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Education & Knowledge

Education and Knowledge

Net Worth - Winter 2022

In a perfect world, your final wishes would be carried out as intended. In Canada, you generally have testamentary freedom, which allows you to distribute your estate in the manner you choose, as stated by your Will. However, there are some limits to this depending on various factors including marital status and family structure.

Net Worth - Fall 2021

Over the last few years we’ve seen a drastic shift towards making responsible investing strategies more mainstream. And, since the outset of the pandemic, the demand for investment products that incorporate responsible investing (RI) has surged. But what exactly do these responsible investments entail? Here’s an overview of the five categories of responsible investing.

Net Worth - Summer 2021

One in four Canadians find themselves members of the “Sandwich Generation”—those juggling the needs of both children and aging parents. The good news is, with a little financial planning, you can ease this transition while still protecting your own retirement plans. Here are a few suggestions on how to handle this challenging time.

Net Worth - Spring 2019

On March 19, Finance Minister Bill Morneau unveiled the Liberal Government’s fourth Federal Budget entitled “Investing in the Middle Class”. The key themes of the Budget include housing, training, pharmacare, secure retirement and tax fairness and integrity.

Net Worth - Winter 2019

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.

Net Worth - Spring 2020

In response to the COVID-19 outbreak, on March 18, 2020 the federal government announced an initial economic proposal that included many significant fiscal and tax measures. Since this date, several of these measures have been enacted into law and additional measures proposed to boost the amount of support to Canadians and businesses. The aid package includes a deferral of certain tax return filing deadlines, deferral of certain personal and corporate tax liabilities, a 25% reduction in the required 2020 RRIF minimum withdrawals and wage subsidies for Canadian businesses.

Net Worth - Summer 2020

A potential strategy used by owners of family businesses to transfer wealth or implement a succession plan to manage the tax liabilities on a transfer or death is to “freeze” the value of their shareholdings during lifetime.

Net Worth - Fall 2020

While there are rules governing gifts other than cash, you can contribute almost any property of value, such as securities, RRSPs, RRIFs, life insurance benefits and real estate to a registered charity. In particular, special tax incentives are provided to donations of appreciated publicly-traded securities.

Net Worth - Winter 2020

It’s important to take the time now to get advice and information from your BMO Private Wealth professional, to help you with important financial decisions and your overall wealth management plan for the year ahead. As you consider your financial priorities for the coming year, here are some financial and tax planning resolutions that could help you save taxes, protect your portfolio, and position you for financial success in 2021.

Net Worth - Spring 2021

For many Canadians spring signals the arrival of their income tax refund from the Canada Revenue Agency (the “CRA”), or Revenu Québec (“RQ”) if you also file your taxes in Quebec. If you’re receiving a tax refund based on your 2020 income tax return, it may be worthwhile meeting with your BMO Private Wealth financial professional to discuss how you can maximize the use of these funds, such as repaying non-deductible debt, or making/catching up on your Registered Retirement Savings Plan (“RRSP”), Tax-Free Savings Account (“TFSA”), or Registered Education Savings Plan (“RESP”) contributions

Net Worth - Spring 2015

In this issue of Net Worth, topics covered include the value of a financial plan, your income tax refund, and newe rules in the most recent federal budget that affect your estate plan.

Net Worth - Summer 2015

My Summer Newsletter is now available. This quarter features an in depth, 2015 Federal Budget review and the advantages of designating a beneficiary.

Net Worth - Summer 2016

In this month's issue: • Do you have a retirement game plan? • Personal Holding Companies - Taxation of Investment Income.

Net Worth - Fall 2016

In this issue of net worth: education planning, navigating your retirement income streams, relocation to the United States, and Executor vs. Trustee.

Net Worth - Spring 2017

In this issue of net worth: 2017 Federal Budget Summary and Tax Filing Updates

Net Worth - Summer 2017

In this issue of net worth: Complex family dynamics call for clear and effective estate planning, Love and Marriage and... Contracts, and Who will take care of my pets when I die?

Net Worth - Summer 2018

In this issue of net worth: make better investment choices by understanding and reducing bias and US Estate Tax - Impact to Canadians of recent US Tax Reform.

NetWorth - Fall 2018

In this issue of net worth: creating wealth through business improvements and 2018 year-end tax planning tips.

Net Worth - Winter 2018

A windfall can be defined as the unexpected or unplanned acquisition of financial assets that alters the recipient’s financial position. This can be a welcome surprise, but the pressure of managing and dealing with a significant amount of money can also be an unforeseen burden.