Tax-Free Savings Account (TFSA)

January 19, 2023 |Charles W. Cullen III
At the start of each year, we contact our clients to let them know that they now have additional Tax-Free Savings Account (TFSA) room. For 2023, the annual amount increased to $6,500. To learn more about TFSAs or how a TFSA complements existing savings...
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Capital Gain Reserve

December 15, 2022 |Charles W. Cullen III
Typically, when selling appreciated capital property, you need to pay tax on the capital gain in the year it is realized. However, you may be able to defer a portion of the capital gain and the associated taxes by claiming what's called a "capital gain...
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Superficial Loss Rules

September 08, 2022 |Charles W. Cullen III
Whether invested in stocks or bonds, year to date it has been a challenging market environment. With this in mind, many will be looking to realize capital losses to help with past, present, and future tax returns. However, when doing so you must be aware...
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RRSP Deduction Limit Statement

August 18, 2022 |Charles W. Cullen III
Understanding and interpreting how much RRSP room you have can be complex. We help our clients read their Notice of Assessment (NOA) so they can maximize their RRSP deduction room, while also ensuring that they do not over contribute. To see how we can...
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Prescribed Rate Loan Annual Interest Payments due by January 30th

January 13, 2022 |Charles W. Cullen III
Prescribed Rate Loans can be a very effective strategy to transfer portfolio earnings from a higher earning spouse to a lower earning spouse. Interest payments are due each year by Jan 30th. Click Here
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Capital Losses and Tax Loss Selling

October 15, 2021 |Charles W. Cullen III
Sometimes you may realize a capital loss on the sale of your securities or you may own securities in a loss position. This article summarizes the tax rules and opportunities surrounding capital losses that you have realized or may realize in your non-registered...
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Calculating Your Adjusted Cost Base

June 24, 2021 |Charles W. Cullen III
This article discusses how to calculate the adjusted cost base (ACB) with respect to different types of investments and some common events that may affect ACB calculations. It's essential to seek advice from a qualified tax advisor when determining the...
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Moving to Canada

May 14, 2021 |Charles W. Cullen III
Are you a newcomer to Canada or have you returned to Canada after an extended absence? Having immigrated 12 years ago, I can say this is a great article. Have financial questions about immigrating to Canada? Call me. Click Here
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