Split business income with family to save tax
From a tax perspective, small business owners are a lucky bunch. They have far more opportunities than salaried workers to split income with family members and cut taxes overall.
The obstacle for most families is the attribution rules, which discourage family members from transferring ownership of investments to a lower earner in order to pay less tax. The disincentive? Depending on the situati...
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Acts of God, Acts of Man and Acts of Foolishness
A well-used adage in the investment world is, "The markets hate uncertainty", and yet we are surrounded by uncertainty. It is actually an understanding of what creates uncertainty that makes us better investors. Here are three broad categories of uncertainties: Acts of God These events are typically hard to predict or avoid, such as tsunamis (Indonesia, 2004), earthquakes (China, Chile, Haiti...
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Going back to school?
When people talk about returning to school, the Lifelong Learning Plan (LLP) is often mentioned as an easy financing solution. Upon hearing this, our team is inclined to raise a flag of caution. We prefer to discuss all available options in the context of the individual's situation. The upside The LLP lets you withdraw up to $10,000 a year from your RRSP to a maximum of $20,000 to finance train...
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This Report is written by Investment Planning Counsel, a fully integrated Wealth Management Company. Mutual funds available through IPC Investment Corporation and IPC Securities Corporation. Securities available through IPC Securities Corporation, a member of CIPF. Insurance products available through IPC Estate Services Inc. Mortgage broker services provided by IPC Save Inc. (ON Lic. #10227).