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Building a Tax Exempt Legacy - It's easier than you might think

I am often asked how one may best leave money to their children & grandchildren.  We all know about RRSPs, TFSAs, & RESPs for saving money for the future, but if you have maximized these strategies what else is there?  This article from Manulife Financial uses the story of "Mike & Sheila" to illustrate how one can put money away for one's children and/or grandchildren today that will be a tax exempt benefit in their hands when they eventually receive it in the future.  CLICK HERE to read the full article and get all the details.

If you would like to leave savings behind for your children and / grandchildren in the most tax effective way, please be sure to contact me.

Other stories

Capital Gains and Losses on Investments - How are they calculated?

I came across this article from Dynamic Mutual Funds that does a very good job explaining how to calculate Capital Gains & Losses on Non-Registered Invesments, what the tax implications are, and how you may have a gain or a loss without actually selling the investment.  CLICK HERE for a link to the full article.

Should you have any questions about your own personal situation please don't hesitate to contact me.

Planning to Travel Outside of Canada?

Ensuring a healthy and safe trip is important.  Since there are a lot of people who head out of the country for their vacation I wanted to share with you what I feel are important things to do before you go. 

The article includes:

1. Reminder to check with your Provincial Health Authority
2. Reminder to carry your Insurance information with you
3. Reminder to find out about the risks and where to go for help
4. Reminder that when you travel abroad, make sure you know the location of the nearest Canadian embassay or consulate
5. A handy reminder checklist of things to do before you go

CLICK HERE to read all the tips from Manulife Financial in more detail.

Why a Tax Refund is No Reason to Celebrate

Put your hard earned money back in your pocket.  The idea of a tax refund, particularly a large refund, is cause for celebration for most people, but it shouldn't be.  The reality is that a tax refund means you have paid the Canada Revenue Agency (CRA) too much tax throughout the year.  In essence, you have provided the government with an interest-free loan.  The larger the refund, the larger the loan amount. 

You shouldn't have to wait until the following spring to get your money back.  Fortunately there is a way to correct the situation.  CLICK HERE to read the solution & full article from Manulife Financial.

Should you have any questions partaining to this article, or any of the above, please do not hesitate to contact me.

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