Tax Strategies Tax Managed Investing – Strategy #6 Lower the Family Tax Bill – Income Splitting Using Loans People often consider tax saving strategies on an individual basis, but overlook family strategies that can save significant tax dollars. The use of intra-family loans to split income and save taxes is a good example. Income Splitting […]
Tax Strategies Tax Managed Investing – Strategy #5 Unlocking Locked-In Funds While pension assets represent an important source of retirement income, locking-in restrictions can hamper retirement income planning flexibility. By making full use of maximum withdrawal limits, thousands of dollars of pension savings can be unlocked while remaining tax-sheltered. Read More
Tax Strategies Tax Managed Investing – Strategy # 4 Final RRSP Contributions at Age 71 The clawback of government benefits can have a significant impact on an individual’s retirement income. Some careful RRSP planning as age 71 approaches, however, can reduce taxable earnings in retirement – and reduce the clawback of government benefits. Read more. […]