Helpful Resources

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.

As outlined in our 2024 Federal Budget Review publication, Budget 2024 proposed several important new measures impacting individuals and business owners, most notably the proposed increase in the capital gains inclusion rate (i.e., the amount of a capital gain that is included in income for tax purposes).

When it comes to investment income, all is not equal after tax. Knowing how tax rules affect your investments is essential in order to maximize your after-tax return. This publication explains the taxation of investment income held in a taxable account as it pertains to an individual resident in Canada.

Since Canada represents only a small portion of the world’s capitalization, it may make sense to include some foreign investments in your portfolio. However, it is important to understand Canadian and other foreign tax implications of owning investments outside of Canada.

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

The Importance of Financial Planning

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.

Here are some general considerations to keep in mind when deciding what age to start collecting the CPP retirement benefit and determining how much it will be.

If you own a vacation property, this provides information on the tax consequences of selling a second home and highlights important estate planning considerations, if your plan is to keep your vacation property in the family for the next generation.

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

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 is designed to help your family, executor (referred to as a “liquidator” in Quebec), or Power of Attorney for Property (referred to as a “mandatory” in Quebec) locate all of your important documents and other information needed to administer your estate or act as your Power of Attorney for Property

Rates Scenario, covering currencies and markets outside of the U.S. and Canada.

Strategic commentary and an overview of financial markets.

The Global Equity Weekly provides timely analysis of major economic trends, and how they impact stocks and financial markets more broadly. The latest economic data, interest rate moves and earnings trends all drive the performance of your portfolio. In addition to analysis from the Economics team, this report offers a set of charts and tables to track market performance.

Focus is the flagship publication of the BMO Economics team. This weekly publication covers major economic developments, provides updated forecasts, looks ahead to the key events of the upcoming week, and provides detailed insights into key economic issues.

Our experts provide an overview of recent global events and their impact on the markets.

The 2024 Federal Budget Review was prepared by our in-house BMO Private Wealth tax professionals: John Waters, Vice-President, Director of Tax Consulting Services and Dante Rossi, Director, Tax Planning.

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