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Resource Centre

Tax Planning

2021 Tax Documents Overview and Schedule

We appreciate that tax season is an important time of year for investors. Depending on your investment holdings and account activity, you could receive a variety of tax slips that you’ll need to prepare your annual tax return. To help simplify your tax preparation efforts we are providing a brief overview of the various tax slips and supporting documents you may receive from BMO, along with their expected availability dates.

Philanthropy

BMO Charitable Giving Program

Philanthropy is an important financial planning consideration for many Canadians, and an integral part of their wealth management plan. A Charitable Gift Fund (“donor advised fund”), established through the BMO Charitable Giving Program, allows you to create a flexible and customized philanthropic solution that will have a lasting impact on causes that matter to you and your family.

Tax Planning Strategies

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.

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.

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.

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.

Managing Your Wealth

Wealth Themes

Wealth Themes is a monthly compilation of timely articles and tools from our experts and other BMO Financial Group partners.

Estate & Succession Planning

Why Pets Belong in Your Estate Planning

Pet owners generally view their pet as a faithful companion and a member of the family. But have you considered what will happen if your pet outlives you? Without proper planning, your pet may face an uncertain fate.

Engaging the next generation

Are they prepared? Children and grandchildren need to get ready for their roles as inheritors.

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

Research

Rates Scenario

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

Education and Knowledge

Networth Newsletter

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

Investing Handbook

Understanding the Three Major Asset Classes:Cash, Bonds and Stocks