Giving While Living Filed Under: Estate planning | Financial Planning | Investment Services | Tax Planning | Total Client Experience | Wealth Management Published by John Sanchez on Apr 04, 2019 In March 2019, the University of Toronto announced its largest donation to date, a $100-million donation from philanthropists Gerald Schwartz and Heather Reisman. The donation came from The Gerald Schwartz and Heather Reisman Foundation (“the Foundation”)... Read more
The Importance of Family Meetings Filed Under: Estate planning | Financial Planning | Investment Services | Total Client Experience | Wealth Management Published by John Sanchez on Apr 04, 2019 In December 2018, Gerald Cotton passed away, succumbing to the effects of Crohn’s disease. Gerald was the Founder and CER of a company called QuadrigaCX, a trading platform for various cryptocurrencies. Shortly after his passing a critical issue came... Read more
Celebrating Muriel Sprague Richardson – First woman inducted to Canada’s Business Hall of Fame Published by Zoe Wolpert on Mar 08, 2019 International Women’s Day is a day to celebrate the social, economic, cultural and political achievements of women and a call to action for gender parity. This year, we want to bring it close to home and celebrate Muriel Richardson and her invaluable... Read more
Contribution Room – Defined Benefit vs RRSP Published by John Sanchez on Oct 25, 2018 Registered Retirement Savings Plans (“RRSPs”) are investment accounts that are well-known to most Canadians. Amongst other benefits, an RRSP provides a personal tax deduction when an eligible investment is contributed into the plan, and investments can... Read more
Qualified Investments and PPPs Published by John Sanchez on Oct 25, 2018 RRSP investors are limited by the “Qualified Investment” rules. These rules restrict the types of investments that one can hold within their RRSP. With some exceptions, asset classes such as Infrastructure, Private Debt Funds, Shares of Private Companies... Read more
Professional Corporations and Taxes Published by John Sanchez on Oct 25, 2018 Many Professionals, (Doctors, Dentists, Lawyers, Accountants, etc.) have taken advantage of the ability to earn their income through a professional corporation. While there are several benefits, taxation is typically the main factor. In Canada, a corporation... Read more
The Additional Voluntary Contribution Sub-account Published by John Sanchez on Oct 25, 2018 One of my favourite components of the Personal Pension Plan (“PPP”) is the Additional Voluntary Contribution sub-account (“AVC”). One key opportunity is the ability to transfer existing RRSP assets into the AVC on a tax-deferred basis. Why would a business... Read more
Defined Benefit Plans and Past Service Buyback Published by John Sanchez on Oct 25, 2018 A business owner with a Defined Benefit (“DB”) plan has several advantages over one with a traditional RRSP. A powerful tax planning tool that is only available through DB plans is known as “Past Service Buyback”. This is loosely defined as follows: “The... Read more