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Dealing with Down Markets
Staying Calm When Markets are Volatile Why Avoiding Short-Term Performance Figures Can be a Sound Strategy In times of economic turbulence, it’s normal to feel apprehensive when you’re about to read your portfolio’s performance. And, of course, seeing the fluctuating short-term results doesn’t help. It is more important to keep your sights on the bigger…
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What Happens if You Die Without a Will
Most of us know that having a will is important, but statistics show that what we know about wills and the action we take with wills are very different. According to a survey conducted by CIBC in 2013, more than half of Canadians die without a will. If you die without a will in Canada…
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2023 Federal Budget Commentary
On March 28, 2023, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2023 – A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future , to the House of Commons. No changes were made to personal or corporate tax rates or to the inclusion rate on taxable capital gains. Some…
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How to Financially Prepare for Divorce
How Jane Financially Prepared for Divorce Jane is divorced. Going through divorce was a difficult time, not just for her but for her entire family. The emotions were draining, but the financial strain made it even worse. As Jane prepared for divorce, there were so many decisions to be made quickly. She knew she had…
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5 Reasons to Keep Up with Bookkeeping
Bookkeeping is a fundamental aspect of any business. It involves keeping track of all financial transactions and organizing them into categories such as revenue, expenses, assets, and liabilities. Unfortunately, many business owners overlook the importance of bookkeeping and fail to maintain accurate and up-to-date records. This can lead to hectic year-ends, among many other issues.…
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Wealth Management 101: Spousal RRSPs
Spousal Registered Retirement Savings Plans must not be universally understood by investors, because they are not utilized to their maximum benefit. These financial vehicles were designed to encourage retirement savings with tax breaks at the time of contribution and at the time of withdrawal, just like regular RRSPs. Spousal RRSPs provide an opportunity for the…
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Underused Housing Tax
Does the UHT apply to you? The new Underused Housing Tax (UHT) imposes a 1% annual tax on the value of residential real estate considered to be vacant or underused that is owned on December 31 of each year. The government indicated that the tax would target property owned by non-Canadians; however, the scope of…
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What is a Trusted Contact Person?
A Trusted Contact Person (TCP) is someone you choose who can help us protect your financial well-being. What is the Role of a Trusted Contact Person? A TCP is a resource that may help protect you in possible circumstances of financial exploitation or where we may have concerns about your ability to make decisions due…
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Charitable Gifting
As the holiday season nears, many Canadians will make the bulk of their charitable donations for the calendar year. While many of us may not have the cash resources for charitable gifting, we may have investment assets that could be used instead of an outright cash gift. The following provides some helpful information if you…
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2022 Year End Newsletter
Accounting Tax Updates: Agriculture Updates: Human Resources Solutions Wealth Management Firm News Please Note Our Holiday Shutdown The offices of Ward & Uptigrove will be closed from 3:00 pm on Friday, December 23rd and reopening in the New Year on Tuesday, January 3rd. Underused Housing Tax Act – New for 2022 During the year, the…
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The Benefits of a Group RRSP
While Registered Pension Plans ruled the retirement saving scene in the past, the high cost of these plans has had employers looking for cheaper plans for their employees. Group RRSP’s offer a flexible, cheap alternative to traditional pension plans and have become a popular option for some employers. Did You Know? A Group RRSP does…
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National Financial Planning Week – Inheritance Planning
John and Mary have worked hard to build a successful business. A business that John hoped he would pass down to one of his three children. Mary encouraged her children to follow their passions; therefore, she was less confident than her husband that one of their children would take over the business. And unfortunately, the…
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