Manage Your Wealth

Knowing how tax rules affect your investments is essential to maximizing your after-tax return. In addition, keeping up to date on changes to the tax rules ensures that you take advantage of all the tax savings available to Canadian-resident individuals. This article provides an overview of select strategies to assist you in reducing your tax bill.

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.

Although Canadian snowbirds reside in the U.S. for only a part of the year, there is the potential of being considered a U.S. resident and, in turn, having to pay U.S. income tax on the same basis as a permanent U.S. resident. This article outlines how the U.S. government determines whether you are a resident for income tax purposes; namely, it covers the criteria for meeting the Substantial Presence Test, Closer Connection Exception and the Canada U.S. Income Tax Treaty Tie-Breaker Rules.

Donating Appreciated Securities

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.

The attached article, Take the Guesswork Out of Interest Rates With a Laddered Bond Strategy, explains the benefits of bond ladders and provides strategies for implementing a laddered bond strategy within your portfolio.

Managed Portfolio Account Overview

Having a TFSA works. Get one working for you. Whether you’re saving for a new car, a home purchase, your child’s education or retirement, a TFSA can help you reach your financial goals sooner.

This is a helpful resource summarizing important tax, retirement and estate planning information.

Banking on Both Sides of the Border

The attached article – Preparing Your Last Will and Testament – explains various aspects of Will preparation including, the importance of appointing an appropriate executor, life events that warrant a Will review and the use of testamentary trusts.

This article discusses common digital asset considerations and important information for making sure they are properly addressed in your estate plan.

Estate planning is an essential component of a successful wealth management program. A good estate plan will provide you with the peace of mind that comes from knowing your family will be taken care of, and your financial affairs will be in order and administered according to your wishes. An important key element of any estate plan is a Will.

At BMO, we take your security seriously. We are committed to respecting and protecting the privacy and confidentiality of the personal information you entrust to us. It is also important to know how to keep your information secure. This article provides a few simple ways you can protect yourself online, as well as some key reminders for detecting fraud. Please be reminded that these are suggestions and we recommend that you speak to a technology professional about your digital security.

Understanding Exchange-Traded Funds