Some Canadians are fortunate enough to get great workplace benefits. These often include health and dental coverage, a company pension and company share ownership options. Another common benefit is company life insurance (known in the industry as group life insurance).
Over the next two years, almost half of all Canadian mortgages will come up for renewal. This is something that typically happens to most mortgage holders every five years or so.
Starting university is an exciting time for students but can be a stressful one for their parents. While it’s natural for parents to be concerned about where their kids will live or what they’ll eat if they’re studying away from home, the biggest worry may be around how to pay for tuition and accommodation.
Creating a will means making big decisions that will impact your family for years after you’ve gone. While divvying up assets, assigning care for dependants and tax planning will take up most of your will-creating conversation, you’ll also have to consider who should be the executor of your will (or the liquidator in Quebec).
It’s not easy to talk about estate planning; after all, who wants to think about what might happen when they’re no longer here? It’s also a complicated topic, covering investments, tax and real estate, not to mention hard-to-navigate family issues. There’s far more to it than just making a will — find out exactly what’s involved in estate planning. As a result, many people make mistakes or forget important steps when developing their estate plan, which can lead to trouble for their loved ones.
Canadians are pretty good at some aspects of estate planning. Almost half of Canadians have drawn up a will, and that number shoots up to 78% of Canadians aged 55-plus.
The 2024 federal budget tabled by Finance Minister Chrystia Freeland on April 16 contained several proposals that will impact the financial, tax and estate plans of Canadians. The following is a summary of the most relevant budget proposals that may impact Canadians.
In the relentless pursuit of success, Canadian high-net-worth individuals, including CEOs, senior executives, entrepreneurs and managers face a business landscape defined by constant change.
Many of us understand the value of the Registered Retirement Savings Plan (RRSP): almost six million Canadians make RRSP contributions every year.1 Most of us also know about the tax benefits of RRSP contributions and that it’s an extremely versatile and effective retirement planning tool.
Most people think of life insurance as a necessary expense. It’s something that you almost begrudgingly pay for, in the hope that you’ll never need it, but with the expectation that it will protect your family’s finances, should the worst happen.
And are you one of the 32,000 Canadians who’ll have to pay it? Many Canadians haven’t heard of the alternative minimum tax (AMT), which isn’t surprising when you discover that only a small percentage of Canadians typically pay AMT annually. The AMT came into the news recently when the federal government announced significant changes to it in the 2023 budget (which will come into effect in 2024). Let’s take a look at what the alternative minimum tax is, how it works, who it might affect and the impact of those changes.
Higher inflation, a hawkish pivot by central banks and increasing fears of a recession weighed on both equities and fixed income during the second quarter. Unfortunately, there was no reprieve from the volatility of the first quarter.