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R. Joni Ganderton MBA CFP
Sandee Kent
Jamie S. Wilson
Nicco Bautista, LLB, MA
Kirk O'Brien, CPA, CMA, MBA, CFP, TEP
Eleanor Johnsen, FCSI
Melanie Wakely, PFP

Tel: 1888-267-8111
Tel: 250-537-1654

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BMO Nesbitt Burns

152A Fulford Ganges Rd
Salt Spring Island, BC
V8K 2T8
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Tax Planning Strategies

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.

Completing Your 2020 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 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.

Personal Tax Calendar 2021

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.

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.

Tax Planning Involving Family Trusts

Trusts are often used in tax and estate planning because of the flexibility they offer over the control, management and distribution of appreciating assets. In particular, the use of a discretionary family trust to reduce the after-tax cost of children’s educational and other expenses is a common tax strategy and the focus of this publication.

New Tax Rules May Affect Your Estate Plan

New tax legislation which originated from the 2014 Federal Budget will take effect on January 1, 2016. These changes 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.

Managing Your Wealth

BMO Wealth Institute Report

Make better investment choices by understanding and reducing bias. BMO Wealth Management provides insights and strategies around wealth planning and financial decisions to better prepare you for a confident financial future.

Wealth Planning Facts & Figures

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

Estate & Succession 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.

Research

Equity Research Strengths & Distinctions

Our goal is to be a leader in investment research, providing investors with insight and actionable money-making investment ideas.

Rates Scenario

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

Economic and Market Updates

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.

Portfolio Strategy

Strategic commentary and an overview of financial markets.

Eligible Dividend Income

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

Education and Knowledge

Networth Newsletter

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

Periodic Table of Asset Class Returns

As the Periodic Table of Returns demonstrates, your portfolio should be well diversified amongst global asset classes to enhance return and reduce risk. Click to read more.

Contribution Reminder for Your RRSP / TFSA / RESP

Maximizing the value of your registered plans by making annual contributions to your Registered Retirement Savings Plan (“RRSP”), Tax-Free Savings Account (“TFSA”), and Registered Education Savings Plan (“RESP”) is an important wealth planning strategy. By making your annual contribution(s) early in the year, you’ll benefit from the tax-sheltered growth all year long.

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.

The Benefits of Going Paperless with BMO Nesbitt Burns Gateway

This article outlines the advantages of converting to eStatements as well as Gateway’s valuable features, such as detailed real-time account information and leading market research.