Put business assets on ice to save tax
Among the unique tax strategies available to small business owners is an estate freeze. It's used to "freeze" the value of your business and related tax on your death and transfer the future growth and tax liability to the next generation.
So, for example, if you have shares worth $1 million that could grow to $3 million in your lifetime, you can use an estate freeze to cap your taxable assets a...
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Financial impact of a disability
Good news: you survived a serious accident or illness. Bad news: your debt payments and living expenses will continue, or even increase as a result of your disability. And the source of funding for your retirement nest egg and other long-term savings has suddenly dried up. How well did you prepare financially for this scenario? If you are a full-time employee, chances are good that you will rec...
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Expecting a retiring allowance?
If you're leaving a long-time employer and expect to receive a qualifying retiring allowance, there is good news. You may be eligible for a one-time opportunity to slash tax and supercharge your retirement savings. Canada Revenue Agency's definition of a retiring allowance is broad and includes a severance, a court award and unused sick days, to name a few. Such a payment is normally fully taxe...
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This Report is written by Investment Planning Counsel, a fully integrated Wealth Management Company. Mutual funds available through IPC Investment Corporation and IPC Securities Corporation. Securities available through IPC Securities Corporation, a member of CIPF. Insurance products available through IPC Estate Services Inc. Mortgage broker services provided by IPC Save Inc. (ON Lic. #10227).