Category: "IPP"
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Succession Planning and the IPP: Keeping it in the Family
Canada’s economic prosperity has been built by the ingenuity of its entrepreneurs and their families, who create and grow their business and employ millions of Canadians. Whether it be a corner store, restaurant, a potato farm, or a brewery; the family business represents a massive form of employment and growth for our economy. According to […]
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CRA Releases Newsletter 21-1 Providing Conditions for IPPs and Designated Plans
On March 16th, 2021, CRA posted a newsletter that provides clarity under the Income Tax Act. A standard Individual Pension Plan (IPP) is considered a designated plan for connected persons and their family members under subsection 8300(1). The IPP has clear rules that govern it as a defined benefit plan for owner operators, which offers […]
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The Pursuit of Financial Stability in Turbulent Economic Times
Business Owners, IPP, RCA, FMV
As we have officially moved on from what is widely considered to be the most tumultuous and disruptive year of our generation, many advisors are cautiously optimistic as we navigate through 2021. Though the COVID-19 vaccine rollout gives much hope for this year, there are many who worry about changes in tax policy in order […]
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Bill 213: Making IPPs Better for Small Businesses and Incorporated Professionals in Ontario
On December 8, 2020, Bill 213 received Royal Assent by the Ontario Government. The purpose of Bill 213 is to reduce the burdens of regulation on businesses. Coined the Better for People, Smarter for Business Act, Bill 213 covers off many different facets of regulation in Ontario. One of the major wins for small businesses […]
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COVID-19 – FAQ about your IPP during this uncertain time
First and foremost, we hope that everyone is staying safe while we deal with the outbreak and spread of COVID-19. We at GBL are doing everything we can to keep our employees and clients safe, while still being available to service your pension needs and provide the customer support you are accustomed to. We wanted […]
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Individual Pension Plan (IPP) vs Personal Pension Plan
GBL has received inquiries regarding the Individual Pension Plan (IPP) and a competitor’s offering called the Personal Pension Plan. The purpose of this document is to outline the similarities and differences and to debunk any myths surrounding one option over another. It is important to note the Defined Benefit (DB) component of the Personal Pension […]
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GBL Celebrates Acquisition of McFarlane Amerlee Consulting
Partnership Will Expand GBL’s Reach and Value Proposition to Business Owners and Professional Corporations Calgary, AB: It is with great excitement that GBL announces the acquisition of its industry peer McFarlane Amerlee Consulting, effective January 1st, 2020. Since 1996, McFarlane Amerlee has been a leader in creating Individual Pension Plans (IPPs) for business and professional […]
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RRSP Season: A great opportunity to review alternative planning options such as Individual Pension Plans (IPPs)
During the 1990s, RRSP (or RSP) season was seen primarily as a time where clients would sit down with their Advisor, review their RRSP portfolio, and provide a cheque for their annual contribution. For many, the focus was to make sure that the contribution cheque was received by their financial institution before the last day […]
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All Eyes On The IPP: A Favoured Retirement and Tax Saving Powerhouse for Business Owners and Professional Corporations
“What kind of parallel universe are we living in?” is a question we’ve asked ourselves and our clients over the past 21 months given that actuaries seem to have become the people in the room whom everybody wants to talk to. Actuaries are a cool group, don’t get me wrong, but the attention GBL has […]
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2019 Federal Budget Commentary
The 2019 Federal Budget was released March 19th, 2019 and though it contained a few measures of note, there were far fewer changes that would impact tax planning than we have seen in the previous three years. We saw the introduction of a new refundable tax credit to assist in skill and training upgrades for […]
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