What is an RRSP? An RRSP is a Registered Retirement Savings Plan. It is a financial structure intended to encourage people to save during their peak earning years for their…
Category: Retirement
Retirement Savings for Business Owners Part One: What Are Your Options?
One of the reasons you likely went into business for yourself is that you prefer to be in control of your own financial future. As the owner of a Canadian…
Retirement Savings for Business Owners Part Two: The Individual Pension Plan
If you haven’t already thought about starting a Individual Pension Plan (IPP), they’re worth looking into. The IPP is a registered plan for business (CCPC) owners and incorporated professionals such…
Canada Pension Plan Sharing and Credit Splitting
What is CPP benefits sharing? The Canada Pension Plan (CPP) allows couples (married or common law) to apply to share their pensions equally. If one spouse’s benefits and tax bracket…
Where do you stand on the best interest debate?
After the recent revelations about advisors feeling pressured to recommend less than ideal products due to sales targets, certain sections of the industry have digested the news in different ways.…
Income Splitting
What is income splitting? Income splitting is a tax-reduction strategy in which a taxpayer divides income or wealth with lower-income family members so that income is taxed at lower rates…