Tax Planning
Grandparent’s RESP Strategy The Grandparents RESP Strategy might be one of the best gifts you could ever give to your grandchildren. Are you tired of giving the latest toy that only gets played with and after a few hours, the novelty of it is over? Few other gifts will provide the long term benefit than […]
Tax Freedom Day – June 10, 2015 Today is Tax Freedom Day. Every year the Fraser Institute calculates the total tax burden imposed on the average Canadian family by Canada’s three levels of government. If families were required to pay their total tax bill in advance, they would give every dollar they earn to government […]
How Long Should Snowbirds REALLY Stay Out of Canada? Snowbirds and Travelers to the US A lot of retirees travel south each winter to escape the cold. They are probably well aware how their medical coverage through OHIP works (up to 212 days which is effectively 7 months) and hopefully purchase adequate “travel insurance“, so they don’t find themselves in a financial mess should […]
The Value of Financial Planning Study I am a member of the Financial Planning Standards Council (FPSC®). It develops, promotes and enforces professional standards in financial planning through the Certified Financial Planner®/CFP® certification, and raises Canadians’ awareness of the importance of financial planning. FPSC’s vision is to see Canadians improve their lives by engaging in financial planning. A study […]
TFSA versus RRSP The Tax Free Savings Account, TFSA, was introduced in 2009. The current contribution limit for both 2009 and 2010 is $5,000. If you don’t use it, you don’t lose it i.e. the limits are cumulative. Therefore, if you are age 18 or over in 2009, you now have $10,000 of TFSA room. […]