Tax Savings

Pension Planning Centre Blog / Financial Planningtitle_li=Investmentstitle_li=Tax Savings

Major Challenges Faced by our Baby Boomers

Learn how to create tax free money. This video describes the major problems faced by baby boomers and offers financial solutions to help.

The Power of Deferral

Michael Nairne, Financial Post · Saturday, Feb. 19, 2011 Wealthy people have a peculiar problem. Yes, they pay a boatload of taxes, but that alone is not the issue. Much of the income of many high net worth investors is taxed at the highest marginal rate. With top marginal rates approaching 50% on interest and other income for most Canadians, this tax bite seriously erodes investment returns. Take a bond yielding 4%, for example. At a 50% tax rate, the after-tax return is only 2%. That is just the tip of the iceberg. This calculation fails to consider inflation. Net Read more…

Do you own property in the US? Estate Tax Rises from the Dead

Jamie Golombek, Financial Post · Friday, Dec. 31, 2010 If you’re a wealthy U.S. citizen or a wealthy Canadian who owns property in the United States or holds significant U.S. equities in your stock portfolio, you may want to be extra wary of who’s pouring your eggnog at Friday’s New Year’s Eve party. That’s because in less than 24 hours, the dreaded U.S. estate tax will resurrect itself from the grave. In other words, die before midnight tonight, no U.S. estate tax. Die on January 1, 2011 or later and your heirs may face an estate tax of 35%. U.S. Read more…

THE RIFF rebels

While Ottawa has so far turned a deaf ear to calls to cut the minimum RRIF withdrawal rates, you can expect political pressure to mount in five years. Why? As always, just watch the Baby Boomers. Much has been written about the first crest of Boomers reaching 65 this year. Six years from now, this leading edge will crash on the shores of forced RRIF withdrawal rates. Tacita Capital president Michael Nairne recently made waves when he described the “dark side” of RRSPs: the often-overlooked fact that they must be converted to Registered Retirement Income Funds at age 71. Retirees Read more…

Rising debts cancel low-rate savings

National Post: September 8 2010 Paul Vieira, Financial Post · Wednesday, Sept. 8, 2010 OTTAWA – Any savings Canadians have realized through this period of near-zero interest rates have been all but wiped out by the large amount of debt households have taken on, new research shows. As a result of the rush into home ownership over the past decade that saw housing prices soar, mortgage principal payments as a share of income are now double what they were in the early 1990s, when interest rates were in double-digit territory. But starting in the early 1990s, rates began a downward trend Read more…

Not Too Late to Block Tax Hike

National Post: September 7 2010 Like millions of school-aged children across Canada, Members of Parliament are returning from vacation to find a stack of information waiting for them. With any luck, it won’t be about running in the halls of Parliament and the dress code for Question Period, but instead will contain an earful from entrepreneurs and working people worried about the Harper government’s first major tax increase. That’s right — a tax increase introduced by the federal Conservations. After several courageous decisions on employment insurance — including the long-overdue separation of the EI fund from general government revenue and Read more…

How to Take Advantage of Income Splitting Using Intra-Family Loans

People often consider tax-saving strategies on an individual basis, but overlook family strategies that can save significant tax dollars. One good example is the income splitting you can achieve by lending money within a family.

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