Retirement Planning

Retirement planning: CPP/QPP, RRIF and OAS considerations

When the time for retirement arrives, payments from the Canada Pension Plan or Quebec Pension Plan (CPP/QPP), Registered Retirement Income Fund (RRIF), and Old Age Security (OAS) are the main sources of retirement income for many Canadians. It is important to consider these income streams and discuss the planning opportunities with your financial professional as you approach your retirement years. This publication provides an overview of these programs and some factors affecting the decision-making process.
Retirement planning: CPP/QPP, RRIF and OAS considerations

Understanding the Basic RRSP Rules

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.
Understanding the Basic RRSP Rules

Tax Planning Strategies

First Home Savings Account

In the 2022 Federal budget, the Canadian government proposed the introduction of the tax-free First Home Savings Account (“FHSA”). This new registered plan enables prospective first-time home buyers to contribute up to $40,000 toward saving for their first home on a tax-free basis. Similar to a Registered Retirement Savings Plan (“RRSP”), contributions to an FHSA are tax-deductible, and withdrawals to purchase a first home – including from investment income – are non-taxable, like a Tax-Free Savings Account (“TFSA”).
First Home Savings Account

Taking Money Out Of An RESP

This article provides information on how, and when, to withdraw funds from an RESP, as well as information on qualifying educational institutions and programs. In situations where the RESP beneficiary decides not to pursue post-secondary studies or leaves before completing a qualifying program, the subscriber of the plan must decide what to do with the money that has accumulated in the RESP.
Taking Money Out Of An RESP

Canadian Ownership of U.S. Real Property

Many Canadians enjoy spending time in the U.S., and at some point may consider the purchase of a U.S. vacation property. As a result, it is important for Canadians to fully understand U.S. reporting and tax issues related to their ownership of U.S. real property, in addition to any Canadian tax implications.
Canadian Ownership of U.S. Real Property

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.
Donating Appreciated Securities

Growth of a $100,000 Investment (1972 - 2022)

Growth of a $100,000 Investment (1972 - 2022)
Growth of a $100,000 Investment (1972 - 2022)

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.
Having a TFSA works

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.
Pension Income-splitting Provides Tax Planning Opportunities for Couples

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.
Canadian Snowbirds and U.S. Income Tax

Managing Your Wealth

2024 Wealth Planning Facts & Figures

This is a helpful resource summarizing important tax, retirement and estate planning information.
2024 Wealth Planning Facts & Figures

Other

Communication MPB & Associates

Montreal, November 10, 2021 – Bruno Masson, Jean-François Papillon, Sébastien Blais and Michael Cariglia, four experienced investment professionals from BMO Private Wealth, have teamed up to form MPB and Associates. The alliance will enable all four partners to solidify their wealth management service offering and combine their strengths to offer even more bespoke attention to their clients.
Communication MPB & Associates