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...
Tax filing season is here and is probably at least in the back of your mind.
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.
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.
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,
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).
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.
Yes, you can have more than one Tax Free Savings Account (TFSA), with different institutions.
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”.
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.
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
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.
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.
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.
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...
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.
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.
During your working life, you may have had one or two sources of income with limited ability to manage the timing of cash flows.
Is your portfolio the result of your goals (or lack thereof)?
In the 1991 movie “City Slickers”, Curly (Jack Palance) asks Mitch (Billy Crystal): “Do you know what the secret to life is?”
We’ve just completed the 2013 edition of the Horizons Retirement Report. This survey is done with Canadians who are approaching retirement.
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?
Saving to buy your first home? Here are 5 things you should know about the new Tax-Free First Home Savings Account (FHSA)
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.
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...
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.
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 (
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:
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:
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
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
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.
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.
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...
To help you organize for the upcoming tax season, here is some pertinent information regarding estimated tax receipt mailing dates.
RGF Integrated Wealth Management offers a customized account management program which combines consistent investment discipline with tax-effective strategies.