Tax Planning

A Pre- year-end Tax Planning Tip if you have a Corporate Account

by Bev Moir on December 21, 2011

The General Rate Income Pool (or GRIP) is a corporate tax concept that tracks corporate income that has been taxed at high corporate tax rates, and any eligible dividends received from other sources, such as subsidiaries or public companies. Your corporation may have some built up GRIP that should be addressed before the end of [...]

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Enjoying Your Family Cottage Now and Planning for Passing it On to the Next Generation

by Bev Moir on July 25, 2011

From ‘Discovering She’ Magazine, August 2011 Talking with Women About Money – August It’s a HOT summer and I hope you’re enjoying it at your favorite “home away from home,” your family cottage. For many of us, our cottage represents the second largest financial investment we will make. There is, however, an important difference between [...]

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Personal Tax Organizer

by Bev Moir on April 13, 2011

Here is a Personal Tax Organizer to help you prepare to file your income tax. (pdf)

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Tax-Free Savings Accounts (TFSA)

by Bev Moir on December 6, 2010

Introduced in 2009, you can contribute $5,000 each calendar year. That means you could have contributed $10,000 by now and, as of January 2011, you can add another $5,000. The TFSA is a flexible and versatile account offering tax-savings benefits for Canadians over age 18. All income, (interest, dividend, and capital gains) in your TFSA [...]

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Year-End Tax-Loss Selling

by Bev Moir on December 6, 2010

As we approach the end of the 2010 personal taxation year, it’s time to review your portfolio to identify positions currently trading at a loss. When they are sold, you are crystallizing the unrealized loss so that it can be used to offset taxable capital gains. You can use previously realized capital losses, by offsetting [...]

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Financial planners gear up for launch of the new Tax Free Savings Accounts

by Bev Moir on December 8, 2008

From the Insurance Journal by Red Bolton Financial planners across Canada are eagerly awaiting the Jan. 1, 2009 launch of the new tax-free savings accounts (TFSA). “We’re anticipating quite a rush, quite a demand to open in January,” says Bev Moir, a senior wealth advisor with Scotia McLeod. Ms. Moir has already made the necessary [...]

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Tax-Free Savings Account (TFSA)

by Bev Moir on September 10, 2008

A Savings Plan for All Canadians for Their Future The Government proposes to reduce the taxation of savings through the introduction of a Tax-Free Savings Account (TFSA) How the Tax-Free Savings Account Will Work

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2007 Year-End Tax Tips

by Bev Moir on December 11, 2007

The end of another year is once again upon us. And while tax planning is a year-round activity as part of the financial planning process, now’s the time to pay special attention to various tax issues before it’s too late. To that end, this issue of Year-End Tax Tips briefly outlines some of the more [...]

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Canada Pension Plan (CPP) & Old Age Security (OAS)

by Bev Moir on August 9, 2007

Here are links to the Canada Old Age Security OAS program and the Canada Pension Plan CPP: OAS (you can print the 10 page application from here) CPP If you start your pension at 60, your monthly payment is 30 percent lower than if you wait until you’re 65. However, by starting it sooner, you [...]

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Taxable Advantages of Charitable Donations

by Bev Moir on December 4, 2006

Q. I understand that by making a charitable donation, I can reduce my taxable income. I heard that there were some changes to the personal tax rates related to donations in the last federal budget. What are these changes and how can I use them to my advantage? A. Although most charitable donations are motivated [...]

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