Year End Planning

2013 Year-End Tax Planning for Individuals

by Portfolio Advisory Group on December 2, 2013

Kevin Y. Tran, Director of Tax Advisory Services. As the 2013 year is coming to an end, individuals should be mindful of year-end tax planning opportunities that will need to be implemented prior to December 31st. The following are some popular tax planning items that individuals should be aware of this year.

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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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The deadline for 2010 RRSP contributions is Monday, March 1st, 2011. The maximum contribution limit is $22,000. For those of you ahead of the curve, the contribution limit for the 2011 taxation year is $22,450. We hope this information is helpful to you. If you have questions or concerns related to your situation, please contact […]

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Year End Securities Trading Considerations

by Bev Moir on December 6, 2010

Final trade date for security transactions for Toronto trades is December 24, 2010. Final trade date for securities transactions through New York is December 28, 2010. Key: Settlement must take place not later than December 31st. Consider delaying the purchase of annual pay/accrual fixed income securities (e.g. 1 year TBill or annual pay GIC) until […]

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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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