Many business owners know the important role that life insurance plays in effective corporate planning. Whether it be the funding of a shareholder’s agreement, life insuring corporate debt, or protecting against loss from the death of a key employee, life insurance is of great value in underpinning the financial success of a corporation.
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The 2018 Ontario budget features a number of new measures and billions of dollars of enhanced spending across the spectrum, as announced by the province’s Finance Minister, Charles Sousa. Read on for some of the key proposals.
Several key changes relating to personal financial arrangements are covered in the Canadian government’s 2018 federal budget, which could affect the finances of you and your family.
The government’s 2018 federal budget focuses on a number of tax tightening measures for business owners. It introduces a new regime for holding passive investments inside a Canadian Controlled Private Corporation (CCPC). (Previously proposed in July 2017.)
The deadline for contributing to your Registered Retirement Savings Plan (RRSP) for the 2017 tax filing year is March 1, 2018. You generally have 60 days within the new calendar year to make RRSP contributions that can be applied to lowering your taxes for the previous year.
One of the most common investment questions Canadians ask themselves today is, “Which is better, TFSA or RRSP”?
Here’s the good news – it doesn’t have to be an either or choice. Why not do both?
The month of July saw a set of proposed tax changes announced by the Federal Minister of Canada which are potentially the most impactful and significant amendments since the large-scale tax reform of 1972.
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About Prudent Asset Management
Devendra (Deven) Sharma is a Chartered Professional Accountant, Tax Specialist and Certified Financial Planner. He also hold Chartered Life Underwriter (CLU), and a Certified Health Insurance Specialist (CHS) designations. For over 15 years, Deven has been providing accounting, investment, insurance, and tax advice to clients around the Peel Region, the Greater Toronto Area and beyond. He specializes in Accounting, Business Consulting, Financial Planning, Investments, Risk Management, Tax Advice, Small Business Planning, Succession & Estate Planning, and Health Care Professionals Tax & Financial Planning.