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BMO Nesbitt Burns

200-120 Western Parkway
Bedford, NS
B4B 0V2
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BMO Nesbitt Burns
1675 Grafton Street
14th floor
Halifax, NS
B3J 0E9

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Tax Planning & Strategies

Tax Planning

Planning For Your Income Tax Refund

Many Canadians will receive an income tax refund from the Canada Revenue Agency or Revenu Québec, for those who also file taxes in Quebec. If you’ve received a tax refund based on your income tax return, it may be worthwhile meeting with your BMO financial professional to discuss how you can maximize using these funds, such as repaying non-deductible debt, or catching up on your Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA), or Registered Education Savings Plan (RESP) contributions.

Strategies to Minimize Capital Gains Tax

Towards the end of the year, many investors review their investment portfolios to determine the anticipated tax impact of any capital gains and losses realized during the year. For investors who have realized significant capital gains, this article examines various strategies to help reduce the impact of a potential tax liability of these gains, regardless of whether they were the result of a voluntary or involuntary sale.

Tax Planning Strategies

2022 Personal Tax Calendar

While most Canadians are aware of the April 30 personal income tax filing deadline, there are other important tax deadlines that must be observed over the course of the year – especially if you want to take advantage of certain tax deductions and credits. This calendar summarizes several important dates on the tax calendar and offers some tips to help you with your overall wealth planning. Where a deadline falls on a weekend or a holiday recognized by the Canada Revenue Agency (“CRA”), the deadline is generally extended to the next business day.

Tax Slips Overview

In an effort to help simplify your tax preparation efforts, we are providing you with a brief overview of the various tax slips and supporting documents you may receive from BMO, and their expected mailing dates.

Pension Income-splitting Provides Tax Planning Opportunities for Couples

The pension income-splitting rules provide an effective, yet simple, strategy to lower family taxes. Being able to split pension income provides an opportunity for couples to reduce their overall family tax bill by taking advantage of a spouse’s or common law partner’s lower marginal tax rate where retirement incomes are disproportionate.