Tax

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Fewer miles to go

Just as tax season is about to come to an end, investment advisors should take note of a recent decision that may affect their own personal taxes as they fi- nalize their 2008 tax returns. The case (Diaz v. The Queen, 2009 TCC 114), heard late last year, involved Aldo Diaz, a selfemployed, investment salesman […]

By Jamie Golombek |April 1, 2009

3 min read

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Low Rates, Big Take

With record-breaking low interest rates, borrowing to invest can be particularly effective right now. And in this low-interest environment, certain planning opportunities that relate to family income splitting, and certain employee loans become particularly attractive. Generally, income arising from an investment that’s funded by a loan made to a spouse, partner, minor children and/or grandchildren, […]

By Gena Katz |April 1, 2009

3 min read

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Hidden Savings

Archie and Marie Roberts were amazed when they received a $27,000 cheque from the CRA. Never in a million years did they expect the money they’d been forking out for special tutoring, counselling and other expenses for their son, would be partially reimbursed by the tax credit system. Although the couple had been filing taxes […]

By Michael Berton |April 1, 2009

5 min read

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How income splitting produces tax savings

Any tax-planning strategy has but a simple goal: to increase the amount of money left in one’s pocket. In the case of couples, whether they are married or living in a common-law arrangement (including same-sex couples), this could mean increasing the combined after-tax income of the couple. When the spouses are in different marginal tax […]

By Michelle Munro |April 1, 2009

6 min read

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Technical brief: Tax credits for science, research and development

Scientific research and experimental development (SR&ED) often evokes images of laboratory technicians and test tubes, but even basic development work — done by many business owners and taxpayers in Canada — may qualify for SR&ED tax incentives. Even if research work is done outside of Canada, recent tax policy changes to the SR&ED investment tax […]

By Vik Sachdev |March 16, 2009

4 min read

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Estate Planning

U.S. pensions and RRSP transfers

In both Canada and the United States, many employers are reducing their workforce numbers. If you have clients who have left jobs in the U.S. to resettle in Canada, you may be able to help them amalgamate their cross-border retirement plans. Under the right circumstances, this can simplify retirement planning and reduce or eliminate the […]

By Carol Bezaire |March 9, 2009

4 min read

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Helping clients invest tax-efficiently

No one ever said that choosing investments is a simple business. For any investor, several factors need to be considered, including age, investment objectives and one’s willingness and ability to tolerate risk. There’s also the impact of taxes on investment returns — the focus of this column. Tax treatments can enhance or diminish returns from […]

By Michelle Munro |March 2, 2009

5 min read

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No credit

As tax season begins, the issue of interest deductibility comes once again to the top of mind of both tax advisors and their clients. Just over a decade ago, the tax law changed so that the interest expense on student loans, while not actually tax-deductible, became eligible for federal and provincial non-refundable tax credits, which […]

By Jamie Golombek |March 1, 2009

3 min read

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Instalment plan

March 15 is around the corner for many of your clients to pay their first income tax instalment for 2009. With people feeling a little financially strapped, you may get some questions as to whether they really have to pay the full amount the CRA has asked for in the request it sent in February. […]

By Gena Katz |March 1, 2009

3 min read

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Think leveraged investing in down markets

Given the market setbacks of recent months and the gloomy economic news that still dominates the headlines, it is not surprising that many investors simply want to sit on the sidelines for the time being. But many of your clients might be better advised to try to recapture the mood and the method that prevailed […]

By Michelle Munro |February 10, 2009

7 min read

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