Publications

Wealth Planning Facts & Figures

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

Having a TFSA works

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.

Registered Retirement Income Funds

Are All Fees Created Equally?

With upfront knowledge of the cost of investing, you’re able to focus on developing a long-term plan that respects your tolerance for risk and will help you reach your wealth management objectives.

Networth Newsletter

A quarterly publication written by BMO Subject Matter Experts on a variety of timely and relevant wealth management topics.

Teaching your children about money

When a child starts to receive or earn their own money through an allowance, family gifts or a part-time job, their natural instinct is to spend it all. However, it’s never too early to start teaching children the importance of savings, and to respect the fact that money can also serve other goals, like sharing it to help others.

Registered Retirement Savings Plans

Investing in a Registered Retirement Savings Plan (“RRSP”) is one of the soundest ways to ensure you enjoy a financially secure retirement. In order to maximize the benefits of an RRSP, it’s important to have a basic understanding of the rules that govern them.

Registered Retirement Income Funds

A RRIF is very much like an RRSP in reverse. An RRSP is an account designed to help you save for retirement – a RRIF is an account designed to provide annual income in the form of withdrawals from a registered plan during your retirement. Click to read on about how you can benefit from an RRIF.

2022 Federal Budget Review

Finance Minister Chrystia Freeland presented her second Budget (and first from the re-elected minority Federal Liberal government) in the House of Commons on April 7, 2022.

Decoding Responsible Investing

At BMO Private Wealth, we believe that supporting our clients with their increasing focus on sustainability is a great demonstration of a truth that underpins our purpose: Boldly Grow the Good in business and life. We have a proud legacy of innovation and collaboration through the integration of environmental, social and governance ("ESG") issues into our investment processes, while ensuring that investment decisions are always made in the best interests of our clients. Supporting these decisions is a belief that incorporating a range of responsible investment techniques can have a meaningful impact on the creation of long-term investor value.

Portfolio Strategy

Strategic commentary and an overview of financial markets.

Investment Strategy: 2022 Market Outlook

BMO’s outlook on the equity markets featuring Brian Belski, Chief Investment Strategist, to help you prepare for the coming year.

Global Equity Weekly

A look at what happened in the equity markets over the past week and an update on the earnings reports.

The Goods

A Monthly Commodity Watch-Tracks BMO Capital Market's Commodity Price Index and provides commentary and forecasts.

Eligible Dividend Income

This report provides an overview on the taxation of eligible dividends, in light of recent changes.

Rates Scenario

Fixed Income and Foreign Exchange Strategy. Outlines the firm’s short and medium-term interest rate and foreign exchange rate forecasts.

Preparing Your Last Will and Testament

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.

What Happens When a Canadian Resident Dies?

What Happens When a Canadian Resident Dies? discusses what happens to the assets of a deceased Canadian resident from a tax and estate perspective.

Estate Information Organizer

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

“Stress Testing” Your Estate Plan in a Time of Crisis

April 30, 2020: A crisis can be a catalyst for action if you don’t have an estate plan – or even a Will. Here is a checklist to help ensure your estate plan is up to date, reflects your current wishes, and continues to align to your goals.

Estate planning for complex family dynamics

Today, the modern family comes in many different shapes and sizes; this diversity is having an impact on family relationships and the way families interact when addressing estate planning.

Planning for the Family Vacation Property

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.

Tax Planning for the Family Farm

The family farm continues to serve an important role in the Canadian economy and, as such, receives special status under Canada’s tax law. In particular, there are two important tax planning strategies that can be used when transferring a Canadian farm property. The Capital Gains Deduction is available to potentially shelter capital gains realized on transfers of qualified farm property, and the Intergenerational Farm Property Rollover (“Intergenerational Rollover”) permits tax-deferred transfers of farm property to other family members. Both strategies can apply to lifetime transfers (i.e., a sale or gift), or to transfers that take place upon the death of the owner. The rules surrounding these strategies are very complex and only a general discussion is provided here. As with all tax planning, professional advice is critical to understand the specific implications for your situation.

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.

Completing Your 2021 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 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.

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.

Separation, Divorce and Your Financial Plan

Separation, Divorce and Your Financial Plan outlines the financial and tax implications of a breakdown in a relationship for issues relating to both married and unmarried (i.e., “common-law”) spouses.

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.

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.

Canadian Snowbirds and U.S. Income Tax

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.

BMO Nesbitt Burns Gateway®

This article provides an overview of the information and tools available through Gateway. A key feature of Gateway is the ability to access your BMO Nesbitt Burns account statements and trade confirmations electronically by signing up for eDocuments.

COVID-19 Podcast

February 02: In this episode, Sylvain Brisebois, National Sales Manager, BMO Private Wealth is joined by Larry Zelvin, Head, BMO Financial Crimes Unit, for an insightful discussion on the rise in cybersecurity threats and steps we can take to better protect ourselves in the digital world.

Beware of the Parallels Between Today and the Great Depression

May 4, 2020: There is an interesting paradox occurring today where the current economic and market environment is described as ‘unprecedented,’ yet there are consistent parallels drawn between the present circumstances and the Great Depression of the early twentieth century.

Philanthropy Emergency Response Guide

April 30, 2020: As we all adapt to these extraordinary times, many are also considering how to best support those who are in need during the COVID-19 pandemic. The BMO Philanthropic Advisory Services team has developed this Philanthropy Emergency Response Guide containing timely and relevant information on making an impact during the COVID-19 crisis through philanthropy.

Post-Pandemic Economy: Building a Bridge

April 17th: While policymakers, markets, and businesses are all still dealing with the effect and extent of the deep economic downturn, attention is turning to what the economy will look like after the storm. Special report prepared by BMO Capital Markets Economic Research.

Transferring Your Business to the Next Generation

Entrepreneurs who have built successful companies often want to see their business passed on effectively to the next generation. However, a sale or transfer of ownership of the business will generally trigger capital gains tax. If the value of the shares of your business has increased, you or your estate may be burdened with a substantial tax bill. The business may even have to be sold to cover the liability

5 Mistakes in Selling a Business

Selling their company is usually the largest and most challenging financial transaction of a business owner’s life. For most owners, selling a business only happens once and selling the business represents the culmination of their life’s work. Often the business bares their name and holds a place in their heart right next to the kids. For these reasons, selling the business is not just a technically challenging process, it’s also emotionally complex

A Time To Sell: Preparing Your Business For A Potential Sale

As a business owner, the decision of when to sell your business must be carefully planned, and included as part of a long-term succession planning strategy. Planning for the sale well in advance allows you to prepare your business to ensure you’re in a position of strength to negotiate and maximize the proceeds of the sale.

Money talks… so should couples

Cindy and Jeff see eye to eye on most things, but when it comes to spending and investing, they couldn’t be more different.

Separation, Divorce and Your Financial Plan

Separation from a spouse or common-law partner can be a distressing and difficult experience. It is important to understand how a relationship breakdown may affect your future financial situation. Your wealth is comprised of the assets and property owned by you and your former spouse or common-law partner and will be profoundly impacted by a separation or divorce.

Common Money Myths, and Six Steps to Better Finances

Don’t let common money myths stand in the way of pursuing your financial goals. Just because a belief is widespread doesn’t mean it’s true. Some of these money myths may be sidetracking your financial success.

A Sudden Windfall - A blessing, not a burden

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.

Registered Education Savings Plan

At BMO Nesbitt Burns we can help you determine the best way to finance your child’s education and work with you to develop a savings program that helps meet your educational savings goals.

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.

Planned Giving – Optimize Your Gifting Strategy With Insurance

Charitable giving is an important wealth planning consideration for many Canadians. While making a cash donation to charity is a common gifting strategy, Canadians often ask, “How can I do more?” By considering one of the following life insurance strategies, you can often magnify the benefits of your donation dollar compared to a traditional cash donation.

Exploring charitable giving: Understanding donor advised funds and private foundations

Charitable giving is an important goal for many of us. Some donors seek to improve their community, while others, who are financially secure, simply want to give back.

Checklist - More than 10 years to retirement

Prepare now to retire well later.

Checklist - Between 2 and 10 years to retirement

A clear path to retirement requires a clear plan. If retirement is now on the horizon and no longer a distant goal, you’ll want to make sure preparing for it is a priority. Using this time to continue to save and build your assets, while paying off outstanding debt can really make a difference. This is also the perfect time to put some serious thought into what your retirement will look like. This checklist will help you do just that.

Checklist - Less than 2 years to retirement

Transition into retirement with confidence. As you transition into retirement, keep in mind your income could come from multiple sources at different times of the month. You’ll need to know where that income will come from, how much you’ll receive, and when you’ll receive it. Before you retire, you’ll need to complete a variety of employer and government forms. This checklist will help you move into your retirement seamlessly.

Locked-in Retirement Plans

Your RRSP Maturity Options

You’ve saved and invested wisely over the years in a Registered Retirement Savings Plan (RRSP). Now that you’re retiring, you’ll need to use your RRSP savings to supplement your pension and government benefits to create the retirement lifestyle you’ve been planning. The question now becomes, what RRSP maturity option is best for you?

LIF Minimum & Maximum Withdrawal Schedule

Each year the amount that you can withdraw from your Life Income Fund (LIF) will vary depending on your age, the value of your plan at the beginning of the calendar year, and the provincial or federal pension legislation governing your plan.

Residential care checklist

Arranging residential care for an aging friend or relative is often an uncertain process, especially when you are responsible for choosing a nursing home or retirement residence. The following questions may be useful to consider when visiting and evaluating a residence and can be used to assess and compare each option. Use a copy of this checklist at each of the residences you are visiting.

Home care services

Arranging home care services for an aging friend or relative can be a confusing process. Many caregivers are not sure what questions to ask to determine if a home care provider is the right one for their situation. The following list of key questions may be useful to consider when arranging home care services and are designed to help you assess and compare providers. These questions are not exhaustive, but will help you in your search. Use a copy of this checklist for each of the home care providers that you are considering.

Caregiving in Canada

When someone becomes a caregiver, they can often be confused and overwhelmed by trying to find services to assist them in caring for their loved one. Many people do not know what services are available or where to begin to find these services. The good news is there are several options to assist you.

How Investment Income is Taxed