One way to avoid tax – leave money in the business

Justin Trudeau has vowed to increase taxes on the wealthiest of Canadians – many of whom have achieved their status by building businesses. These business owners could one day find themselves facing a tax-strategy dilemma: Should they leave money in the business, take it as income, or do something completely different? Read more…..     Read more about One way to avoid tax – leave money in the business[…]

What’s better for an RESP – Lump sum payment, or annual contributions?

The lifetime maximum amount you can contribute for a child into an RESP is $50,000.  Assuming a rate of return of 5 per cent for 17 years, and that the child starts a post secondary school education at age 18, if you contributed the full $50,000 to the RESP upfront, that amount would have grown Read more about What’s better for an RESP – Lump sum payment, or annual contributions?[…]