Tax Planning
Opening an RESP to fund your child’s education
Learn about the importance of starting to invest early for your child’s education and how to take advantage of government grants […]
Tax Planning
Tax Planning
Filing Your Taxes & Tracking Deadlines
Any Canadian who has had taxes withheld from their pay must file a tax return in order to receive a tax refund. Whether you’re an individual, partnership or a corporation, it’s important to be aware of tax season and deadlines. […]
Tax Planning
Automobile Benefits and Standby Charge
The company car may not be a free ride as tax consequences could arise for the employee […]
Tax Planning
Methods of Income Splitting
Take advantage of income splitting strategies and lower your personal tax bracket by sharing your earned income with family members alike. […]
Tax Planning
IPP vs RRSP
IPP vs RRSP? What’s the difference? You may have heard people ask this. Below we’re giving you the answer. Individual Pension Plan is a employer sponsored defined benefit pension plan whose goal is to provide […]
Tax Planning
Understanding a RCA Pension Plan
A Retirement Compensation Arrangement (RCA) is a pension plan where a custodian holds funds contributed by an employer for the purpose of distributing it to the employee in retirement. A RCA pension plan is often […]
Tax Planning
Withdrawing from a DPSP
When withdrawing from a DPSP, also known as a Deferred Profit Sharing Plan (DPSP), make sure that your vesting period has passed. If you’re wondering what a vesting period is, we’ve detailed it below. To […]
Tax Planning
Withdrawing from a RDSP
Withdrawing from a RDSP must begin before the end of the year the beneficiary turns 60 years old. However, withdrawals can happen at any age but there may be penalties. There are two types of […]
Tax Planning
Contributions to a RDSP
Contributions to a RDSP, Registered Disability Savings Plan, have a lifetime limit of $200,000 but no annual limit amount. Contributions into a RDSP are not limited only to the plan holder. With written permission from […]
Tax Planning
Withdrawing from a LIRA
Withdrawing from a LIRA can be complicated if you don’t know where to begin. Locked In Retirement Accounts requires the completion of applicable forms and meeting certain requirements that vary province by province. As each […]