Death
and taxes and income splitting
By Jamie Golombek, CIBC credit line |
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 Tax
season will soon be upon us, and filers will be kept busy when it comes to optimizing
pension income splitting. Pension splitting, introduced in the 2007 tax year,
allows Canadians who received pension income to split up to half of that income
with their spouse or common-law partner. If your spouse or partner is in a lower
tax bracket than you are, you should definitely consider the strategy.
Use the Read
More link to view the complete article. |
| Pension
Plans - they
don't have to be a mystery |
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|
 Planning
to retire in the near future? You don't have to wait until retirement to get full
and detailed information about your registered pension plan from your employer.
Use the Read
More link to view the complete article. |
| "What
should you be saving for retirement?" |
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 RRSP
season is nearly here, so once again we present the What
should you be saving for retirement? calculator, an automatic version
of the same worksheet crafted by financial writer Bruce Cohen in the book The
Pension Puzzle. In a few short steps you can get an idea of the benefits
or shortcomings of your present financial planning course. |
| In
the press and on the web |
 |
|
 Jonathan
Chevreau, author of the Financial Post Wealthy Boomer column, interviews Fiscal
Agents - Wealth Management Services Martin Kosterman (part
1, part
2) and David
Newman, Deposit Broker.
Also, the Yellow Pages website now features has added a promotional
video for Fiscal Agents. |
American
Express pays clients to close accounts -
Will other credit card firms do the same?
By Linda Leatherdale |
|
|
 Here's
a surefire sign our economic woes are getting worse: Amid a growing credit crunch
that's crippling the world's financial system pushing bankruptcies and loan defaults
ever higher, American Express is offering its U.S. clients US$300 to pay off their
balances and close out their accounts.
A spokesperson for American Express Canada said no similar buyout plan is being
considered in Canada, where credit card delinquency rates are on rise, but nowhere
the level of the United States.
Use the Read More
link to view the complete article. |
| TFSA
ear marked to receive its own CDIC Coverage |
|
|
 Chapter
3 of 2009 Budget called Canada's Economic Action Plan: Further Safeguards for
Financial Stability
The Government proposes to designate tax-free savings accounts (TFSAs) as
a separate category of deposits insurable by CDIC, similar to the treatment provided
to registered retirement savings plans (RRSPs) and registered retirement income
funds (RRIFs) under CDIC rules.
RRSP tip: If you make a RRSP contribution and expect to receive a $2,000
tax refund - Consider investing the refund into a TFSA, that way you've lowered
the tax bite, and saved $7,000. |
| 2008
RRIF relief for retirees in Economic Statement |
|
|
 In
late November 2008 the Finance Minister announced a proposal to provide temporary
relief to Canadian seniors holding Registered Retirement Income Funds (RRIFs)
that may be affected by the recent global financial market turbulence. The government
proposes to reduce the required minimum withdrawal amount for RRIFs by 25 per
cent for 2008.
Use the Read
More link to view the complete article. |
| Thanks
to our clients - The survey says... |
|
|
 Your
responses to our recent Marketing Survey of clients will help us make informed
decisions on future service programming. Here's a sampling of answers we received
from among over 200 respondents:
| • |
76 % of respondents invest in GICs/Savings accounts with Fiscal Agents. |
| • |
30
% of respondents don't currently follow an estate-planning program but would
consider using estate-planning services.
|
| • |
Our
customers are extremely satisfied with Fiscal Agents' level of service and professionalism. |
| • |
92.5
% would recommend Fiscal Agents to a family or friend. |
| • |
33
% would consider Fiscal Agents as their primary provider for wealth management
services. |
| • |
64
% of respondents are over 65; 45 % are over 75 |
| • |
70
% are retired or semi-retired. |
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Today's
Market Rates |
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| |
Taken from the FiscalAgents.com
Money Centre, as of 27/02/09
| Term
Deposits |
2.10%
|
Annually,
30-59
Days, $25,000 |
| GICs |
4.00
%
|
| Annually,
5 Year, $5,000 |
| Maximum
Rate |
4.25%
|
| Annually,
5 Year, $25,000 |
| RRIFs |
4.25%
|
| Annually,
20 Years, $50,000 |
| RRSPs |
4.00%
|
| Annually,
5 Year, $5000 |
| Savings
a/c |
2.30%
|
| Daily |
|
Click the link below to view our best-offered rate table.
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