Understanding the OAS Clawback
Seniors don’t take kindly to the clawback of their OAS (Old Age Security) especially in these inflationary times, but this can happen, especially if there was an unusual receipt of income during the past calendar year. Here’s what you need to know to explain the consequences for 2025 and 2026:The TFSA is About to Get Better
There may be one silver lining to all this inflation…the Tax-Free Savings Account (TFSA), arguably the best savings vehicle available to Canadians, is about to get even better.
Hedge Inflation Erosion With These Tax Tips
There are four important strategies to maximize income with tax efficiency during both inflationary and potential recessionary headwinds. Consider introducing them to your clients as part of your fall tax filing strategies:
Paul Bates: A Tribute to an Exemplary Man
The financial services industry lost a highly respected member of its community. Dr. Paul Bates, M.T.S., DPT, FCPA, FCMA, CMC who was an exemplary, accomplished man, a fellow financial author and educator, an outstanding humanitarian and family man, and for so many of us, a true and dear friend.
DAC Acuity 2022: Incorporating Alternative Investments into Client Portfolios
An exciting development over the past few decades has been the democratization of alternative investments, bringing these once exclusive set of investments to an ever-increasing group of investors. Advisors must be ready to discuss these products and help their clients navigate the risks and opportunities within the current market.
The alternative investment session at DAC Oct 16-18, led by Jennifer Louth, Sr. Learning Consultant FT Academy, Franklin Templeton, covers all of that and more.
Right Approach? OAS Increase for 75+ Seniors
Last month’s poll in Knowledge Bureau Report asked “Do you think that seniors over the age of 75 should continue to get the 10% increase in their Old Age Security benefits which began in July of 2022?” Overwhelmingly the answer was yes: 89% for it; 11% against. The comments that accompanied the vote were eye-opening.
New Luxury Tax: On Bentleys, Boats and Some Items Over $100,000
In the April 2022 Federal Budget, the government announced its intention to add an additional tax on “luxury items.” This new tax was included in Bill C-19, which became law on June 23, 2022, and collection of the tax began on September 1. Items sold prior to September 1 are not subject to the tax even if delivery takes place after September 1.
