|
Poor tax planning
decisions can have an adverse effect on every financial move you
make so take a look at the Tax
planning tips to get a head start. Tax
planning for the family and Tax
planning, 10 common mistakes can help you keep more of your
hard-earned money in your pocket and out of the hands of the tax
man.
The type of income you receive
attracts deferent tax rates. Interest income, dividends and capital
gains have varying levels of taxation or offset.
|
Contributing the maximum
to your RRSP, is a simple way to save for the future and reduce
your current income tax position.
If you have unused RRSP
contribution room going back as far as 1991 and are in a high
income year, utilizing the carry forward provision in the
tax act could further enhance your savings and minimize taxes.
|
 |
 |
The spouse with the higher income
can contribute an RRSP in the name of a lower income spouse - when
withdrawn as eventual income, the
tax rate will be that of the annuitant and not the contributor as
long as spousal RRSP attribution rules are followed.
Forward thinking in regards to estate
planning may spare your beneficiaries an added tax burden.
| 12 Tax Saving
Strategies |
 |
Discover
how to make the tax system work for you by using some easy to
implement tax savings strategies.
Some key elements are deferring tax. Reducing or eliminating
tax. Income-spliting opportunities. Understanding tax implications
on your portfolio. |
|
 |
12
Tax-Saving
Strategies |
|
| Articles,
resources on Tax Planning |
|
Investment and insurance planning
along with the formation of an estate plan have an effect on how much
tax is paid. The following links expand on this topic.
Money Management Newsletter
|
The
Companion Advisor
|
 |
|
Our Bookstore
section contains details related to books that we recommend
for various areas of investing. Also provided are links to ordering
information on each title from Chapters.Indigo.ca. |
Featured titles for tax planning include:
| Tax Information
Links |
|
 |
|
The Canada
Customs and Revenue Agency features plenty of
reference material for tax related issues. Below are some links
to information that may prove useful to you for tax planning
purposes. |
|
