The Canadian Federation of Independent Business (CFIB) is urging the federal government to put an end to excluding family members from the lifetime capital gains exemption when business owners sell their companies to family members. What is the lifetime capital gains exemption (commonly known as… Read More »Lifetime Capital Gains Exemption
In a 2018 article discussing succession planning (albeit at a high level) CPA magazine discusses some of the obvious as well as less obvious aspects of this inevitable part of a business� life cycle. https://www.cpacanada.ca/en/connecting-and-news/blogs/leadership-innovation/2018/february/succession-planning-tips-and-insight?sc_camp=E9E3B141D9C84A18986FBA21EFB4BE70 According to the Family Business Institute, only about 30 per cent of… Read More »Succeeding at Succession
Article in the Globe and Mail on Monday (December 9, 2019) where Rob Carrick attempts to reconcile the country�s fundamental consumer economics to the continued climb of the major Canadian housing markets. His conclusion: � In this light, it�s hard to see how Canada rates a… Read More »HOT HOUSING PRICES
Way back in 1983, I was attending the University of Ottawa for the first year of my business degree. Introductory Economics courses, divided broadly between ‘Micro’ (personal money) and ‘Macro’ (global money) Economics, were mandatory and provided a foundation for understanding how money works. Part… Read More »ECONOMIC PRINCIPLES
DO YOU TAKE A SALARY FROM YOUR COMPANY? The Canada Pension Plan, or CPP, was originally created as a supplemental source of retirement income for those over the age of 65. It is funded equally by employers and employees with a target of providing 25%… Read More »THE ‘NEW’ CANADA PENSION PLAN
A Personal Pension Plan (‘PPP’) is a registered pension plan with an Individual Pension Plan (‘IPP’) backbone and an integrated Defined Contribution (‘DC’) account. A traditional IPP is a defined benefit pension plan which is subject to pension legislation including triennial actuarial valuation and Corporately… Read More »INDIVIDUAL PENSION PLANS: WHAT IS THE DIFFERENCE?
YOUR LIFE’S WORK CAN HAVE MULTI-GENERATIONAL IMPACT My grandmother was a wonderful woman. She had 8 children and lived to be an amazing 98 years old. She was a talented pianist who, even at an advanced age, entertained the other residents of her nursing home.… Read More »CREATING A LEGACY
There are two main challenges in retirement planning: the first is achieving the necessary risk sensitive return on retirement assets; the second is establishing a retirement income that doesn�t overshoot or undershoot the retirement asset. There was good news, on both fronts, in the last… Read More »DEFER RETIREMENT INCOME
Your business is incorporated. You are at least 40 years of age. You take a salary from your company every year. Your company has predictable and positive cash flow. You would like to ensure your retirement is creditor protected. You would like a more efficient… Read More »A PERSONAL PENSION PLAN IS RIGHT FOR YOU IF: