Please keep the following dates in mind as tax season approaches. If you have any questions, please contact the office – we’re glad to be of assistance. 2016 RRSP Contribution Deadline: March 1, 2017 Please be aware that if you want to deduct RRSP contributions on your 2016 income tax return, they must be done…
On October 3, 2016, the federal government announced an important administrative change for reporting the sales of principal residences. Previously, the government’s administrative position was that you did not have to report the sale of your home (on your income tax return) as long as you lived in it as your principal place of residence…
CBC recently brought Tim onto the news to discuss a recent CIBC settlement, as well as the broader issues relating to financial literacy in Canada. Canadians are becoming increasingly frustrated with the lack of transparency with regards to their finances, which is why we are so dedicated to educating the country with clear and unbiased…
There’s a new set of reporting rules coming to Canadian investment accounts soon, known as CRM2. If you haven’t heard of it you should sit up and take notice, because for a large portion of Canadians it will be nothing more than confusing and deceptive. The Client Relationship Model – Phase 2 (CRM2) is a…
There’s a new set of reporting rules coming to Canadian investment accounts soon, known as CRM2. If you haven’t heard of it you should sit up and take notice, because for a large portion of Canadians it will be nothing more than confusing and deceptive. The Client Relationship Model – Phase 2 (CRM2) is a…
Leading up to the release of the 2016 budget, there was much talk about whether or not the new Liberal government would implement changes that would impact the income splitting opportunities for small businesses. This had the potential to greatly impact a large number of professionals across Canada, and a large portion of TPC Financials’…
Things you should consider if you’re a U.S. Citizen or Green Card Holder On February 19th 2016, I attended a seminar in Victoria put on by Moodys Gartner Tax Law; the subject was “Renouncing Your U.S. Citizenship”. I realize that most of you are not U.S. citizens (dual or otherwise), but we do have a…
Important Dates Please keep the following dates in mind as tax season approaches. If you have any questions, please contact the office – we’re glad to be of assistance. 2015 RRSP Contribution Deadline: February 29 2016 is a leap year, so please be aware that this year’s RRSP contribution deadline is February 29 if you…
New legislation taking effect January 1st, 2016 will affect the taxation of testamentary trusts and could eliminate any benefit to including one in your will; however, before you go out and re-write your Will let’s make sure that you actually need to. In case you’re unfamiliar with a testamentary trust, it’s defined as a trust…
Who Makes Health Decisions if You Can’t? Would you like having your ex-spouse making decisions about you living or dying? I recently read an article in the Wealth Professional written by Nicolas Hefferman titled “Lamar Odom tragedy highlights importance of living wills.” What struck me was that the comatose former NBA star’s ex-wife, Khloe Kardashian, was…