ARTICLES BY CATEGORY: Minimizing taxes
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Important Year-End Tax Filing Information
Posted on 11 Jan 2024
To help you organize for the upcoming tax season, here is some pertinent information regarding estimated tax receipt mailing dates.
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What Happens to a TFSA Over-Contribution
By Ryan Gee on 13 Oct 2023
Saving money in your Tax-Free Savings Account (TFSA) is never a bad idea. One of the perks of living in Canada, aside from its beautiful landscape and friendly citizens, is having the ability to set aside after-tax dollars in a TFSA...
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2022 Tax Planning
By Anthony Ma on 21 Apr 2023
Tax filing season is here and is probably at least in the back of your mind.
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Case Study: Drawing Down Your RRIF Tax-efficiently
By Reg Sangha on 28 Apr 2022
Many of you of have undoubtedly heard the saying from Benjamin Franklin in 1789, “In this world nothing can be said to be certain, except death and taxes.” He was not the first to utter those words nor will he be the last.
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Property Tax Deferment
By Jon Knutson on 26 Jul 2021
While Canadian real estate prices have soared, so has the cost of maintaining a home. Fortunately, there is a government program to help defer one of the costs associated with home ownership.
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The Big Six Bias
By Cory Hill on 09 Jul 2018
Today, many of us have fragmented relationships with our financial institutions. Gone are the days when we would head to our local bank branch to take care of our monthly bills, deposits,withdrawals and update our bank books,
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Q and A: What is an annuity and how does it work?
Posted on 03 Jul 2017
A life annuity is a financial vehicle that allows you to exchange a lump sum of capital for a guaranteed income for as long as you live (or you and your spouse or partner lives).
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Q and A: My wife recently died and I am not clear on how this will change my government benefits or my income tax situation.
Posted on 03 Apr 2017
Answer: One of the major implications for you will be that you will no longer be able to split pension or RRIF (Registered Retirement Income Fund) income on your income tax returns.
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Q and A: Can I have more than one Tax Free Savings Account? With different institutions?
Posted on 03 Apr 2017
Yes, you can have more than one Tax Free Savings Account (TFSA), with different institutions.
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2017 Federal Budget – Thoughts
Posted on 03 Apr 2017
The Federal Budget was delivered in Parliament on March 22, 2017. From a tax perspective, it could be referred to as “The Budget That Wasn’t”.
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Keeping More of what you Earn
By Christian White on 03 Apr 2017
You’ve saved long and hard for many years. You’ve made sacrifices and put your long-term needs ahead of your current desires for that vacation, the newer car or upgrading the kitchen.
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Investing Your Tax Refund: Failing to Reinvest your Refund undermines an RRSP’s efficiency
By Bryn Hamilton on 02 Jan 2017
The idea of a tax deduction against your taxable income and the refund it generates is a very attractive idea to many. That vacation we had been thinking about all year is finally afford- able knowing we have that nice chunk of money c
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Do Corporate Class Mutual Funds Still Make Sense?
By Jon Knutson on 02 Jan 2017
Canadian mutual funds can take the legal form of a trust or corporation. While most funds are structured as mutual fund trusts, some are structured as mutual fund corporations. The latter are also known as corporate class funds.
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RRSPs – Taking Money Out Before Retirement
Posted on 01 Apr 2016
A Registered Retirement Savings Plan (RRSP) is a financial planning tool which is widely used by Canadians. A common assumption is that the funds in this account should not be touched until that glorious era of your life – retirement.
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Case Study: In-Kind Donations to Charities
By Linson Chen on 01 Feb 2015
Cash gifts are the most common way to donate to a charity. It’s a simple way to give and it provides you with a tax credit, but it may not be the most tax-efficient way to donate.
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Case Study: The Case of the Missing Deduction
By Teresa Black Hughes on 04 Jan 2015
The tax return is the traffic circle where assets, income, and life come together. The trouble is that February through April are hectic times for tax preparers and tax payors, and little time may be taken to review...
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Your RRSP Roadmap
Posted on 01 Jan 2015
With the RRSP deadline fast approaching (the deadline for the 2014 tax year is March 2nd, 2015), I wanted to take this opportunity to provide some insight on the rules of the road for RRSPs.
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Case Study: Registered Disability Savings Plan
By John Hale on 30 Dec 2014
Recently, one of my clients explained that their adult son had suffered from mental illness since he was a late teen and they wanted my advice on how they could help him secure his financial future.
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Retirement Income Planning
Posted on 01 Jul 2014
During your working life, you may have had one or two sources of income with limited ability to manage the timing of cash flows.
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Aligning your Goals
By Cecilia Tsang on 01 Apr 2014
Is your portfolio the result of your goals (or lack thereof)?
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The One Thing
By Brett Simpson on 01 Oct 2013
In the 1991 movie “City Slickers”, Curly (Jack Palance) asks Mitch (Billy Crystal): “Do you know what the secret to life is?”
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Horizons Retirement Report 2013
By Clay Gillespie on 01 Jul 2013
We’ve just completed the 2013 edition of the Horizons Retirement Report. This survey is done with Canadians who are approaching retirement.
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How to Access Equity from Your Principal Residence during Retirement
By Clay Gillespie on 12 Apr 2024
For many British Colombians, a large amount of their net worth is tied up in the equity of their principal residence. There are four main avenues to access this equity - all with some advantages and disadvantages
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CRA – Good ideas, higher costs and alerts
By Teresa Black Hughes on 12 Dec 2023
Although we don’t prepare tax returns, we do keep up with what’s happening with Canada Revenue Agency and how that affects our clients.
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What is the Alternative Minimum Tax?
By Brent Vandekerckhove on 15 Aug 2023
You may have heard rumblings about changes to the “Alternative Minimum Tax,” and have perhaps asked yourself, what is this and how does it affect my own situation?
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How Seniors Can Benefit from the Disability Tax Credit
By Daniel Sitar on 13 Jun 2023
The disability tax credit (DTC) can be a powerful benefit for Canadians who qualify. It allows an individual with an impairment or supporting family member to reduce the amount of income tax they pay.
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Pay Down Debt or Invest?
By Nick Hearne on 14 Feb 2023
Extra cash can present a dilemma – is it better to pay down your debt or put the money to work in investments?
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New Savings Options and Tax Changes For 2023
By Bryson Milley on 16 Jan 2023
It’s not often that a new calendar brings interesting new savings and tax changes, but 2023 is an exception.
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First Home Savings Accounts (FHSA)
By Shaun Sun on 20 Oct 2022
Saving to buy your first home? Here are 5 things you should know about the new Tax-Free First Home Savings Account (FHSA)
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Prescribed Rate Loan: An Income Splitting Opportunity
By Linson Chen on 16 May 2022
Income splitting refers to transferring income from high income earners to lower income family members. Income splitting can be used to reduce the total taxes that you pay as a family when members are in different marginal tax bracket
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In-Kind Donations to Charities
By Jon Knutson on 18 Apr 2022
With all that is going on in the world, gifting to those in need is top-of-mind right now. Cash gifts are the most common way to donate to charities - it’s simple and provides you with a tax credit.
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Informal Trusts
By Christian White on 20 Feb 2019
Informal trusts, or ITFs, are a tax-efficient way to provide a savings plan for a minor child. These accounts can be used for funding future education, protecting an inheritance or, as is often the case...
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Income Splitting 101
By Bryn Hamilton on 17 Feb 2017
If you or your partner receive qualified pension income, the federal government’s pension income-splitting provisions could mean extra money in your pocket when you file your income tax returns.
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Canada Child Benefit – How will it affect my family?
Posted on 14 Jun 2016
There were many changes in this year’s Federal Budget and Canadians families should pay attention specifically to the new Canada Child Benefit (CCB). Starting July 2016, this will replace both the former Universal Child Care Benefit (
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How will the new Federal Government impact your finances?
By Mark Neufeld on 15 Dec 2015
Changes are coming with the new Federal government. Not all the details are known yet, but here is a brief summary of some of the changes that may impact your finances:
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What’s so great about a Tax Free Savings Account?
By Anne Hammond on 13 Jan 2015
When the Canadian government first introduced the Tax Free Savings Account (TFSA), it was most often used as a regular bank savings account where the interest was not taxed. But it can be so much more useful than that:
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Estate Planning Tips for Real Estate Investors
Posted on 14 Mar 2014
For many Canadians, the majority of their wealth is held in personally-owned real estate. For most, this will be limited to their principal residence; however, investment in recreational and real estate investment property also form a
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A New Year’s Resolution You Shouldn’t Break – Saving For Retirement!
Posted on 14 Feb 2014
Many of us set New Year’s resolutions for ourselves and often those resolutions have to do with finances. January is the month we say, “Ok, this year I am going to save more and spend less”. By February, sometimes those resolutions are
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Segregated Funds - Investing with a Safety Net
Posted on 16 Jan 2014
Investing today is not for the faint of heart. Fortunately for Canadians, segregated fund products offered by many life insurance companies provide a safety net for nervous investors.
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In-Kind Donations to Charities
By Linson Chen on 01 Feb 2015
Cash gifts are the most common way to donate to a charity. It’s a simple way to give and it provides you with a tax credit, but it may not be the most tax-efficient way to donate.
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The Case of the Missing Deduction
By Teresa Black Hughes on 04 Jan 2015
The tax return is the traffic circle where assets, income, and life come together. The trouble is that February through April are hectic times for tax preparers and tax payors, and little time may be taken to review...
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Important Year-end Tax Dates
To help you organize for the upcoming tax season, here is some pertinent information regarding estimated tax receipt mailing dates.
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Managed Account Fee Schedule
RGF Integrated Wealth Management offers a customized account management program which combines consistent investment discipline with tax-effective strategies.