Pitfalls of Joint Accounts
Joint accounts can be a useful tool for estate planning but beware of some pitfalls. Things to consider before placing assets in a joint name
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How do I report amounts from my T5008 slip?
This post includes the most common questions we receive about reporting T5008 slips. Do I need to include this T5008 on my return? If you disposed of a security for a gain/loss you should report this on your return. This applies to gains/losses realized when you sell mutual funds. You can use either the …
Read MoreLast chance for spousal loan rates at 1%
There are only a few months left to take advantage of low prescribed interest rates for income splitting and other loans as the rate will double to 2% on April 1, 2018. Prescribed rate loans can be used to split investment income with a spouse or common-law partner with lower income. One partner in the highest …
Read More2018 TFSA Amount
The amount for 2018 remains unchanged at $5500. If you were 18 in 2009 and have never made a TFSA contribution, your cumulative limit is $57,500.
Read MoreCorporate class update
The 2016 Canadian federal budget proposed to change the rules relating to tax-deferred switching inside mutual fund corporations. Effective December 31, 2016, switches from one class of funds to another are no longer done on a tax-deferred basis.
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