Author Archives: Yisroel Sandel

Thinking about handing over the reins to your business? These considerations will help you create an effective and tax-efficient succession plan. There are many benefits to being your own boss, both while you’re running your business and when you’re ready to step back from it. Because you’re in charge, you may have greater flexibility around […]

They’re called the “accumulation years,” the 20, 30 or 40 years we work and earn money. During this time we buy a home, own a small business, volunteer, donate to charities, dabble in stocks, buy life insurance. Whatever our assets and interests, we want them protected and passed down to good hands. The solution is […]

When you’re newly widowed, you need to think clearly and make good decisions in the midst of your grief. This checklist can help you get through it. Whether it’s a sudden loss or the result of a long illness, the death of your spouse is emotionally devastating and you will need time to grieve. However, […]

Taxes may be inescapable, but your choice of investments can have a huge impact on how much tax you pay. It all depends on your personal situation and how you structure your investment portfolio. Investment income. A basic investment portfolio can generate three types of income: 1. Interest income. If you have a savings account […]

The new rules governing CPP were introduced in 2012 and they take full effect in 2016. The earliest you can take your CPP Pension is age 60, the latest is 70. The standard question regarding CPP remains the same – should I take it early or wait? While you can elect to start receiving CPP […]

As a business owner, you may be aware that when you dispose of shares in your business you could receive an exemption on all or a portion of the capital gains that ordinarily would be taxable. This is due to the Lifetime Capital Gains Exemption which says that, for 2015, up to $813,0001 of capital […]

Permanent life insurance, such as Whole Life or Universal Life, has long been accepted as a tax efficient way of accumulating cash for future needs. Soon the amount of funds that can be tax sheltered within a life insurance policy will be reduced by new tax rules which take effect January 1, 2017. These changes […]

The majority of Canadians work hard to accumulate a retirement fund and many are averse to exposing savings to unnecessary market risk after they retire. In today’s prolonged low interest rate environment, immediate annuities are often dismissed or overlooked as a viable vehicle for providing retirement income. Perhaps they shouldn’t be. An annuity is an […]

The Cascading Life Insurance Strategy If you are a grandparent wishing to provide an asset for your grandchildren without compromising your own financial security you may want to consider an estate planning application known as cascading life insurance. How does the Cascading Life Insurance Strategy work? • The grandparent would purchase an insurance policy on […]

Transferring a Life Insurance Policy to a Corporation (“UPDATE” This Strategy was good until it has been banned by CRA in the 2016 budget) The Corporate Extraction Strategy involves transferring a personally owned life insurance policy to a corporation for its fair market value (FMV). When handled properly, it could result in withdrawing capital from […]