New Liberal tax implications for each of us

As we sit here in the last quarter of 2016, the new tax brackets ushered in by the Federal Liberals are about to become reality as people begin preparing their tax returns early next year. The Liberal web site states: When middle class Canadians have more money in their pockets to save, invest, and grow the…

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Should I take CPP before age 65?

Two thirds of Canadians take their CPP benefits before age 65, but determining what’s best for you demands that you better understand your options. First let’s consider the rules around taking CPP – which changed January 1, 2012. The chart below from www.moneysense.ca provides a nice summary. You can start collecting CPP (Canada Pension Plan)…

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Turn a spouse’s loss into your gain

Before rebalancing a portfolio for a new client, I make it a habit to confirm the Adjusted Cost Base (ACB) of any holdings in non-registered investment accounts. In knowing the ACB, I’m able to know the capital gain (or loss) that would be triggered and the associated tax liability (if any) of selling the portfolio.…

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