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2003-2004
Golden Web Award
In recognition of
creativity, integrity and excellence on the Web.
Canadian Web Award
Very Canadian Friendly
Excellent Content
Highly Organized |
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As an authorized
distributor for ING Bank of Canada, Fiscal Agents can now offer
clients the selection of high interest rate savings accounts
they provide.
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View
ING Section |
Savings Account
Rates |
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| Have yet to file your 2004 taxes?
We've reproduced a collection of helpful tax advice for your perusal,
produced by Paddy Torsney, MP Burlington, Ontario and her staff. |
| A recent survey conducted by Environics
for ADP Canada found that a significant number of Canadian’s
don’t check T4 statements from their employer. The survey found
that 25% of survey respondents don’t read their T4 and 20% only
check total employment income, ignoring all the other boxes on the
statement. |
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| From the article: "I have
had quite a few calls over the last couple of months on the
subject of joint tenancy. Each case involved a client of Mackenzie
who was considering transferring sole ownership in an asset
into joint tenancy with right of survivorship. In almost every
case, this was being contemplated because, among other things,
the client wanted to avoid probate fees. (Bear in mind, probate
fees are not an issue in some provinces, such as Alberta and
Quebec)." |
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| From
the article: "We often get asked the question, 'What items
are most likely to be audited by the Canada Revenue Agency (CRA)?'
Although we would all like to know the answer to that question
with certainty, it is one that is notoriously difficult to predict;
however, Deloitte & Touche LLP recently compiled a list
of items most likely to be questioned on tax returns. This information,
obtained from their practitioners across the country, was based
upon their collective experience with thousands of personal
tax returns." |
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| If you are supporting more than one
person, you may be eligible to claim their unused tax credits from
their 2004 personal income tax returns. And, since things like donations
and medical expenses can be claimed on a family basis, filing your
family's tax returns at the same time can ensure you receive the maximum
tax savings. |
Last year, thousands of seniors received
a letter inviting them to file their tax return using a simplified
telephone tax filing service called Service for Seniors. It's free
and no special skills or equipment are needed. Again this year, Canadian
seniors invited to do so can use this service.
If you're eligible to use this service, you'll receive a letter from
the Canada Revenue Agency (CRA) inviting you to try it. Service for
Seniors only asks you to identify yourself and answer a few questions.
You don't have to enter your income or deductions. They will be included
automatically using the CRA's information. For more information on
all the services designed for seniors or to get answers to your tax
questions, visit the CRA Web site. |
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Money
Management Newsletter
Taking
a look at income-generating investments in a rising interest
rate environment |
| With interest rates at low levels
many investors and some experts seem to agree that a period
of moderately rising interest rates is not far off the horizon.
Often the belief held is that income-generating investments
such as bonds will be negatively impacted when interest rates
start to rise. Here is something to consider: A diversified
group of income-generating investments to provide exposure to
a variety of securities as well as deliver income. In other
words, an alternative to using only traditional GICs or bond
funds to receive income. |
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Looking for the best GIC
Deposit Rates? Check out:
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Looking for something
in particular?
Find it using our QuickNav
site navigation system. |
| We all wish we had invested in “that
sure thing”. The problem is the Sure-Thing racehorse “could”
have won the Belmont stakes. Life’s like that - some you win,
some come in fourth. However, for most the sure-thing investment is
fixed term deposit instruments, like guaranteed investment certificate.
Financial planning experts counsel that a portion of your portfolio
be investor in fixed income securities. |
| In part 2 of our 2004 series of Eldercare/CA
PrimePlus Services articles, we discussed Attendant Care Expenses.
In the March 23, 2004 federal budget, there was a proposed change.
Legislation to implement this was introduced on September 16, 2004.
At the time of writing, the legislation has not yet been passed, but
it will be eventually and will apply to the 2004 taxation year. Under
the proposed legislation, the Attendant Care Expenses deduction on
line 215 will be replaced by the Disability Supports Deduction. |
| In part 4 of our 2004 series of our
Eldercare/CA PrimePlus Services articles, we discussed Medical Expenses
Tax Credit. The 2004 federal budget proposed some changes, which we
will discuss here. |
| When a bank decides to close a branch,
the closure can be very hard on a community. Due to recent amendments
to the Bank Act, consumers now have a process to discuss the closure
with the bank before it happens. |
If you are planning to travel internationally,
you should contact a physician or travel medicine clinic at least
6 to 8 weeks before travel in order to allow enough time for any immunizations
that may be required to be completed. This is especially true for
those planning travel to tropical areas or developing countries.
A health professional will be able to assess your individual need
for immunizations or preventative medication depending on your health
situation, previous immunization history and your travel itinerary. |
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In this month's Ask an Expert section,
we provide answers to the following questions:
1. Dear Editor, After the death of the registered GIC holder,
do the proceeds of the account have to go through probate? Is there
a threshold dollar amount?
2. Dear Editor, how do you know (or how do you find out) how
much is needed to invest in RRSP's in a year to reduce the amount
of income tax paid? I have been looking all over for this, but can't
seem to find any info on how it might be done. |
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Saturday, February 11 2012
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The 10 Principles
of Being Rich
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