BMO Nesbitt Burns
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A quarterly publication written by BMO Subject Matter Experts on a variety of timely and relevant wealth management topics.
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.
BMO’s outlook on the equity markets featuring Brian Belski, Chief Investment Strategist, to help you prepare for the coming year.
Fixed Income and Foreign Exchange Strategy. Outlines the firm’s short and medium-term interest rate and foreign exchange rate forecasts.
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.
At the time of death, how will the estate of a Canadian resident be distributed? Also, what are the tax consequences and requirements on a Canadian resident's assets immediately prior to death? This publication provides an overview of implications from a tax and estate perspective and outlines the tax treatment and estate consequences of assets owned by a deceased Canadian resident.
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.
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.
The attached article, Understanding Risk: Not All Risk is Created Equally provides an overview on the subject. It identifies some common types of risk and also discusses some measurements of risk and some techniques that can be used to help mitigate against it.
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.
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.
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.
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.
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.