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Family Business Planning Strategies

67% are at Risk of Succession Failure If you are an owner in a family enterprise, the likelihood of your business successfully transitioning to the next generations is not very good.
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Taxation of Life Insurance - New Rules Offer a Window of Opportunity

Permanent life insurance, such as Whole Life or Universal Life, has long been accepted as a tax efficient way of accumulating cash for future needs.  Soon the amount of funds that can be tax sheltered within a life insurance policy will be…
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Changes to the Taxation of Estates

Estate, trust and tax planners have long favoured testamentary trusts as vehicles to pass along assets to beneficiaries or heirs.   A testamentary trust is generally a trust or estate that is created the day a person dies.  Commonly, these…
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Budget 2015 Highlights

On April 21, 2015, Finance Minister Joe Oliver tabled his first federal budget.  The provisions of the budget will be of particular interest to owners of small and medium sized businesses, seniors and families with children.  As well, those…
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5 Recent Tax Changes for the 2015 Tax Season

Tax time is almost upon us and there are some recent changes which will affect many Canadian residents.  The important changes to keep in mind are as follows: The Family Tax Cut This is the watered down version of income splitting plan that…
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The benefits of year-end charitable donations

By Anne Levy-Ward, BrighterLife.ca If you’re like many Canadians, your mailbox is jammed in the holiday season with greeting cards, mail-order catalogues, promotional calendars, sale flyers — and requests for charitable donations. While…