The Federal Budget in 2022 proposed to create the Tax-Free First Home Savings Account (FHSA), a newly registered account to help individuals save for their first home. As of January 2023, legislation has passed for this new investment account. However, the account will be available to Canadians on April 1st, 2023. Contributions to an FHSA would …
New Account Coming To Canada In 2023: The First Home Savings Account Read More »
Earlier this month I met with a client who shared the sad news that his father had passed away. Along with dealing with the emotional loss of a parent, he is now tasked with the distribution of his estate. The biggest issue being, locating his will. The will is an important document. It allows the …
Do Your Survivors a Favour and Pass Away With a Will Read More »
On January 23, 2023, The McClelland Financial Group of Assante Wealth Management Ltd. was pleased to host our monthly “lunch and learn” event with speaker was Sue Lantz, BA, MPA, the Founder and Managing Director of Collaborative Aging. www.collaborativeaging.com Sue is a trusted policy expert on healthy aging in place, educator and advocate, and the …
A lot has gone on in our market since January 1st, 2022. We have had a war between Russia and Ukraine and experienced the highest inflation in Canada since 1983; we have experienced a very aggressive interest rate hike with the highest rates since the Financial Crisis in 2008, all while our society gets back …
Well, it depends on who you ask. In order to answer the question, we have to establish what an RRSP is and what the benefits are. In short, an RRSP stands for Registered Retirement Savings Plan. Created in 1957, the RRSP is a type of investment account that provides income tax deferral opportunities to Canadians …
It’s official – 2023 TFSA contribution room is $6,500! Be sure to make the adjustments to your pre-authorized contributions to utilize all the room. Let’s take this time to remind ourselves of some of the benefits of the Tax Fee Savings Account. In reality, the vehicle was misnamed from its inception. A more accurate name …
MoneySense.ca: “As soon as a taxpayer starts to earn income—like employment income, self-employment income, royalties, research grants or net rental income—they accumulate room for their registered retirement savings plan (RRSP). There are no age limits, so a teenager with a part-time job can start to build their RRSP room as long as they file a tax return …
PsychologyToday.com: “As we grow older, we inevitably start to notice changes in cognitive function. This article has some great suggestions on how to keep your brain healthy.”
2022 will be remembered as the year of rising interest rates in our economy. Canada has led the charge globally, increasing its interest rates at a torrid pace. The reason for this interest rate increase stems from our inflation issue. Inflation in Canada at its highest point was 8.1%, approximately 4X higher than it has …
With interest rates on the rise, why would anyone take market risk and invest their money? Great questions, but I have 3 important reasons why: Take care of your future self Preserve your money against inflation Replace your human capital with financial capital The common theme to all these reasons is that you are taking …
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