You can grow the wealth you have accumulated while minimizing your tax burden with a careful tax-planning strategy.
There are several tax strategies and other considerations that can help decide where to place your investments for maximum tax efficiency. Some examples are;
- Investment Income
- Borrowing to Invest
- Income Splitting
- Funding a Child’s Education
- Registered Investments
- Tax Shelters
- Alternative Minimum Tax (AMT)
- Investing through a Holding Company
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Minimizing your family’s tax obligations is a key part of the overall wealth planning process we are able to provide. We can introduce several tax minimization strategies to benefit your family, including;
Family Income Splitting
Income splitting works by transferring the tax liability from a higher-income to a lower-income family member who is taxed at a lower rate. There are several ways to do this including contributing to spousal RRSP’s, creating formal spousal loan arrangements, or establishing family trusts.
Investing through Tax-Exempt Insurance
In addition to providing your family with financial security, life insurance policies can also help reduce your investment taxes. You can deposit additional amounts into a life insurance policy for investment purposes and the investment income accumulates on a tax-free basis similar to an RRSP.
Tax-Efficient Asset Allocation
We can help you maximize tax-effective investments and investment plans including your RRSP, RRIF, and TFSA.
We will work with you and your tax accountants to design with the best strategy for your personal situation.