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Charitable Gifting Using Insurance: Unlocking Value After the Risk is Covered Off
In every stage of life, there are different needs and there are often concerns about risk. One example being, “If I were to die, how will my family be able to cover our expenses, taxes, or debts?” Life Insurance is the most common vehicle utilized to address this risk. There are two types of Life […]
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Selling your Business? How the RCA can be an Important Planning Tool
For majority of business owners, the sale of their business represents a bulk of their retirement savings. Years of hard work, sacrifices, and sweat equity has led to the moment of sale with a big pot of gold. The sale of the business is not always a share sale, and in the case of a […]
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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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Congratulations Gordon!
After close to 60 years of working in the actuarial industry and building GBL from the ground up, our Founder, Gordon Lang is officially retiring. But don’t worry, in typical Gordon fashion, Gordon will still be available for consulting assignments as required and will remain an integral part of GBL. He is a fixture and […]
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2018 Federal Budget: Clarifying the Passive Income Conundrum
Since tax changes were proposed for Canadian Controlled Private Corporations (CCPCs) in July 2017, small business owners, incorporated professionals and their tax advisors have been in a holding pattern as to how to manage passive assets. Proposals at the time called for two pools of assets: Pre Jan 1, 2018 and post Dec 31, 2017. […]
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2018 Income Tax Planning
News, Business Owners, IPP, RCA
First off, we would like to wish you and your clients a Happy and Prosperous 2018! As we are all aware and unlike our neighbours to the South, combined top Federal and Provincial Income Tax Rates in Canada are near to or over 50%. In addition, the 2018 Federal Budget may penalize many taxpayers with […]
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Major Changes on the Horizon for Small Businesses
The announcement on July 18th, 2017 by Federal Finance Minister Bill Morneau regarding the proposed changes to taxation within incorporated businesses in Canada represents a major change in corporate tax planning. Corporate tax planning for the last 35 years has focused on after-tax corporate savings and the usage of dividends as a means for the […]
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The Resurgence of the IPP: A Favoured Retirement and Tax Saving Powerhouse
The Good News: Despite tax increases and reduced savings strategies for the top 5% of Canadians, the 2016 personal tax season has ended in Canada…Finally. The Bad News: Now at the end of May, you and your clients are likely feeling the corporate tax pinch. The Ugly News: Tax policy for Business Owners and Professional […]
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2017 Federal Budget: Much Ado About Nothing
For the Financial Services community, the 2017 Federal Budget will more be known for what it did not contain rather than what it contained. The increase of the Capital Gains Inclusion rate from 50% to 66% or 75%, the taxation of health and dental Benefits to employees, and any changes to the principal residence exemption […]
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