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Recent Articles
How Do You Spell Relief? USMCA
After 13 months of sometimes fractious negotiations and waves of uncertainty for Canada’s economy, policymakers and financial markets, we have an agreement to replace NAFTA. Talks nearly went down to the deadline for submitting an in-writing deal to Congress, but the U.S. and Canada have agreed in principle on a new deal, which both leaders have endorsed. Clearly, this is a major relief for Canada, lifting a heavy cloud of uncertainty from the outlook. The one change we are making to our forecast as a result of the deal is one more Bank of Canada rate hike in 2019 (in January).
A Lesson On Financial Considerations
With their hard-earned degrees in hand, most recent graduates are focused on securing full-time employment and building their careers. In addition to these priorities, it’s also important to start planning for their financial future. This article outlines some considerations that can set a recent graduate on the path to long-term financial success. Click here for full article
Tax Planning Strategies
Tax Planning Involving Family Trusts
Trusts are often used in tax and estate planning because of the flexibility they offer over the control, management and distribution of appreciating assets. In an estate planning context, trusts can be used to provide control and protection of assets, reduce probate fees at death or serve as a Will substitute, and as a vehicle to transfer wealth to future generations.
Tax Planning Using Private Companies
As noted in our 2017 Federal Budget summary, the federal government indicated that it would review the use of certain tax planning strategies involving private corporations that it perceives unfairly reduce personal taxes of high-income earners through a variety of tax reduction strategies unavailable to other Canadians.
Estate & Succession Planning
Transferring Your Wealth to Future Generations
Wealth transfer is the most mature stage of wealth management and involves sharing or transferring your wealth to your chosen beneficiaries. Wealth transfer considerations can be as simple as making cash gifts to your grandchildren or as complex as setting up sophisticated trusts as part of your estate plan.
Wills That Work for Your Estate Planning Needs
A Will is a written document that directs how your assets are to be distributed at the time of your death. It should appoint an executor (“liquidator” in Quebec), and provide instructions for all your assets, including your business holdings and your personal effects.
The Consequences of Dying Unprepared
The key to any estate plan is a Will – a written document that directs how your assets are to be distributed upon your death. It should appoint an executor and provide instructions for all your assets, including your business holdings (if applicable), real estate, cash, personal effects, as well as the timeline and manner of their distribution.
Planning for the Family Vacation Property
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.
Education and Knowledge
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 who are considering the purchase of a U.S. residential property to fully understand the U.S. reporting and tax issues related to their ownership of U.S. real property, in addition to any Canadian tax implications.
Economic and Market Updates
The Roller Coaster Market
Stock volatility has increased so far in 2018 and, understandably, this roller coaster feeling is making investors nervous. At times like these, we believe a historical perspective is helpful.