opportunities clients should certainly take advantage […]

By Gena Katz |June 21, 2010

3 min read

Decorative pattern

TFSA overcontributions explained

With the June 15th tax filing deadline for self-employed taxpayers (and their spouse or partner) just days behind us, your clients may be surprised to find that they now may be facing another upcoming deadline – June 30, 2010. That’s the due date for filing the brand new RC243, Tax Free Savings Account (TFSA) Return […]

By Jamie Golombek |June 18, 2010

4 min read

Decorative pattern

Pitching disability coverage

Picture this: You have a client – 10 years away from retirement – who comes to you for retirement advice. You spend several hours, maybe a full day with him, going over many different retirement scenarios. At the end of this exercise, you prepare a plan that is as thick as a phone book. In […]

By Jim Otar |June 8, 2010

3 min read

Decorative pattern

Tax-advantaged investing

Investors have been enjoying a broad equity market rally for the past year, but many market commentators are sounding cautious about future gains. It’s a stock picker’s market now, the refrain goes, suggesting that the easy money has been made. On the fixed income side of the portfolio, yields remain stubbornly low, and investors are […]

By Steven Lamb |June 7, 2010

7 min read

Decorative pattern

Making the most of vacation homes

Here’s a know-your-clients question. How many of your clients own vacation homes? If you were to add up all the cottages, condos and time shares, you might be surprised at the extent of second home ownership. Indeed, the value of vacation homes in Canada seems to have exploded over the past decade. Statistics Canada, which […]

By Michelle Munro |May 27, 2010

5 min read

Decorative pattern

Tax-advantaged investing

Investors have been enjoying a broad equity market rally for the past year, but many market commentators are sounding cautious about future gains. It’s a stock picker’s market now, the refrain goes, suggesting that the easy money has been made. On the fixed income side of the portfolio, yields remain stubbornly low, and investors are […]

By Steven Lamb |May 12, 2010

7 min read

Decorative pattern

The incorporated employee

One of the most litigated personal tax issues in Canada concerns whether a person who provides services to a corporation is acting in his or her capacity as an “employee” or is an “independent contractor.” Individuals often attempt, where possible, to structure their services as independent contractors, since the types of expenses that can be […]

By Jamie Golombek |May 10, 2010

3 min read

Decorative pattern

New rules for employee perks

The federal budget has key changes that will impact ownership and disposition of employer stock options. For those of you with clients who participate in public company employer stock option plans or whose investment portfolios currently include shares acquired under such plans, last month’s federal budget included some important changes that may affect strategies relating […]

By Gena Katz |May 10, 2010

3 min read

Decorative pattern

Get group TFSAs working for you

As an advisor you now have another valuable product on your shelf to introduce to your clients. Most people are trying to catch up with what a Tax Free Savings Account (TFSA) is these days, never mind the “group” part. Let’s start at the beginning and walk through it together. Years ago, the Canadian government […]

By Sue Ricketts |May 5, 2010

5 min read

Decorative pattern

Taxing foreign dividends

Canadian resident investors who hold U.S.-based (or other foreign-based) mutual funds in their non-registered accounts should pay close attention to the potentially negative tax consequences arising from the fact these funds are not considered pass-through type vehicles under Canadian law when it comes to the tax nature of their distributions. Investor Donald Ian Moyes learned […]

By Jamie Golombek |May 3, 2010

3 min read

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