Entries by Vince Olfert

, ,

The Noise of Budget 2018 – Or Rather The Collective Sigh Of Relief That Was Echoed Across Canada’s Business World

The income sprinkling rules outlined in July 2017 held strong and the rules pertaining to passive investment income weren’t as harsh as predicted. Specifically, Budget 2018 has implemented two simple measures as it pertains to passive investment income: Limiting Access to Small Business Tax Rate Budget 2018 proposed to provide for an alternative reduction to the […]

Beware of Pitfalls When Selling Homes

A recent article in the Investment Executive, Beware of pitfalls when selling homes, draws attention to implications that can arise as a result of the changes that occurred to the Principal Residence Capital Gains Exemption.  The articles mention some important things to be aware of when selling a home that that could interfere with your […]

,

TFSA – How to Use it Effectively!

The majority of people we talk to do not understand how Tax-Free Savings Accounts (TFSA) work or how to best utilize them. This is partly due to how TFSA’s have been marketed by the banks. Here are some key things to know about these valuable tax shelters the government implemented in 2009.

, ,

Are RRSPs Overrated?

Are RRSPs overrated? For many years RRSPs (Registered Retirement Savings Plans) were viewed as the best option available for retirement savings. However, the truth is that there are several variables to consider for your best investment options. Here is a short list of questions to ask yourself: (more…)

,

Big Retirement Mistakes

How to safeguard your retirement… Have you ever been scuba diving? With scuba diving, you need to plan your dive, how long, what depth, do you have the right gear, etc. If you make a big mistake there are no do overs, it could cost you your life. Retirement planning is similar, you only get […]

, ,

Our Biggest Partner in Life

In life and finances, the government is our biggest business partner, usually in the form of taxes. If you are a business owner: 1.  You are a tax collector (payroll taxes, GST, PST). 2.  The government is your business partner (corporate taxes). As a family, taxes are often your largest expense: 1.  Income tax (as […]

Charitable Giving Takes on a New Look

Charitable gifting is about to change. As you may know, currently you can donate cash and receive preferential tax treatment.  For every dollar you donate over $200 you would get a tax deduction of $0.437.  In 2006, the benefits of donating stocks in-kind became substantial because if you donate the stock in-kind to a charity […]