Skip Navigation

Contact Us

Peter Gordon
Paul Larsh
Rhonda Blanch

Tel: 416-359-4084

Address
1 First Canadian Place
38th Floor, P.O. Box 150
Toronto, ON
M5X 1H3
Map

Commentary

Tax Tips for Investors (June, 2018)

https://intranet.bmogc.net/wealth/portal/wealthplanning/Documents/Planning%20Resources%20Canada/Tax%20Planning/General/taxtipsforinvestors_E.pdf

Prescribed Interest Rate (March 20, 2018)

The prescribed interest rate for spousal/family loans is increasing from 1% to 2% effective April 1. However if a prescribed rate loan is implemented by March 31, the current low 1% rate of interest can be locked in throughout the term of the loan, regardless of the rate increase in the 2nd quarter (or thereafter), which will optimize the income splitting benefit of this strategy.

Income Tax Returns for Self-Employed Individuals (June 15)

Deadline for filing a 2017 income tax return if you (or spouse or common-law partner) are self-employed.  It's important to note that any income taxes owing to the CRA or Revenu Quebec should have been paid by April 30.

How Investment Income is Taxed (May 2017)



Image Source: BMO financial Group: How Investment Income is Taxed

When it comes to investment income, all is not equal after tax. Knowing how tax rules affect your investments is essential in order to maximize your after tax return. This publication explains the taxation of investment income held in a taxable account as it pertains to an individual resident in Canada.

How Investment Income is Taxed


Taxation of Investment Income (May 26,2016)
 
It’s important to revisit the taxation of investment income, especially given the changes in the taxation of dividend income over the last few years. Even the most tax-conscious investor may not appreciate how these changes can impact their after-tax returns. It’s also important to remember that there are different tax rates depending on the type of investment income received – including interest, dividends and capital gains – and they are not equal on an after-tax basis.
This report provides an overview on the taxation of eligible dividends, in light of recent changes.