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Understanding Registered Education Savings Plans (RESPs) in Canada
What is an RESP? A Registered Education Savings Plan (RESP) is a unique savings account available in Canada, designed to assist individuals, such as parents or guardians, in saving for a child's post-secondary education. Notably, anyone can open an...
Understanding Tax-Free Savings Accounts (TFSAs)
A Tax-Free Savings Account (TFSA) is an investment vehicle available to Canadian residents. It offers numerous benefits, including tax-free growth of your investments and tax-free withdrawals. Before you decide to open a TFSA, it's essential to...
Retirement Planning
Most of us understand the benefits of sensible retirement planning. Still, it doesn't feel relatively straightforward when it comes to creating your retirement strategy and putting it into effect. The reality is that, while there are lots of...
First Home Savings Account (FHSA): What You Need to Know
The First Home Savings Account (FHSA) is a savings plan designed for first-time home buyers in Canada, which allows them to save up to $40,000 tax-free. Contributions to an FHSA are tax-deductible, similar to Registered Retirement Savings Plans...
Estate Planning for Blended Families
Blended families – where two people get married but have children from previous relationships – are becoming more common. It can be challenging enough to take care of the everyday logistics; from where to live to making sure everyone gets along. So...
Tax Tips You Need To Know Before Filing Your 2022 Taxes
Tax Tips You Need To Know Before Filing Your 2022 TaxesThis year’s tax deadline is May 1, 2023, as April 30 falls on a Sunday this year. It’s important to make sure you’re claiming all the credits and deductions you’re eligible for. In this...
Why A Buy-Sell Agreement Is Vital For Your Business
Why A Buy-Sell Agreement Is Vital For Your BusinessThe purpose of a buy-sell agreement is to establish a set of rules or actions (that are legally binding) for what must happen to a business if one or more of the business owners is no longer...
Federal Budget 2023 Highlights
On March 28, 2023, the Federal Government released their 2032 budget. This article highlights the following financial measures:New transfer options associated with Bill C-208 for intergenerational transfer.New rules for employee ownership...
Manitoba 2023 Budget Highlights
Manitoba 2023 Budget HighlightsOn March 7, 2023, Manitoba’s Minister of Finance delivered the province’s 2023 budget. These are the highlights of it.No Changes To Corporate or Personal Tax RatesBudget 2023 did not change Manitoba’s corporate rates...
Different types of life insurance explained
Different types of life insurance explainedYou may already have or are interested in life insurance because it can provide significant financial protection for you and your family. To get the best coverage that suits your needs and lifestyle, it is...