HGA Update on Proposed Tax Changes

After the outrage by Canadians during the consultation process, the Liberals decided to back down.  Instead they have offered to reduce the small business tax rate from 10.5 per cent to 9 per cent by January 1, 2019.   Although the Liberals have retracted their changes to the lifetime capital gains exemption (for now), they…

Estate Planning & RRSP’s

In general, most people name their spouse as the beneficiary on their Registered Retirement Savings Plan (“RRSP”).  Upon death, the RRSP will transfer to the spouse’s RRSP fund and tax is deferred.   What if you also have other assets such as non-registered investments where they have dropped in value and have an unrealized capital…