Congratulations Peter on achieving your FEA designation!

Having the FEA designation leads to deeper relationships with family enterprise clients and a broadened perspective of the issues business families face – including generational transitions.

After completing the year-long Family Enterprise Advisor Program, followed by a rigorous exam process, Peter Andreana was granted the Family Enterprise Advisor (FEA) designation. He joins the ranks of approximately 350 highly skilled, experienced, and educated FEAs across Canada who have demonstrated outstanding competence and practice advising business families.

Business families like yours have complex and unique multi-generational challenges. Enterprising families need guidance and support to structure the unique processes required to succeed, thrive, and build a legacy. The FEA designation means we are better equipped to deliver thoughtful integrated and collaborative decision-making within the family, the business, and the ownership circles.

The FEA designation is a valuable addition to our technical expertise and provides Continuum II Inc. and our clients with a diverse lens that is necessary in supporting a family’s complex continuity needs. And in case you didn’t know, Continuum II Inc. is also a family business founded by Peter’s mother Lise, now retired, and in the office Anita (sister) and Cathy (sister-in-law) work side-by-side every day along with the rest of the team.

Welcome to the 1st ever FEA workshop!

SAVE THE DATE:  Thursday, May 30th - 8am to 3pm
Check-in starts at 7:30am - Breakfast, lunch, and a wealth of great information including meeting materials all for only $50 per person. Feel free to pass this along to your family members, business partners, clients or friends. All are welcome. Get tickets now!

Tax Managed Strategy - Fight the Clawbacks

Tax Managed Strategy - Fight the Clawbacks -- Reduce Line 234

Using life insurance under new passive income rules - by Advisor.ca

Is Your Private Company in Shape for New Tax Rules?

Owners of private companies in Canada may now face more restrictive tax rules. Canada recently enacted changes affecting private corporations, their owners and family members, including a new tax on split income (TOSI) where adult family members are part of income splitting arrangements, and restrictions on the small business deduction (SBD) where a private corporation in a corporate group earns passive investment income. These new tax measures, which were first proposed in July 2017, are now enacted and may present significant challenges for private corporations and their owners. As a result, we recommend that you revisit your tax affairs to ensure they are still effective in light of these changes, if you haven’t already done so.

To read this edition of TaxNewsFlash-Canada, go to: TaxNewsFlash-Canada.

 

 

Maximize your TFSA

Maximize your TFSA

Studies show that only one in five Canadians have maximized their TFSA contributions.

Do you know how much contribution room you have in your TFSA?

• To see a detailed breakdown of your specific contributions and withdrawals, go to www.canada.ca and log into your registered MyCRA account, or you can call them at 1-800-959-1956
• You are eligible to open a TFSA the year you turn 18

A TFSA allows you to grow your savings tax-free throughout your lifetime.  A TFSA is also an excellent choice if you have contribution room available and you have any non-registered savings where you currently receive a T5 tax slip.  In this case, we suggest you consider moving any non-registered funds into a TFSA each year, up to your contribution limit (if possible), to avoid paying tax on the money in your open account(s).

We are ready to help guide you towards making the best possible financial choices for your lifestyle. Book an appointment today, and together we can plan how to use your TFSA to your benefit.

Don't have a TFSA account? We can open one for you. Contact us at 905.332.6633 or  info@c2inc.com

Tax Time

It is officially tax time, and with the April 30th deadline looming, here are a few tax tips to help you file pain free.

Avoid getting too creative with your 'other deductions'
-  Line 232 otherwise labeled as 'other deductions' is not an invitation from the CRA to list whatever big expenses you've had over the year
- There is a specific list of claims that qualify. Read that list here
- You need receipts for all of the expenses you claim (i.e: medical expenses or donations)
- While you no longer need to mail in your receipts, you do need to hold onto them should the CRA question any of your expense claims

Don't play hide and seek with the CRA
- Make sure the CRA knows where to find you
- If the CRA asks you for more information after you’ve submitted and are unable to reach you, it will deny or modify claims based on the information it has (which could result in a bigger tax bill)

Know what's new for 2017
- Under new legislation, there are old tax breaks that you can no longer claim, as well as, new tax breaks that you may quality to claim

      New tax breaks:

• Canada caregiver credit – If you care for an infirm family member, things just got a little easier. The Liberals streamlined three previously existing tax breaks into the Canada caregiver credit.
• Disability tax credit – The government has added nurse practitioners to the list of health professionals who can certify Canadians living with a disability for this tax break.
• Medical expense tax credit – Fertility treatments can cost thousands of dollars and aren’t often covered under provincial health plans. You may be able to claim some of those costs in your tax return this year. Also, the Liberals have made the change retroactive, so if you’ve paid for things like in vitro fertilization during any of the past 10 years, you can refile your taxes and add that in.

Make sure you have all of your tax slips
-Depending on your employment status there are specific slips that you will need to file your taxes.

• If you’re an employee, a T4, Statement of Remuneration Paid form, which shows how much your employer paid you. 
• If you’re retired, a T4A, Statement of Pension, Retirement, Annuity and Other Income, which shows you much you earned in retirement payments. 
• If you made money from investing or earned interest in a savings account, you’ll need a T5, Statement of Investment Income, which shows items such as dividends, interest from bonds or money you loaned, and much more. 
• If you received Employment Insurance (EI), a T4E, Statement of Employment Insurance and Other Benefits. 
• If you received worker’s compensation or social assistance, a T5007, Statement of Benefits.

Know your limit
- The CRA will penalize you for over contributing to your RRSP and TFSA
- Be sure to review your notice of assessment, or check your MyCRA account, for your contribution limits

Be sure to claim any foreign income

- If you have any type of foreign income-even though you're a Canadian tax payer you will need to claim it
- You will get a credit from the government, and you will not be taxed twice, but none-the-less it needs to be claimed, or they will come after you

15 Ways The 2018 Budget Will Affect Your Wallet

by Julie Cazzin for Money Sense

Here are 15 ways the budget will affect your wallet.

1. The government is turning the Working Income Tax Benefit into a new Canada Workers Benefit (CWB). The changes mean that if you are single and earn $15,000 or less in 2019 you may earn an extra $500 per year. In the past you had to check a box on your return to apply, but this is no longer the case. You will now be automatically enrolled.

Individuals who are eligible for the Disability Tax Credit may also receive Canada Workers Benefit Disability Supplement. The budget also proposes that the maximum amount of this supplement will be increased to $700 in 2019. It will be phased in at $24,111 for singles without dependents and will disappear at $36,483 for families.

2. The Canadian Child Benefit will be indexed to inflation starting July 2018.

3. In the previous budget you were able to take additional time off for parental and caregiver care and get the EI Caregivers Benefit. This has now been extended to include maternity and sickness benefits.

4. You will be able to open an RESP and claim the $500 Canada Learning Bond grant at the same time that you apply for a birth certificate for your child. This will automatically enroll children born into low-income families for the grant.

5. As of June of 2019, the government will offer five additional weeks of “use-it-or-lose-it” EI Parental Sharing Benefits when both parents commit to sharing parental leave. It’s available to all two-parent families, including adoptive and same-sex couples. If you’re going for the standard parental leave option of 55% of EI benefits over 12 months, you’ll have a total of 40 weeks of leave instead of just 35. As well, where families have opted for extended parental leave at 33% of earnings for 18 months, the second parent would be able to take up to 8 weeks of additional parental leave.

6. Canada Student Grants and Loans has expanded eligibility for part time students, as well as full and part time students with children, and introduced a three-year pilot project that will provide adults returning to school on a full-time basis after several years in the workforce with an additional $1,600 in grant money starting Aug 1, 2018.

7. A new Apprenticeship Incentive Grant for Women would give women in male-dominated trades fields $3,000 per year of training (or up to $6,000 over two years). Almost all Red Seal trades are eligible.

8. The government will invest $90.6 million over the next five years to combat tax avoidance.

9. The government is going to lower taxes on small businesses from 10.5% to 9% in 2019, while making sure the small business tax rate is not being used for personal advantage. Going forward, there is a $50,000 threshold on passive income held in corporations. When passive income reaches $150,000, a business owner will lose the Small Business Tax Rate. They’ll be taxed as a large corporation at that time. The government numbers show that it’s only the top one per cent of income tax filers whose corporations will be affected by the changes but this change will still reap a windfall for federal coffers. With recently announced changes to income sprinkling, the government expects to raise $925 million per year by 2022.

Who should worry about the passive income thresh holds? Anyone who has over $1 million in passive investments in their corporation because they will no longer receive the full benefit of the small business tax rate. (Note, this $1 million in passive investments is the accumulated value in your corporation.)

10. The CPP death benefit is now $2,500 for all eligible contributors (whereas before it was pro-rated.)

11. The Medical Expense Tax Credit is extended to psychiatric service dogs in order to help Canadians cope with conditions like post-traumatic stress disorder (PTSD). This is directly aimed at benefitting veterans and others in the disability community who rely on psychiatric service dogs.

12. The government will introduce legislation for the Pension for Life plan, which will include benefits to support Canada’s veterans. The benefit would recognize pain and suffering caused by a service-related disability up to a maximum amount of $2,650. Another option is income replacement for veterans who are facing barriers returning to work after military service at 90% of their pre-release salary. Pension For Life means that a 25-year-old retired Corporal who is 100% disabled would receive more than $5,800 in monthly support, a 50-year-old retired major who is 100% disabled, monthly support would be almost $9,000.

13. Cigarette taxes are going up again—from 54 cents to 60 cents per five cigarettes

14. As expected, there will be a tax on cannabis as well, which depends on whether the plant product is a seed, flower, trim or seedbag. In the meantime cannabis growers and manufacturers will be required to obtain a cannabis license from the CRA and remit the excise duty where applicable. Details to come at the time when non-medical marijuana becomes available for legal retail sale.

15. If you have a Health and Welfare Trust you need to convert it to an Employee Life and Health Trust by the end of 2020.

For more information on the 2018 budget, visit mcleans.ca

Golombek's thoughts on new passive income rules

The Liberal government’s third federal budget promises more help for the middle class, workplace equality, a boost for tomorrow’s economy and a fair tax system.

But, for all those promises, “there’s not a lot there for the average individual, and not a lot of changes from a personal tax perspective,” says Jamie Golombek, managing director for tax and estate planning at CIBC Financial Planning and Advice. He notes there are also “very few changes in credits.” (There’s the Canada Workers Benefit for low-income workers, previously the Working Income Tax Benefit, and the expansion of the tax credit for those who rely on psychiatric service dogs.)

As a result, the big ticket item of Budget 2018 is “how the government will deal with passive investment income inside a private corporation,” says Golombek. The news on this front “will be welcomed by private business owners in terms of the proposed change.”

In short, “the government has decided to approach the entire issue of private corporation taxation of investment income in a new light,” he explains. “Instead of taxing the investment income above the $50,000 threshold at a highly punitive effective rate of as high as 73%—as previously announced back in October 2017—the government has taken a different approach.”

Instead, “once you have passive income [of more than] $50,000 annually in your corporation, then [the government is] going to restrict access to the small business deduction in the current year. This starts in 2019.”

Under current rules, says Golombek, “we have a small business rate on the first $500,000 of active business income; that’s a very low tax rate. So, what the government is saying is once you’ve accumulated [more than] $50,000 of passive income, [they’re] going to reduce the small business deduction by 5% for every dollar over that threshold, until you get to $150,000 of passive income.”

The new math is very simple: “you take that $150,000, less the $50,000 of passive income. You then get $100,000 of extra passive at 5%; there’s your full $500,000 of small business deduction eliminated,” he adds.

WHAT THAT MEANS FOR CLIENTS

The effect of this change is “business owners will no longer be able to retain income inside the corporation taxed at low rates, once they’ve got a certain amount of retained earnings that [are] earning an annual passive investment income,” says Golombek.

On the upside, “you do have full grandfathering of all retained earnings that are already in there; you could [have been] saving that for investing, retirement or other purposes,” he adds.

Business owners won’t love this development, says Golombek, but it will be welcomed nonetheless, given it’s “much simpler” than what was previously proposed.

Going forward, as of 2019, Golombek predicts the number of businesses that claim the small business deduction will drop—but not significantly. “The government estimates that less than 3% of business owners would have [the] type of retained earnings that are subject to potential clawback,” he says.

TAX STRATEGIES TO EXPLORE

There may be viable strategies that you can use to get around the $50,000 annual limit, suggests Golombek.

1.       This could include “investing in buy-and-hold strategies that report no income. [In that scenario], you’d only face a clawback in the year that you sold a particular investment and realized a capital gain; of course, capital gains are only 50% taxable, and that’s also beneficial toward the $50,000 limit,” he notes.

2.      Also, business owners of private corporations could consider the use of permanent corporate-owned life insurance. “For example, exempt policies that effectively accumulate inside the policy and [do not] generate any annual investment income.”

3.      Peter's Thoughts: left out of this article for a 3rd tax strategy to explore is the Individual Pension Plan (IPP).  An IPP can allow a business owner take significant wealth out of a company today and defer all the tax until it is time to withdraw the funds. (When withdrawals occur, they are taxable at your income and tax rate at that time, and under current rules income splitting is allowed) 

RRSP Tips

An RRSP should be individualized and must fit well within your own personal financial goals. With the upcoming March 1st contribution deadline, here are 10 RRSP tips to remember.

1. Contribute early: Make your contribution as early in the year as possible. Tax-deferred compounding make those early dollars grow dramatically. Contributing early in life and early in the calendar year, both make a positive difference.

2. Contribute the maximum: Take advantage of compounding and get the maximum tax break by contributing your limit. (In respect of 2018, you can contribute 18% of your 2017 earned income, to a maximum of $26,230-less your pension adjustment or past service pension adjustment for 2017). While you can "carry forward" any unused contribution room to subsequent years (until your 71), you can never replace the lost growth opportunity. 

3. Invest Monthly: You might find it easier  to reach your annual RRSP limit by making monthly contributions. Consider having your RRSP contributions automatically deducted from your bank account each month, or consider a Group RRSP and make your RRSP contribution by payroll deduction through your employer. It's also a good idea to increase your monthly contribution if your income rises, and be sure to keep up with inflation. 

4. Contribute to a spousal RRSP: A spousal RRSP allows the spouse with the higher income to contribute to an RRSP owned by the lower-income spouse. (This is an excellent way to income split in retirement and reduce your combined tax rate). The spouse with the higher income takes the immediate tax deduction, but the money in the RRSP should be taxed in the other spouse's hands, usually at a lower rate when it is withdrawn later into retirement.

5. Diversify: By diversifying your portfolio and holding various types of investments, you protect yourself against the day-to-day fluctuations in any one category. To achieve long-term growth you should diversify. Some investors limit themselves to fixed-income investments. The biggest danger with conservative type investments is inflation which can erode your purchasing power. If this sounds like you , consider a small amount of diversifying into growth oriented securities-such as equities and equity mutual funds-to earn returns that can protect you against inflation and provide long-term growth potential. 

6. Resist the dip: There is nothing to stop you from accessing the money in your RRSP, however, you should consider the consequences before dipping into your RRSPs.  First, withdrawals attract tax at your marginal tax rate. Tax withholding at the time off the RRSP withdrawal may be as low as 10%, or as high as 30%-be sure to determine how much more tax you'll have to pay when your file your return. 

Secondly, you cannot restore lost contribution room. The amount you can contribute to an RRSP in your life is limited and a withdrawal erodes some of this potential. 

There are a few circumstances that allow you to access the money in your RRSP without consequence. The Home Guyers Pan and Life Long Learning Plan allow tax-free withdrawals with the ability to re-contribute. However, even in these [lans there is no ability to replace the tax-deferred growth that was lost when you make the withdrawl.

7.  Consolidate your investments: If you don't want to spend a great deal of time managing several plans, you may want to consider consolidating your investments into one portfolio. Yes, you should have a diversified portfolio of investments working for you, but you can usually combine them under one RRSP umbrella. This strategy also means you will get one consolidated statement, which may make it easier to track your plan.

8. Designate a beneficiary: Consider who will be the designated beneficiary for your investments.  Without a designated beneficiary, the account will go through your estate and be subject to probate and other fees. You should talk to us about the tax and other consequences of designating a beneficiary to your RRSP. Who you appoint as beneficiary is also very important, as there are different rues depending on if it is a spouse or other party. ** This strategy does not  apply in Quebec**

9. Get help from an expert: Our advisors at Continuum II inc. are here to help you make the right investment decisions. Together, we should review your plan at least once a year to make sure that your plan is on track with your long-term goals.

10. Have a plan: Investing of any kind, whether in an RRSP or non-registered, is part of a financial plan-but it is important to note that investing itself is not a plan. Contact your Continuum II Inc. advisor today to work your investment strategy into part of a larger financial plan.

Estate Protection: Secure Your Legacy

You’ve spent a lifetime planning ahead to be prepared for every stage of your life. Leaving a legacy isn’t any different.

Estate Protection is a segregated fund that has the same benefits of potential growth and exibility for your investment portfolio. There’s also insurance protection for you and your beneficiaries through built-in guarantees.

Is Estate Protection right for you?

• Are you in the later years of your retirement? 
• Do you want to protect the money you have set aside for the important people that matter the most in your life? 
• Are you looking to pass on your legacy? 
• Do you want to participate in the financial markets, to potentially grow your money? 

If you answered yes to these questions, then Estate Protection might be the right choice for you.

What does Estate Protection offer?

• 100% death benefit-When you die 100% of your investment is protected to pass on to those who are most important in your life
• 75% maturity guarantee-When your policy ends (at age 105), even if the markets go down, Estate Protection protects most of the money you put in 
• You can select funds which can allow you to lower the impact of market volatility on your investments

Saving money is an important part of protecting the legacy you’ve built for your loved ones. With Estate Protection you can have an increased sense of certainty. Because the amount that you’ve set aside does not flow through your estate, you can save the legal, taxes, executor and accounting fees, etc. that can be part of passing on your legacy.

Overall, when it comes to fulfilling your wishes you want a sense of security. You want to feel like you have made the right estate planning decisions. You want to know you have adequately prepared for the financial well-being of your loved ones. By partnering with a financial advisor, you can be confident you have secured your legacy.

Contact Continuum II today and let us help you secure your legacy.  

For more information on Estate Protection, read the full overview from Great West Life. 

Have you been asked to be an executor?

Has someone close to you asked you to be the executor of their will?  

To a friend or loved one, you might seem like the perfect person to be their executor. And while it may appear to be an honour, it is a huge responsibility. Before you agree to the job, here's what you need to know.



Estates big or small-it will be a lot of work.
- Any estate may have multiple properties, numerous possessions, extensive wealth or many beneficiaries.
- There may be numerous steps to get through before you can distribute any assets, including being responsible for taxes.

Be aware of potential conflicts
- If you are being asked to be an executor by a friend, you might want to consider why? In some circumstances, it could be to prevent family conflicts, in which case you could be on the hook to mediate some explosive discussions as to who gets what.

Are you ready for litigation? 
- If the beneficiaries don't like the decisions you've made, you might find yourself the subject of a lawsuit.

Compensation
- There are no rules about how much an executor should be compensated, although the rule of thumb is typically 5%.
- Be sure to note that if the beneficiaries file a lawsuit, and it is found that you haven't used the estate funds the way they were intended, you could be liable to to repay the funds from your own pocket.
- Ultimately, you have to awknowledge that all your hard work could be for pennies.

The bottom line is that being an executor is a lot of work, before you take on the job be sure to consider all of the possibilities.

Talk to your Continuum II advisor today, we can help guide you in the right direction.

Test Your Financial Knowledge

Studies show that Canadians aren't as financially savvy as they think they are. When asked, 70% of Canadians claimed to be financially literate, but when asked to test their knowledge 60% failed. How do you compare?

Test your knowledge by answering the following 15 statements with ‘true’ or ‘false’

1. A mortgage term refers to the length of time you need to pay off your mortgage.

2. You must pay for government insurance on mortgages where you put down less than 20% of a down payment-unless the home is worth $1 million or more.

3. A car that is more expensive always costs more to insure than a cheaper car.

4. You never have to report interest and profits gained in your TFSA when filing taxes.

5. You can have multiple TFSA accounts with different banks at the same time.

6. Your auto insurance automatically goes down when you turn 25.

7. Applying for a credit card can negatively affect your credit score.

8. Home insurance can sometimes protect you if your dog bites someone in your home.

9. Your home insurance will always cover you if a tree falls on your home.

10. Checking your credit score has no impact on the score itself.

11. The colour of your car affects your car insurance rate.

12. All banks charge you money to have a chequing account.

13. Auto insurance premiums can be cancelled mid-way through their term.

14. You need to be licensed to buy stocks in Canada.

15. There's no need to get travel insurance if you're travelling within Canada between provinces.

How did you do?

Check your answers below.

Answers: 1. False  2. True  3. False  4. False 5. True  6. False 7. True 8. True 9. False 10. True

11. False 12. False 13. True 14. False 15. False

See how Pattie Lovett-Reid scored on her financial quiz.

CRA Accounts

No one knows more about your tax position than the CRA (Canadian Revenue Agency). What most people don't realize is that anyone who pays federal tax can go directly to the source through a secured, personal online account or mobile app called My Account (My CRA). If you haven't heard of the My CRA account, here's why you should sign up now.

By signing up for a My CRA account you can track your refund, access past returns, statements, updated assessments, and T-slips, check your benefit and credit payments, set up direct deposit,  or receive online mail. You can also find how much you have contributed to your registered retirement savings plans (RRSP) and tax-free savings accounts (TFSA). Also view how much contribution space you have left, which can help you to avoid nasty penalties if you contribute over the limit.

Set up account alerts, so that you can be notified of any changes that are made, or need to be made, to your personal information. i.e: If you forget to change your address after moving, your account will notify you that something is incorrect to ensure that all information is up-to-date.

Similarly, starting this year, personal online accounts will include information on your Canada Pension Plan (CPP) including contributions and benefits. View all past and present contribution amounts and asses what you can expect to collect at age 60, 65 or 70.

This is a great tool for tax, retirement and financial planning, as financial advisors we encourage all Canadian's to sign up for a My CRA account. Your financial information belongs to you. With a My CRA Account you can have immediate, secure access to all of your information in seconds.


For more information on how to sign up; check out our Facebook Page here, or go to http://www.cra-arc.gc.ca/loginservices/

Financial Planning Code of Ethics

You may have noticed that over the last few weeks there has been a lot of negative press in the media about Canadian banks; their practices, education, lack of ethical behavior and lack of fiduciary responsibility. We would like to extend our concern and regret to anyone this has affected. 

At Continuum II Inc. we take all of these areas very seriously.   With a quick look at our website, you will find ALL the credentials the team has worked particularly hard to earn and maintain. Please take a moment to have a look at what the credentials mean and why they are important to you - http://c2inc.com/credentials.htm. As an office we have always held the Certified Financial Planner (CFP)  designation in the highest regard, which is why Lise, Lori, Stuart and Peter all felt it was so important to attain this premier qualification.  We are dedicated to continually build our education as investment professionals and insurance specialists, and rely on the CFP Continuing Education credits to keep us sharp all the time. 

This week, Peter spent the morning with the Financial Planning Standards Council (FPSC) enrolled in a session specifically tailored to ethics in this industry. The FPSC (completely independent 3^rd party governing body) has always taken ethics seriously, thereby creating the Guidance to FPSC® Code of Ethics, that  holds all  CFP professionals accountable to a higher level of service. 

Guidance to FPSC® Code of Ethics

http://www.fpsc.ca/guidance-code-of-ethics  

Principle 1: Client First

Principle 2: Integrity

Principle 3: Objectivity

Principle 4: Competence

Principle 5: Fairness

Principle 6: Confidentiality

Principle 7: Diligence

Principle 8: Professionalism 

Hopefully you will gather that we take your financial success extremely seriously, including an immense focus on education, caring, and consistently doing the right thing all the time.

Utilizing your retirement income

Retirement Planning

For many of us, retirement will mean big changes to our financial lifestyle.

When the time comes, you might find yourself asking, how do I go about dipping into my retirement savings?

As financial planners, we have heard it all. One of the biggest myths we hear is that people believe they should use their non-registered money first, so that their tax-deferred registered money remains sheltered from tax until needed. While it appears a sensible plan at first glance, it wouldn't be our first suggestion.

What do we suggest? We recommend using a combination of both registered and non-registered funds together.

• Non-registered funds, pertain to funds that are not registered with CRA, otherwise known as open accounts. These types of savings plans don't typically have restrictions in terms of how and when you access your money, as well as how much you can contribute to them.
• Registered funds, pertain to funds that have been registered with the CRA such as RRSPs and TFSAs. These types of savings plans offer great potential for investment growth, as well as tax deferred growth.

Because both types of plans have different benefits, it is always a good idea to hold both in your investment portfolio-allowing you the opportunity to pull from both during retirement.

Why? By using a combination, you could find that your retirement income lasts longer and there's the potential to see after-tax savings. 

To help you get a better understanding of just how beneficial combination withdrawals can be in retirement, take a look at the following case study.

The study was based on the following client information:

•         Retirement assets totalling $1,725,000
•      $500,000 is non-registered and $1,225,000 is registered 
•         Requires $62,500 per year in retirement income
•        Tax rate is 15% on the first $40,000 of income and 40% thereafter
•        Zero growth is assumed on the investments

Make the most of your retirement savings. Contact our office today and let us help you plan for your future.