When a TFSA account holder dies, the tax implications may vary depending on who is named as beneficiary, the type of TFSA, if the value of the account increases after death, and how long it takes to distribute the assets.…
Perseverance Pays
Well needless to say, it has been an ugly start to the year. Thursday May 5th was the 54th worst day in the U.S. stock market since 1995. There have been other ugly days, Sept. 17, 2001, the day the…
Billions of Disability Benefits Left on the Table
The CRA reported that more than 362,000 Canadians under the age of 49 who qualify for the Disability Tax Credit have not opened and taken advantage of a Registered Disability Savings Plan (RDSP); this has left billions of dollars in…
What are Living Benefits?
It’s hard to believe my mom has been residing in an Assisted Living Retirement Community for almost three years. She loves it, her days include socializing, exercise, and various group activities. As a planner, I have always known the importance…
Essential Tax Tips for Late Filers:
Filing you taxes on time is always a good idea even if you expect to receive a refund. But if you are scrambling this weekend to get them done, here are a few tips: 1. This year the tax deadline…