Tax News

Protecting RRSPs from creditors

Many people in the financial industry take the view that Registered Retirement Savings Plans (RRSPs) are inferior to registered pension plans (RPPs). The reason? Creditor protection. Members of RPPs have historically been able to sleep a little better at night, knowing their retirement plans cannot be seized by any personal creditors they may have, unless […]

By Frank Di Pietro |October 17, 2008

4 min read

Nervous clients can take tax loss

Although most advisors would tell their clients not to sell, even as their portfolios take a big hit, a lot of investors are still getting out of the market. Luckily for panicky clients, bailing out of tanking investments means they’ve just accumulated capital losses. The benefit of a capital loss is that it can be […]

By Bryan Borzykowski |October 14, 2008

3 min read

Tax Break: Untaxed savings

Canadians have been asking for it for years and finally, beginning 2009 they’ll have a new tax-assisted savings vehicle—the Tax-Free Savings Account (TFSA). The mechanics of the TFSA are relatively simple. All Canadian residents, 18 and older, will be permitted to contribute up to $5,000 annually. The contribution amount, which is not tax-deductible, will be […]

By Gena Katz |October 8, 2008

3 min read

How does the TFSA stack up to its U.S. and U.K. counterparts?

One of the benefits of living in an interconnected world is that we can draw on the experiences and lessons from different countries to successfully manage new product rollouts in Canada. While other countries don’t have the exact same Tax-Free Savings Account setup as we will, it’s still worth looking at similar products around the […]

October 8, 2008

5 min read