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This article will discuss retiring allowance planning when you leave your employer and the special tax rules provided in the Canadian Income Tax Act (the Act) that may allow for a tax deferral through a rollover to your RRSP.

Leaving an employer can often be an emotional time. This article will discuss four common options for a pension plan that may be available when employment has ended.

It is often assumed that spouses can split income earned in a joint account equally or in whatever way minimizes their overall tax bill. This is not the case. Joint accounts cannot be used by you and your spouse to achieve income splitting.

You and your spouse may make different investment choices. You may have unrealized capital losses that you may be able to transfer to your spouse which may help lower your overall family tax bill.

The spousal loan strategy is a method of income-splitting that may enable couples to lower their overall family tax bill by entering into a prescribed rate loan arrangement.

If you are a high income earner and support family members with little or no income, you may be able to reduce the overall amount of income tax paid by your family by income splitting.

When individuals take on the role of trustee, they’re taking on the responsibility of investing those assets on behalf of the beneficiaries. The rules around the types of investments trustees can make stem from the concept of “prudent investing.”

By appointing a non-resident of Canada as the sole executor/liquidator of your estate, the CRA may consider your estate to be a non-resident of Canada. This could potentially trigger some negative tax consequences...

• What are my tax obligations if I rent or sell my U.S. property? • Do I need to file a US income tax return? • Is there a potential for double tax? • Are there any strategies available to minimize tax? • What are the tax implications on my death?