TFSA limit rises to $7,000 for 2024, officially | Advisor.ca
Nov 23, 2023 · AdobeStock / JHVEPhoto. The TFSA contribution limit for 2024 has been officially released. That limit is $7,000, up from $6,500 in 2023 and $6,000 in 2022.
What the disability tax credit means for eligible Canadians and …
May 14, 2021 · iStockphoto Federal Budget 2021 proposed expanding eligibility for the disability tax credit (DTC) in the areas of mental functions and life-sustaining therapy. This is welcome news for thousands of Canadians who didn’t previously qualify. Not only does DTC eligibility offer immediate tax savings, but it opens the door to other tax benefits and programs to assist eligible Canadians with ...
Home | Advisor.ca
Decumulation for business owners, incorporated professionals and holdco shareholders Thursday, November 28, 2024 at 1:00 pm ET . This virtual roundtable will discuss the pertinent planning issues and how to address them.
How much should an executor be paid? | Advisor.ca
Oct 4, 2021 · iStock.com / Sorbetto This article appears in the October 2021 issue of Advisor’s Edge magazine.Subscribe to the print edition, read the digital edition or read the articles online. Many executors accept their role out of personal duty to a family member or friend who has died, expecting no payment for the work.
Joint accounts and survivorship rights | Advisor.ca
Sep 1, 2010 · Update, April 2016: The author has confirmed that the law on joint accounts remains generally the same, though case law is always evolving. On the surface, a joint account represents concurrent ownership by two or more persons of a bank or brokerage account.
The clearance certificate: what it is, and why it matters
Feb 25, 2019 · Providing executors with peace of mind. One of an executor’s most important jobs is to obtain the clearance certificate: written confirmation from the Canada Revenue Agency that the deceased (and the deceased’s estate) has paid all taxes and associated interest and penalties up to the date the certificate is issued.
How to unlock a life income fund | Advisor.ca
Jun 11, 2020 · Quebec: Nova Scotia: Nfld. Age range: Any age up to Dec. 31 of the year you turn 65: 55 to 64: 55 to 64: Maximum amount: 40% of maximum pensionable earnings ($23,480 in 2020)
New trust reporting rules include in-trust accounts, jointly owned ...
Dec 13, 2023 · AdobeStock / Dikushin. If your clients have set up an in-trust-for (ITF) account for their minor child or they own certain assets jointly, they could be subject to new trust reporting rules that apply for taxation years ending after Dec. 30.
Informal trust accounts: How they do and don’t work
Jun 19, 2018 · Carol Bezaire , PFPC, TEP, CLU, is the vice-president of tax and estate planning at Mackenzie Investments. Carol can be contacted at: [email protected]
Filing the T3 tax return | Advisor.ca
Feb 17, 2018 · Most executors know that completing a final tax return for the deceased is a core duty. But some are surprised to hear they may need to file a return for the estate itself—the T3 Statement of Trust Income.