Is your TFSA deemed to be carrying on a business? Your gains could be taxable as income!

This article from Advisor.ca just came across my desk. It seems the CRA (Canada Revenue Agency) is against Canadians using the TFSA (Tax-Free Savings Account) for multiple and regular trades. Read More…

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Investing in Real Estate

Do you want to purchase your first home or add a real estate investment to your portfolio?

Watch this video…

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Estate Planning: is it for you?

Most people think Estate Planning is not for them. The truth is, Estate Planning is for anyone who owns anything.

Read More and watch the video…

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Your RESP and Changes to the UCCB (Canada)

The Government of Canada has introduced changes to the UCCB (Universal Child Care Benefit) as of January 2015. These changes have:

  • increased the annual limit to $1,920 ($160 per month) from $1,200 ($100 per month) for each child under the age of six
  • expanded to provide $720 annually ($60/month) for each child aged six through 17
  • the benefit is taxable
  • child amount credit is eliminated

The first enhanced payment will be issued in July 2015 and will include any retroactive payments for the period of January to June 2015. As you can see, these changes will also affect your taxes.

This may be a good time to discuss RESPs and the expense of post-secondary education. Additionally, you may also be able to increase the value of your RESP investment through the Canada education savings grant (CESG) for eligible contributions.

[The basic Canada education savings grant (CESG) is a 20% grant paid by the federal government on the first $2,500 contributed to a RESP each year for a total of $500 (lifetime limit of $7,200). You may also qualify for additional CESG assistance – up to an extra 20% on top of the basic grant.]

Please contact me with your questions. We can set up a plan of action, go over these changes and what they mean to you.

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Two New Articles for Business Owners

Wellness is a trend that has been growing for over a decade (perhaps even longer). Business owners are finding they need to embrace wellness to retain and to attract the best employees. Fortunately, we have two new articles written specifically for business owners. These articles expand in two key areas: financial wellness and health.

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PROFITGuide.com – The Wealthy Entrepreneur

I came across this article and (though I do not pretend to recommend all, if any, of the ideas for all business owners) there are points that need to be considered.

The article goes over: holding companies, capital gains, protection, investing, growth, expenses and pensions.

Have a read and discuss with your Financial Planner to see if any, if at all, of these ideas suit your specific situation. If you have specific questions, you could always call me 604-732-1508 ext. 453

Enjoy!          PROFITGuide.com – The Wealthy Entrepreneur

Posted in 2012, 2012 August, Business Owner | Leave a comment

What’s going in the markets? Would you like to understand more?

I’ve previewed this Market Matters monthly investment commentary from GLC Asset Management Group Ltd. and found it very interesting. If you want to learn more about what’s happening in the markets, please check it out.

Once you have, if you have questions or concerns about how this information affects your investments, please contact me.

If you are on a mobile device you may prefer an audio version here.

Posted in 2012, 2012 May, Accumulation, Investment | Leave a comment