Tax News

Improving probate planning

A very useful tool for a trustee to tax-manage a trust, whether inter vivos or testamentary, is to employ elections for allocating tax liability on income. Subject to the trust terms and the Income Tax Act, income may be retained in the trust or paid out to a beneficiary, with associated taxes either paid by […]

January 1, 2010

1 min read

The beauty of ETFs

Exchange-traded funds (ETFs) are less expensive than mutual funds by a wide margin. Embedded mutual fund distribution costs – paid to financial advisors for selling them – are most of the difference. Claymore is the only ETF sponsor in Canada paying advisors from a separate ETF series that is 0.50% to 0.75% more expensive. While […]

January 1, 2010

3 min read

HRTC deadline looming

Since the introduction of the federal Home Renovation Tax Credit (HRTC) announced in the January 2009 federal budget, Canadians have been scurrying to renovate outdated bathrooms, leaky roofs, antiquated furnaces and yards in need of landscaping. Now, with the February 1st deadline looming, your clients will need to get their renovation projects completed in order […]

By Frank Di Pietro |December 30, 2009

6 min read

Year in Review – Tax Tips for 2009

15% on the first $40,726 of taxable income 22% on the next $40,726 of taxable income (on the portion of taxable income between $40,726 and $81,452) 26% on the next $44,812 of taxable income (on the portion of taxable income between $81,452 and $126,264) 29% of taxable income over $126,264 These rates are federal only, […]

December 30, 2009

4 min read