Tax Strategies

Estate planning for women

No one likes talking about estate planning. It’s fraught with emotion and can be uncomfortable—after all, it anticipates someone’s death. And women are traditionally even more reticent on the topic than men, preferring to leave the unpleasant details to a spouse or partner. But this is changing, fast. Estate planning is more complex than ever, […]

By Michelle Munro |May 1, 2010

6 min read

Minding the home front at tax time

They say charity begins at home but this time of year it’s wise to rephrase the old saying to read “effective tax planning begins at home.” This is especially true for financial advisors who spend so much time and energy helping clients figure out deductions that they neglect their own opportunities to save on taxes. […]

By Michelle Munro |March 26, 2010

5 min read

New EI rules good for some, bad for others

Beginning January 2010, self-employed individuals (including many financial advisors) can opt into the Employment Insurance (‘EI’) system, thereby qualifying for special EI benefits. Bill C-56, the “Fairness for the Self-Employed Act” received Royal Asset on December 15, 2009. This legislation allows self-employed persons to, for the first time, pay premiums on a voluntary basis – […]

By Carol Bezaire |March 19, 2010

3 min read

Making spousal attribution rules work for you

In an ideal world, your clients would be free to shift income between themselves and a spouse. Should there be a difference in tax rates between the spouses, this shifting of income would normally result in tax savings for the family. To prevent widespread income splitting, and presumably, to ensure a certain level of government […]

By Wilmot George |February 25, 2010

4 min read