TPC Financial Group endeavours to provide the most comprehensive financial services for its clients. As rules and regulations change that may impact our clients, we strive to provide all necessary information to our clients in a fast and easy to understand way. We also make clients aware of other information that we feel would be beneficial for them personally, or for their corporation.

Below are the monthly newsletters that we have sent to all clients.

March, 2018 - PSA: Beware the Salesman

It certainly didn’t take long for the life insurance industry, and those who sell their products, to praise the February 27th Federal Budget.

What they see is a windfall (for them). What you should see is a potential trap.

Over the last two years there has been a push by life insurance agents to sell life insurance policies as investments. This isn’t new, but what has changed is the story they’re spinning.

In 2016, the story involved tax changes that were coming into effect in 2017. Today it’s the 2018 Federal Budget.

What I hope you take away from reading this is that life insurance should first be seen for what it was meant to be, a risk management tool. It was not designed simply as […]

February, 2018 - 2018 Federal Budget

The 2018 Federal Budget was released on Tuesday, February 27th and clarified a number of items that the Federal Government had proposed in the past year.

In July 2017, Finance Minister Bill Morneau released a discussion paper that proposed a number of tax changes around perceived “loopholes” in the Canadian Tax Act. After a 70-day consultation period ending in October 2017, certain proposals were clarified and a few of the proposals were dropped altogether.

Two of the more contentious proposals were related to income splitting, and the taxation of passive investment income within a corporation. The 2018 Federal Budget clarified these items, and outlined the specific implementation of the new tax changes.

We have outlined the specifics of some of the more impactful changes below. […]

December, 2017 - Revised Income Splitting Rules Announced

On December 13th, Federal Finance Minister Bill Morneau announced revisions to the income splitting proposals set to take effect in 2018. The announcement served to clarify income splitting rules amongst family members and introduced specific tests to determine whether or not a family member is able to receive income from a small business.

For all family members who receive income from a small business that do not meet the revised conditions outlined in Morneau’s announcement, all income will be taxed at the highest marginal tax rate.

Family members who meet the following conditions will not be subject to taxation at the highest marginal tax rates:

The business owner’s spouse, provided the owner meaningfully contributed to the business and is aged 65 or over.
Adults […]

December, 2017 - TPC Financial Group in the News

TPC Financial Group Ltd. was recently named one of Wealth Professional Magazine’s Top Advisory Teams and had the opportunity to provide an interview regarding the services that we offer and what exactly makes us different.

We feel confident that the scope of our services is second-to-none, and are continually looking for ways to provide additional value to clients. We invite you to read the article by clicking the image below and feel free to let us know what you think.

December, 2017 - Understanding Vehicle Expenses

Dear TPC Financial Group Ltd. clients,

Throughout the year, the CRA will have special projects that will look to target certain expenses claimed by businesses across Canada. One recent project resulted in small business owners having to produce receipts for professional fees claimed on their corporate tax returns. More recently, the CRA has been targeting vehicle expenses, asking for gas, insurance, and maintenance receipts along with a logbook to support mileage amounts. With this in mind, TPC Financial Group Ltd. wanted to outline some important items relating to vehicle expenses to ensure that everyone is aware of recordkeeping requirements.

There are two ways to keep track of the business use of your personal vehicles for CRA.


Keep track of the number […]

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