Several measures were introduced during 2020 to help Canadians navigate the economic impacts of COVID-19. Often these measures included cash payments. This article provides an overview on what government assistance may be taxable to you or your loved ones.
When most of us think of year-end tax planning, we typically consider our personal situation. Yet, there are many tax-opportunities for business owners to explore as we near the end of another calendar year. The following tips assume your business is unincorporated or your corporation has a December 31st year-end, although some tips may also apply to corporations with an off-calendar year-end.
Dean Askin from My Business Magazine |
Rod Gibbings became a financial advisor because he didn’t want to ski competitively anymore. “I actually didn’t know what the job was when I started,” he chuckles. That’s the absolute truth. No idea. I was anti-going back to another season of skiing versus what I was going into.”
IG Private Wealth Management |
Individuals can grant powers to others to manage their affairs in a number of different circumstances using various types of documents, often known as a power of attorney. Being appointed as a substitute decision-maker for someone’s financial affairs through a power of attorney is both an honour and an obligation.
IG Private Wealth Management |
When an estate or gift is left to a child, it can be subject to a family property claim if the child later separates or divorces. But, there are ways to protect the inheritance, ensuring your child remains the sole beneficiary.