Blog - StollerWealth

2023

March 29, 2023 by StollerWealth in 2023

On March 28, 2023, the Federal Government released their 2032 budget. This article highlights the following financial measures: • New transfer options associated with Bill C-208 for intergenerational transfer. • New rules for employee ownership trusts. • Changes to how the Alternative Minimum Tax is calculated. • Improvements to Registered Education Savings Plans. • Expanding access to Registered Disability Savings Plans. • Grocery rebate. • Deduction for tradespeople tool expenses. • Automatic tax filing. • New Canadian Dental Care Plan.

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March 24, 2023 by StollerWealth in Blog

On March 23, 2023, the Ontario Minister of Finance delivered the province’s 2023 budget. Our article covers the highlights as follows: • Corporate tax credits. • Indirect tax changes. • Increased healthcare options. • Supporting communities. • Supporting the economy and infrastructure.

2023

March 22, 2023 by StollerWealth in 2023

On March 21, 2023, the Quebec Minister of Finance announced Quebec's 2023 budget. We have highlighted the most important financial measures you need to know, with an emphasis on the following: • A new “tax holiday” associated with large corporate investment projects. • Enhancements to existing corporate tax credits. • A decrease in personal income tax rates, changes to personal tax credits, and a change in QPP contribution requirements after 65. • Financial commitments to infrastructure, healthcare, education, and communities. Budget 2023 includes no changes to corporate tax rates.

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March 8, 2023 by StollerWealth in Blog

On March 7, 2023, Manitoba’s Minister of Finance delivered the province’s 2023 budget, focusing on these areas: • Investing in stronger communities. • Expanding healthcare coverage. • Providing infrastructure support. Budget 2023 includes no personal or corporate tax rate changes, but some temporary corporate tax credits have been made permanent. In addition, Manitoba’s basic personal amount has increased to $15,000, and two tax bracket thresholds will also be increasing.

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March 2, 2023 by StollerWealth in Blog

On February 28, 2023, the Alberta Minister of Finance announced the 2023 budget. We have highlighted the most important financial measures you need to know, with an emphasis on the following: • Tax credits. • Decreased education property tax. • Investing in education, tourism and infrastructure.

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March 1, 2023 by StollerWealth in Blog

On February 28, 2023, the B.C. Minister of Finance announced the 2023 budget. We have highlighted the most important financial measures you need to know: • Tax credit changes. • Increases to the B.C Family Benefit. • Carbon tax changes. • Other important tax changes. • Healthcare and housing spending.

March 1st Deadline! Enhance Your Retirement Savings by contributing to your RRSP

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February 9, 2023 by StollerWealth in Blog

Don't miss the deadline! Contribute to your Registered Retirement Savings Plan (RRSP) by March 1st, 2023 and enjoy the numerous benefits it offers. With tax-free investment earnings and tax-deductible contributions, your savings can grow at a faster rate. Opening a spousal RRSP can further maximize your tax savings. Start planning for your future today!

2023

February 3, 2023 by StollerWealth in 2023

When looking to save money in a tax-efficient manner, Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) can offer significant tax benefits. The main difference between the two is that TFSAs are ideal for short-term goals, such as saving for a down payment on a house or a vacation, as its growth is entirely tax-free, while RRSPs are more suitable for long-term goals such as retirement. When comparing deposit differences, TFSAs have a limit of $6,500 for the current year, while RRSPs have a limit of 18% of your pre-tax income from the previous year, with a maximum limit of $30,780. In terms of withdrawals, TFSAs have no conversion requirements and withdrawals are tax-free, while RRSPs must be converted to a Registered Retirement Income Fund (RRIF) at age 71 and withdrawals are taxed as income.

2023

January 1, 2023 by StollerWealth in 2023

Welcome to our 2023 financial calendar! This calendar is designed to help you keep track of important financial dates and deadlines, such as tax filing and government benefit distribution. You can bookmark this page for easy reference or add these dates to your personal calendar to ensure you don't miss any important financial obligations.

2022

December 6, 2022 by StollerWealth in 2022

The end of 2022 is quickly approaching – which means for business owners, it's time to review tax tips and strategies to maximize your benefits.

2022 Only

December 5, 2022 by StollerWealth in 2022 Only

The end of 2022 is quickly approaching – which means it’s time to get everything in order, so you’re ready when it comes time to file your taxes. We’ve broken this article into the following sections to make it easy to find the tax tips you’re looking for: • Investment considerations, including how to best contribute to TFSAs, RRSPs, and RDSPs. • Families, including how to claim childcare expenses and make the most of RESPs. • Retirees, including essential details about applying for CPP and OAS.

Blog

December 1, 2022 by StollerWealth in Blog

One of the financial planning issues that business owners face is how to access their corporate earnings in a tax efficient way. Please contact us to learn how we can get more money in your pocket than in the government's.