Other sections: Advisor Community | Wealth Planning
When you’re retired, you need an income strategy that balances today’s cash flow needs with an investment strategy to safeguard your ability to produce income in the future.
One factor drives many decisions behind naming a beneficiary for a Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF). When an individual passes away, remaining assets in the RRSP or RRIF are taxed as income at the marginal tax rate on the final return – unless the individual has named a “qualified beneficiary.” A qualified beneficiary is the spouse (or common-law partner), a financially dependent child or grandchild under age 18, or a financially dependent child or grandchild of any age with a physical or mental disability.
Giving a cash gift now to your grandchild brings the satisfaction of seeing your gift make a difference. It can also bring financial benefits. Here’s what you need to know.
The family farm continues to serve an important role in the Canadian economy and, as such, receives special treatment under income tax law.
More specifically, farmers may transfer qualifying family farm interests to next generation family members – children, grandchildren, step-children, or children-in-law – on a tax-deferred basis during their lifetime using the intergenerational farm rollover provisions of the Income Tax Act.
Start government benefits sooner and you collect a smaller monthly benefit, but right away and for a longer time. Delay the start and you receive a larger monthly benefit, but must bridge the waiting period with other resources.
Value of Advice
If you make your maximum allowable contributions each year to your Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Account (TFSA), you won’t face the often difficult RRSP versus TFSA decision. But many families have one or more members who must decide which vehicle is best for their available investment dollars – quite often a lower-income spouse or adult child starting out.
When it’s time to withdraw funds from a Registered Education Savings Plan (RESP), tax planning may be involved. It’s all because an RESP is composed of two pools of money, one taxable and one non-taxable – and you choose the pool for each withdrawal.
When it’s time to pay taxes on your investments, are RRSPs the best choice? See whether RRSPs still win out.
Assante Private Client is pleased to announce the addition of three alternative investment options for their investors. Assante Private Client, a division of CI Private Counsel LP, offers a fully integrated, comprehensive wealth planning program designed exclusively for high net worth individuals, families and business owners across Canada.
Do you or someone you care about qualify for the disability tax credit (DTC)? This federal tax credit is available for eligible individuals who have a severe and prolonged impairment of physical and/or mental functions.
A person gets injured in a skiing accident, can’t return to work for more than two years, and still needs the same income replacement. Another individual who’s working on estate plans needs a solution to cover taxes payable on estate assets. Someone else just recovered from a heart attack but wants extra time to recover before going back to the workplace. These are just a few examples of situations that can be covered by insurance – but not necessarily by a group insurance plan.
TFSAs can be effective solutions for just about any investment objective. See how you can keep your TFSA aligned with your goals, even as they change.
Your child might be at least 18 and old enough to open a Tax-Free Savings Account (TFSA), but may not have the resources to make a contribution.
Most people are familiar with the Old Age Security (OAS) clawback, which reduces the OAS benefit by 15% for every dollar of net income above $77,580 for the 2019 income year. The payment is fully eliminated when net income reaches $126,058.
When retirement approaches, you want to play it safe and protect your nest egg. But you also need to support a retirement that will last decades. We’ve got ways to solve this dilemma.
Just contributing regularly to a Registered Education Savings Plan (RESP) and leaving it alone is an easy trap to fall into. Find out three reasons why you need to monitor and manage your RESP.
You don’t hear much about insurance needs in retirement. So we’ve got you covered with helpful information on life, disability, critical illness, long-term care and private health insurance.
Everything’s more intriguing when it’s little known and under the radar. Especially when the subject is strategies to save you money and put more in your pocket.
Borrowing to invest sounds tempting – you just need investment returns that exceed your loan interest. See why it can be a sound strategy for some investors and too risky for others.
Some investors wonder about contributing more when markets are booming. Or not investing when markets have fallen. Find out why the way you invest now may be the smartest choice.
Investors want to know that companies they invest in do more than turn a profit – they should also respect the environment, society and shareholders. Find out about the ABCs of ESG.
Inflation may leave us helpless when it comes to higher prices. However, there are two ways to get help when it comes to your investments.
Intended to be a virtual currency, it has now become a global investment phenomenon. Part money, part mystery – find out more about the fascinating world of cryptocurrency.
Tolerance to investment risk doesn’t tend to change much until retirement. Learn about three factors that can break this general rule.
It’s said that successfully buying low and selling high only favours the fortunate—but did you know you’re likely benefiting from this investment ideal right now?
Do you have any seniors in your life who may be susceptible to fraud schemes? Find out about common scams so you can watch out for their safety.
We have advisors across Canada to help you reach your goals.
Let us help you be well advised
15 York Street, 2nd Floor
Toronto, ON, M5J 0A3
Main reception: 416-348-9994
© 2022 CI Assante Wealth Management. All Rights Reserved.
Security | Privacy Notice | Legal and Compliance | Accessibility | Site Map