The RRSP/RRIF Meltdown Strategy

 December 07, 2023 |Charles W. Cullen III
For special situations, it may make sense to deregister your RRSP or RRIF early and replace your excess registered assets with non-registered assets using an investment loan. It is important to note that borrowing money to finance the purchase of securities...
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2023 Fall Economic Statement

 November 30, 2023 |Charles W. Cullen III
The Canadian Deputy Prime Minister and Minister of Finance released the Fall Economic Statement. For a summary of some of the significant tax and financial planning measures announced, please click the article below. For more information, please reach...
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Taxation of In-Trust Accounts

 November 23, 2023 |Charles W. Cullen III
When you receive the T5, T3 or other tax reporting slips for your in-trust account, you may wonder who is required to report the income? This article discusses this and other tax issues relating to trust accounts. As always, for more information, please...
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2023 Year-End Tax Planning

 November 16, 2023 |Charles W. Cullen III
As year-end approaches, taking some time to review your financial affairs may yield significant tax savings. For some tips that may apply to your situation, please click the link below. For more information, please reach out. Click Here
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Quarterly Tax Instalments

 November 09, 2023 |Charles W. Cullen III
An unexpected surprise come tax season may be the requirement to pay quarterly tax instalments. To learn what are they and when you may be required to make them, click the link. For more information, please reach out. Click Here
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Pension Income Splitting

 November 02, 2023 |Charles W. Cullen III
Once you and your partner are in retirement, it is important to be aware of different strategies that allow a higher income spouse to allocate certain types of retirement income to a spouse who's taxed at a lower rate. As always, for more information...
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Pension Income Tax Credit

 October 26, 2023 |Charles W. Cullen III
If you are receiving eligible pension income, you may be entitled to claim both a federal and a provincial tax credit. The federal non-refundable pension income tax credit is on the first $2,000 of eligible pension income. To learn more, please click...
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Registered Retirement Savings Plan (RRSP) Maturity Options

 October 19, 2023 |Charles W. Cullen III
Most Canadians have a RRSP. However, not all understand the different options when their RRSP matures. For more information, please reach out. Click Here
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Transferring a U.S. retirement plan to your RRSP or RRIF

 October 12, 2023 |Charles W. Cullen III
Many Canadians and U.S. persons accumulate wealth in U.S. based retirement plans while working in the U.S. This article discusses how to tax-efficiently consolidate with your RRSP or RRIF. Each situation is different and should be reviewed by a qualified...
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Canadians Investing in Publicly Traded U.S. Securities

 October 05, 2023 |Charles W. Cullen III
For many Canadians, investing in the U.S. stock market, whether to diversify or in the pursuit of different risk/return exposure, is a material part of their overall portfolio. Understanding the U.S. and Canadian income tax considerations should not be...
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