Category: Business Owner
Why Understanding Your Retirement Income Needs Is Essential for a Secure Future
Sep 9, 2024
Retirement is a significant life transition, one that marks the end of your working years and the beginning of a new chapter focused on relaxation, hobbies, travel, and more time with loved ones. However, this phase also comes with financial challenges that require careful planning. One of the most crucial steps in retirement planning is […]
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10 Overlooked Tax Credits and Deductions According To the CRA and Tax Experts
Apr 16, 2024
Every year in Canada, millions of dollars in tax deductions and credits go unclaimed. Here are 10 of the most overlooked deductions and credits that can help minimize your tax bill andmaximize your refund. 1 Union DuesUnion dues can be deducted! Box 44 of your T4 slipswill contain the total amount of dues you’ve paid. […]
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IMPORTANT TAX DATES TO REMEMBER
Dec 30, 2022
No advisor can guarantee a future rate of return, but a good advisor can always guarantee a level of tax savings. There are 5 categories of tax planning:1. Income Deferral2. Income Splitting3. Tax Sheltering4. Income Spreading5. Tax Credit Maximization Ongoing tax planning is the key to reducing your tax burden, while increasing your income.
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Bank of Canada hikes key interest rate to 3.25%
Sep 12, 2022
The Bank of Canada raised its benchmark interest rate three-quarters of a percentage point on Wednesday and signaled that the key rate “will need to rise further” to tackle high levels of inflation. The central bank’s policy rate now stands at 3.25 per cent. This marks the fifth rate hike so far in 2022 — Canada’s key interest rate […]
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