What to Do Right Now

To use the RRSP contribution receipt for the 2007 taxation year, the deadline to contribute to your RRSP is Friday February 29, 2008.

The maximum RRSP contribution limit for 2007 is $19,000 and $20,000 for 2008.

If you are expecting a tax refund, you’ve been successful in providing the government with an interest-free loan throughout the year. Set up a regular monthly RRSP contribution and request that less tax is deducted from your paycheque. Setting up a regular monthly contribution is a convenient and effortless way to contribute to your RRSP. It means that you don’t have to scramble to come up with cash for a last-minute lump-sum contribution and your contribution is being invested on days when the market may be lower, thereby giving you more value for your money. Call us to set it up.

If you haven’t named a beneficiary for your RRSP and if you don’t have a current will (and powers of attorney for property and personal care), get it done now. Dying intestate, (without a will) is costly and time consuming for your estate. Without a will, your estate is distributed based on relevant provincial regulation. Call us for help or a referral.

With the Canadian dollar the strongest it’s been in 30 years and U.S. large publicly traded companies trading at relatively cheap valuations, now is the best time in years to be buying dividend-paying defensive large cap U.S. companies. We’ll help you focus on companies with significant free cash flow yields and strong balance sheets and defensive businesses that can weather the economic storms we are currently experiencing.