The Invesco Tax and Estate team shares detailed information pertaining to the administration of Invesco Canada registered plans (e.g., RRSPs, RRIFs and TFSAs) and things to consider when designating plan beneficiaries.
Comments Off on Designating direct plan beneficiaries
The Tax & Estate team summarizes the key measures focusing on personal taxation, financial planning, and investment portfolios within Canada’s Federal Budget 2022.
Comments Off on Federal Budget 2022: What does it mean for personal income taxes?
The Tax & Estate team summarizes the key measures focusing on business taxation within Canada’s Federal Budget 2022.
Comments Off on Federal Budget 2022: Assessing the business tax measures
While many individuals feel that they do not have “enough” to warrant the cost of preparing a Will, the estate planning process covers many other aspects than just the Will. Read more from the Invesco Tax and Estate team.
Comments Off on Estate planning is more than just making a Will
In preparation for this year’s RRSP tax season, the Invesco Tax and Estate Team shares 10 tax-savvy tips for investors to consider.
Comments Off on 10 things to think about this RRSP season
Most investors who hold funds (e.g., mutual funds and exchange-traded funds) in non-registered accounts are familiar with how purchases and redemptions affect their adjusted cost base (ACB). However, many are not aware of how distributions affect their ACB. Distributions can impact an investor’s ACB depending on the income characterization of those distributions and whether they are reinvested or paid out in cash.
Comments Off on Tax and estate planning: How do fund distributions affect ACB?
Our previous two blog posts talked about income tax implications when gifting to spouses and adult children. While the income tax implications are significant, the non-tax considerations outlined below may be just as important to keep in mind when making a gift. As always, please consult your advisors and/or other professionals regarding your personal situation.
Comments Off on Tax and estate planning: What you need to know about gifting to family members (Part three)
Our last blog post discussed gifting assets to a spouse. In this blog, we talk about the income tax implications of gifting assets to adult children.
Comments Off on Tax and estate planning: What you need to know about gifting to family members (Part two)
Planning to gift non-registered assets to your spouse or family member? Find out income tax attribution rules and how to do it in a tax-efficient way.
Comments Off on Tax and estate planning: What you need to know about gifting to family members
Our final blog post in the 2021 Federal Budget series covers Sales and Excise Tax Measures.
Comments Off on Federal Budget 2021: Sales and Excise Tax Measures
This is part two of a three-part series focused on the 2021 Federal Budget. Picking up from the first blog post on Personal Income Tax Measures, we’ll cover Business Income Tax Measures.
Comments Off on Federal Budget: Business Income Tax Measures
This is a three-part series focused on the 2021 Federal Budget. In this series, we’ll cover Personal Income Tax Measures, Business Income Tax Measures, and Sales and Excise Tax Measures, International Tax Measures & Other Measures. We’ll first review the tax-specific measures and then summarize the non-tax-specific measures.
Comments Off on Federal Budget 2021: Personal Income Tax Measures
Depending on how an investor holds foreign securities, foreign withholding taxes may apply. Here is a quick reference that walks through four different scenarios.
Comments Off on Foreign withholding taxes on ETF and mutual fund investments
A recent court decision in Ontario may have far-reaching implications, raising questions about the outcome of registered plan beneficiary designations when the beneficiary is a financially independent adult child.
Comments Off on Resulting trusts and registered plan beneficiary designations
This year has been a roller coaster for many people – but, as 2020 draws to a close, we must turn our attention to end-of-year tax planning. Consider these year-end tax tips for your clients.
Comments Off on Year-end tax tips for 2020
Learn how Employment Insurance (EI) benefits and the new Canada Recovery Benefit (CRB) are replacing support offered by the Canada Emergency Response Benefit (CERB).
Comments Off on Transitioning from CERB to EI benefits or the new CRB
Descriptor: An attorney designated in a power of attorney cannot make testamentary dispositions on behalf of a grantor, and this can pose problems in certain situations involving registered plans.
Comments Off on Power of attorney arrangements and beneficiary designations on registered plans
A registered education savings plan (RESP) is an effective vehicle for funding post-secondary education expenses, although the complex withdrawal rules can be confusing. Parents with children who are currently attending or who will be pursuing post-secondary education want to make sure tuition and living expenses are well funded through RESP withdrawals. Parents whose children have already completed their post-secondary education or who have decided not to pursue post-secondary education at all, want to wind down the RESP in the most tax-efficient way. In this article, we go back to basics and review the three types of withdrawals available from an RESP, along with offering some strategic considerations when making a withdrawal.
Comments Off on RESP withdrawals: basic rules and strategic considerations
Our final blog post in this series covers beneficiary entitlements and creditor protection as they relate specifically to locked-in plans.
Comments Off on Locked-in plans: Beneficiary entitlements and creditor protection
