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Catherine Laurin
Tim Anderson

Tel: 514-282-5807
Fax: 514-282-5837
Toll Free: 1-800-363-6732

BMO Nesbitt Burns

1501 avenue McGill College
Bureau 3200
Montréal, QC
H3A 3M8

Tax Planning Strategies

Tax Planning Strategies
2019 Tax Documents Overview and Schedule
To help simplify your tax preparation efforts, we are providing a brief overview of the various tax slips and supporting documents you may receive from BMO, along with their expected availability dates.
Ten Financial Resolutions for 2020
As you consider your financial priorities for the coming year, here are some financial resolutions that could help you save taxes, protect your portfolio, and position you for financial success in 2020.
Donating Appreciated Securities
The benefits of making a charitable donation are countless – from helping those in need to the personal satisfaction of giving back to the causes that are important to us. Charitable giving also makes good sense from a tax perspective. With proper planning, you can reduce your total income tax liability and maximize the value of your donation.
Giving back
There are many ways to give back as you near the exit phase of your business. While starting a private foundation is a popular method to create a legacy for your family, other strategies may better fit your needs and situation. Aside from the benefit of helping others, a major benefit of charitable giving includes tax credits that can be claimed for up to 75% of your net income for the year.1 Generally, almost any property of value can be contributed as a charitable donation, with some restrictions around non-cash gifts.
Taxation of Employee Stock Options
A common incentive program provided by Canadian employers is a stock option plan. These programs grant employees (including directors) the right to acquire a set number of shares of the employer (or parent) company at a fixed price (“exercise price”) within a set timeframe. The intention of these programs is to align employee/employer interests by providing a long-term incentive in which employees benefit from the success of their employer, and likewise, employers benefit from long-term, loyal employees. This publication provides an overview of the Canadian tax implications of stock options issued to employees who are resident in Canada for tax purposes.
Financial Planning Year-End Checklist
As year-end quickly approaches, it’s important to be mindful of potential year-end investment and financial planning strategies and reminders that could help you reduce your 2018 tax bill and prepare you for a successful 2019.
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.
A Guide to the Principal Residence Exemption
One of the most important tax breaks offered to Canadians is the “Principal Residence Exemption” which can reduce or eliminate any capital gain otherwise occurring for income tax purposes, on the disposition of your home.
Contribution Reminder RRSP / TFSA / RESP
Saving for your goals takes committment.That’s why we wanted to remind you of how important it is to maximize the value of your registered/tax-sheltered accounts.
Tax Proposals Affecting Private Corporations
The federal government released an important tax consultation paper on July 18, 2017.
Tax Planning Using Private Companies
Post US Election – US Income and
Many Canadians followed the recent US presidential election and may be wondering whether the US election results will impact their personal tax situation. If you happen to be a US citizen living in Canada or if you have significant US assets, the answer to this question is “maybe.”
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.
How Investment Income is Taxed
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.
The CRA’s Foreign Reporting Requirements
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.
Completing Your 2019 Income Tax Return – Checklist
As the tax filing deadline approaches, here are some reminders to help ensure you’re prepared to file your personal income tax return, and that you maximize your tax savings.
Tax Tips For Investors
Knowing how the tax rules affect your investments is essential. Tax strategies that you should consider such as income splitting, charitable giving and estate planning.
Personal Tax Calendar 2020
Tax planning should be a year round activity, in order to maximize the savings opportunities available to you. The Personal Tax Calendar has been updated for 2020 and summarizes important tax deadlines and provides some planning tips for you to consider throughout the coming year.
Planning for Your Income Tax Refund
Recommendations for using your tax refund to build your net worth.
Canadian Snowbirds and US Income Tax
If you plan to spend your winters in the U.S., you should be concerned with more than just ensuring your passport is up-to-date and that your bags are packed. Snowbirds – Canadian residents who spend part of each year in the United States – need to be aware of the potential liability to pay U.S. income tax on the same basis as a permanent U.S. resident.
Reduce Taxes With A Prescribed Rate Loan
Update on Liberal Federal Income Tax Changes
Summary of some of the key tax pledges made by the newly elected government during its campaign as well as some updates from recent developments on its campaign promises since the new government convened on December 3, 2015.
Tax Planning Involving Family Trusts
A trust can be used in many tax and estate plans to provide tax savings, control and protection. This article provides a comprehensive look at how trusts are defined and taxed, including effective tax planning strategies; namely, using trusts to facilitate income splitting.
New Tax Rules May Affect Your Estate Plan
New tax legislation which originated from the 2014 Federal Budget takes effect on January 1, 2016 and will have significant implications for existing and future testamentary, spousal, alter-ego and joint-partner trusts, as well as affecting testamentary charitable gifts. This article provides a brief summary of the upcoming changes.
US Estate Tax for Canadians
Article explaining the potential cost of US estate tax for the estate of a Canadian