Tax

The case for spousal RRSPs

It’s RRSP season. Inevitably, clients who have waited until this final month to make 2010 contributions will ask lots of questions. Beyond “Should I make a contribution at all?” and “What should I invest in?” there is, “Should I contribute to a spousal RRSP?”

By Gena Katz |February 2, 2011

3 min read

TFSAs: Who has them and why

Recent RBC survey data shows how many Canadians have TFSAs, and what they’re doing with them. Looking at the Canadian public as a whole, an overwhelming majority—77%—have heard about TFSAs, but less than half of this group has actually opened one. About 20% have withdrawn money from their TFSAs—most often to cover an emergency. Younger […]

By Staff |February 1, 2011

1 min read

Beware those missing tax slips

Tax slips — whether T4s for employment income, T3s for trust distributions or T5s for investment income — are the CRA’s way of ensuring taxpayers don’t forget to report all their income under Canada’s self-assessment tax system.

By Jamie Golombek |January 28, 2011

3 min read

BMO offers guaranteed retirement income product

BMO has announced the launch of a new guaranteed income product aimed at clients aged 55 and up. The BMO Lifetime Cash Flow product bank deposit backed by BMO and is fully protected against market volatility. The initial deposit (minimum $5,000) provides exposure to a portfolio of BMO Mutual Funds which is rebalanced annually to […]

By Staff |January 18, 2011

1 min read