February Reminders


February 2020

The sun is shining and flowers are popping up; you can smell the approach of springtime in the air. The mountains look their most glorious at this time of year. Still capped with snow, they shine brightly along the North Shore. The beauty of Spring in Vancouver is a wonderful distraction from the current media circus. Any semblance of good news has been derailed by fear mongering over global pandemics, rowdy American politics and local protests in solidarity with Wet'suwet'en. The markets continue to shrug off most of these events; recent corporate earnings have continued to illustrate a rosy picture.

Tax Deadlines

It is the time of year to get bombarded by tax slips in the mail as we digest the investment returns and gains from 2019. Below we've summarized a few of the important dates to keep in mind. If you are making your contributions via online bill payment from your banking website, you may notice our back office's new name as the payee. For reference, GMP Securities may now be showing as RF Securities but not all Canadian financial institutions have implemented our name change yet.

A quick reminder for those who have yet to contribute to your Tax Free Savings Accounts, Canadian residents are allowed an additional $6,000 in contributions this year. If you need help with your contributions, please let us know.

RRSP Contribution Deadline March 2, 2020
 Regular Filing Deadline April 30, 2020
Self-Employed Filing Deadline June 15, 2020


 Remember, you can put money into your eligible registered retirement savings plan (RRSP) any time. But if you want to get a tax refund for your RRSP contribution with your 2019 return, you have to add the funds by the March deadline.

While it is still fresh...

Tax time usually represents the one time of the year that we collect all of our financial information together for our submission to the CRA. While you have all your documents together, now can be a great time to review your overall financial picture and see if it still aligns with your goals and plan. If you notice any material changes to your finances as you start your tax filing, please let us know so that we can update your documentation and plan if needed. These annual check-ups help us stay up-to-date and on point when it comes to helping you navigate your financial milestones.

If there have been any recent changes (or expected changes) to your financial picture, please contact us.

In the Shopping Cart: I'm Lovin' It

Our stock highlight this month is a recent addition to the list of names we like. A nostalgic favorite, McDonald's is more than just a burger diner. Founded 80 years ago, McDonald's is the worlds largest restaurant chain by revenue serving over 69 million customers every day in over 100 countries. They have pivoted from the unhealthy stereotype that plagued them into a tech company that embraces many of the investment themes we're watching. From artificial intelligence to automation and accessibility, McDonald's is paving the way for continued success into the next 80 years of their life. Their menu has become significantly healthier over time with the addition of salads and smoothies, and the company has invested in its café line of baked goods and coffee beverages. 

From a financial point of view, McDonald's has a strong business with defensive characteristics that keep it well positioned for success regardless of the global economic forecast. Their investment in technology and a franchise model help protect the business from risk and disruption. Jack would prefer people consider McD's a tech company that happens to also make food. A stellar management team that is focusing on industry leading profit margins and sales growth keeps us optimistic for the future of the golden arches. The pioneers of the Happy Meal are a household name and that success continues today, every McDonald's we pass is bustling with activity. Even that signature meal for kids has seen significant reform: you can get a book instead of a toy and apple slices instead of fries. Snow may be out of the forecast but we look forward to this McFlurry.

Chernick & Associates Wealth Management Group

Richardson GMP Limited
Guinness Tower
1055 West Hastings Street, Suite 2200
Vancouver, BC  V6E 2E9

Tel.: 604.640.0400
Toll Free: 1.866.640.0400