Royal Bank of Canada FREE - On Google Play
Royal Bank of Canada
GET — On the App Store
A summary of the key measures that may have a direct impact on you
They key tax measures from the 2023 federal budget and the impact that they might have on you and your family's finances.
In 2023, the First Home Savings Account will help first time home buyers save up to $40,000 on a tax free basis for a new home.
In the absence of proper planning, the succession of cottages and vacation homes can trigger family disputes or create significant financial headaches and adverse tax consequences.
A trust can be an effective wealth planning tool in the appropriate circumstances that may be beneficial to you and your family as it can facilitate income splitting, business succession, and estate planning.
A majority of Canadians do not have a Will and are letting the government determine how to allocate their wealth when they die.
Ideally, tax planning should be a year-round affair, however, there is still time to take advantage of year-end tax planning strategies.
It isn’t just what you earn, it's what you keep, and tax-efficiency plays a key role in maximizing investment returns and building long-term wealth.
Given that more Canadians than ever are working from home, it is reasonable to consider if there is a tax break for home office expenses.
Key wealth planning strategies that you can consider to manage your financial well-being during this period of heightened volatility.