Managing Your Wealth

A selection of articles that speak to various U.S. tax considerations for both Canadian and U.S. citizens who have cross border banking needs.
Cross Border Considerations
Owning a home is a financial goal that Canadians strive for. But is it a wise investment? That’s a good question.
Is home ownership a good investment?
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.
BMO Wealth Institute Report

Tax Planning Strategies

The CRA’s Foreign Reporting Requirements for Foreign Affiliates
The CRA’s Foreign Reporting Requirements for Foreign Affiliates
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.
Tax Slips Overview
In late 2021, the Federal government announced that the simplified tax deduction for 2020 allowing employees to claim a flat rate for expenses incurred as a result of working from home due to COVID-19, (without the need to track detailed expenses), will be extended for 2021 and 2022.
Claiming Home Office Expenses on Your 2022 Personal Income Tax Return
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
Trusts are powerful instruments in tax and estate planning. Broadly speaking, a trust is a relationship between a settlor and a trustee in which the trustee holds property transferred by the settlor for the benefit of beneficiaries specified by the settlor. Using this basic framework, a variety of arrangements are possible and significant planning objectives can be met. This article focuses on the tax reporting requirements for trusts, including forthcoming changes to these tax reporting requirements for trust taxation years ending on, or after December 31, 2022.
New Tax Reporting Requirements for Trusts

Economic and Market Updates

Getting Canadian inflation back to the BoC’s 2% target may be more difficult amid underlying pressures even in the face of a stagnating economy.
Inflation Monitor for September 25, 2023
Strategic commentary on equity and fixed income as well as an overview of fixed income markets.
Equity and Fixed Income Strategy Summary
BMO’s outlook on the equity markets featuring Brian Belski, Chief Investment Strategist, to help you prepare for the coming year.
Investment Strategy: 2024 Market Outlook
The Global Equity Weekly provides timely analysis of major economic trends, and how they impact stocks and financial markets more broadly. The latest economic data, interest rate moves and earnings trends all drive the performance of your portfolio. In addition to analysis from the Economics team, this report offers a set of charts and tables to track market performance.
Global Equity Weekly
The extreme strength of the Canadian housing market has been well documented, and bubble talk is raging.
Canadian Housing Fire Needs a Response
A breakdown of market trends in October by Stéphane Rochon, CFA, Equity Strategist and Richard Belley, CFA, Fixed Income Strategist, of BMO Capital Markets
The October Effect

Research

Rates Scenario, covering currencies and markets outside of the U.S. and Canada.
Rates Scenario

Current News / Affairs

The 2023 Federal Budget Review was prepared by our in-house BMO Private Wealth tax professionals: John Waters, Vice-President, Director of Tax Consulting Services and Dante Rossi, Director, Tax Planning.
2023 Federal Budget Review

Education and Knowledge

We are excited to announce BMO’s “Protecting Yourself in the Digital Age” presentation featuring BMO’s Financial Crimes Unit professionals, Doug Malin, John Galluzzo, and Daniel D’Alessandro. Attendees will: • Hear from BMO Financial Crimes Unit professionals on Fraud and Cybercrime challenges pre and post COVID-19. • Learn about BMO’s innovative 21st -century model for global security. • Walk away with tangible information and tools to better secure you and your family. • Have the opportunity to ask questions of our experts.
Protecting Yourself in the Digital Age
Networth Newsletter
Networth Newsletter
What is a Virtual Currency and how does it work? Our BMO Portfolio Advisory Team has a concise explanation of Virtual Currencies.
An Introduction to Bitcoin and Other Virtual Currencies
Tax Proposals Affecting Private Corporations -
Tax Proposals Affecting Private Corporations -
Talking to Your Kids About Money, provides tips and teaching tools that can be incorporated into family conversations, whether a child (or grandchild) is elementary school aged or will soon be heading away to college or university.
Talking to Your Kids About Money
A Cohabitation Agreement is a contract made between a married or unmarried couple who live or want to live together and want to protect their individual interests while determining each person’s rights and responsibilities, should the relationship end in the future. This article explains the types and features of Cohabitation Agreements and provides considerations to determine if you need one.
What Is a Cohabitation Agreement and Do you Need It?

Estate & Succession Planning

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.
Planning for the Family Vacation Property