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While generally a cause for celebration, retirement often comes with its fair share of financial anxiety. Research indicates that many people fear outliving their savings, resulting in an inability to enjoy life to the fullest throughout retirement.
The adage, "Discretion is the better part of valour," has never been more pertinent as the U.S. Federal Reserve cautiously navigates between the perils of inflation and deflation. In the world of economic policy, the Federal Reserve finds itself delicately engaged in a balancing act akin to a tightrope walker traversing a starlit sky obscured by clouds.
In early 2021, I presented a thesis regarding the latest inflation episode and its potential economic implications. At that time, I shared a perspective that differed from the prevailing narrative.
When withdrawing from an RESP, there are a variety of considerations to keep in mind, such as is this the first time the beneficiary is attending post-secondary education, are they attending full or part-time, and what makes the most sense – withdrawing EAP and/or PSE.
A Registered Education Savings Plan (RESP) is a Canadian registered investment account that promotes saving to support a beneficiary’s post-secondary education. Anyone — parents, family and friends — can open a RESP as a “subscriber” for the benefit of a child. Invested contributions grow tax free.
Download our province and territory-specific 2023 Tax Planning Cards. Alberta Tax Planning Card British Columbia Tax Planning Card Manitoba Tax Planning Card
The transfer of family businesses to the next generation has long been a contentious tax issue. Owners rightfully expect the same tax benefits when selling their businesses to their children or other relatives as if they had sold to a third-party purchaser. Fiscal policy, meanwhile, aims to ensure that such sales to family are authentic
Canadians have access to a plethora of tax-preferred vehicles for saving and investing, each of which provides unique planning opportunities and trade-offs, as well as their own rules and conditions that must be followed.
The firm has been strategically preparing for its continued growth trajectory, and this has been a key area of focus and planning over the last six months. Wellington-Altus’ leadership continues to evolve and is ready for this next phase, including an elevated structure for advisor support.
A Registered Disability Savings Plan (RDSP) is a tax-sheltered savings vehicle designed to help families ensure the long-term financial security of a loved one affected by disability.
There is an old saying, “never let a good crisis go to waste.” And true to form, Wall Street is capitalizing on the current chaos within the digital asset space. Many will be surprised, but those who take a minute to review how society has historically absorbed innovations will understand that what’s occurring is quite normal. Blockchain’s time has come, and Wall Street is embracing it.
The First Home Savings Account (“FHSA”) was introduced in the 2022 Federal Budget to address the increasing difficulty Canadians are experiencing in buying a first home due to rising real estate values. The FHSA is intended to help Canadians save and fulfill their dreams of home ownership.
We believe that an AI-driven productivity growth investment boom will be this cycle’s Gold Rush, and when coupled with demographics (Millennials), should provide the catalysts to reignite the secular bull market into the next decade.
Wellington-Altus Financial Inc. today announced that its private wealth division, Wellington-Altus Private Wealth Inc., has retained its top spot as Canada’s number-one investment advisory firm in the 2023 Brokerage Report Card, for the fourth consecutive year.
Background. The Alternative Minimum Tax (AMT)1 is a second, alternate tax liability calculation that Canadian individuals and trusts must consider annually in parallel with their normal tax liability. First introduced in 1986, AMT was implemented to promote and maintain fairness within Canada’s income tax regime.
With the collapse of FTX and the fraud surrounding the crypto space, many have jumped to the incorrect conclusion that the era of blockchain is over, done, akin to the long list of bubbles throughout history. Unfortunately, fraud happens all the time. As former Federal Reserve Chair Alan Greenspan states: “Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.” Thus, the FTX scandal will not stop blockchain—an open-source, transparent, distributed-ledger innovation— from transforming business practices.
Everyone’s situation is unique. Tax is important, but incorporated business owners and professionals should also consider retirement planning, lifestyle and corporate cash flow needs when deciding to take compensation as salary, dividends, or a combination of the two.
Wellington-Altus Financial Inc. (Wellington-Altus), parent company to Canada's top-rated wealth management company*, today welcomed Jon Kilfoyle as Executive Vice-President, Products & Platforms of Wellington-Altus Financial Inc.
For many Canadians who are not otherwise U.S. persons (“Canadian”), owning property in the U.S. may represent an investment opportunity, a home away from home and an escape from the colder winter months.
More than one-fifth of Canadians over the age of 18 are living with disabilities, often with special needs which can entail significant costs. There is a vast network of supports, programs and tax rules designed to assist Canadians and ease the financial burden that can sometimes accompany a disability,
The Tax-Free Savings Account (TFSA) allows Canadians to save and invest funds tax free in order to fund a wide variety of short and long-term financial goals. TFSAs were introduced in 2009 to provide Canadians with an additional tax-advantaged account to augment their savings for longer-term needs such as retirement, or for more immediate goals such as a vacation or vehicle
