I’ve been writing about CPP and OAS for a long time now. In fact, my most popular articles in terms of traffic and views are my articles on CPP and OAS. Here’s a guide to CPP and OAS because of all ...

Updated June 21, 2017. On March 29 th, the Conservative party released their 2012 budget and the big news is the announced changes to Old Age Security (OAS). This change was one of the government’s ...

In Canada, we pay a lot of tax.In fact, it’s been said there are two certainties in life – death and taxes.. Most income is taxed at your personal marginal tax rate.Although we do pay a lot of tax, ...

Sometime ago I began a very fruitful dialogue with Kenneth C. Pope, LLB, a lawyer in Ottawa, Ontario. He is one of the most experienced legal practitioners in Canada providing services to families ...

We can choose to use whatever language we like: downsizing, rightsizing or firing, in the end, the result of losing one’s job can be devastating. Companies provide severance packages for a range of ...

These increases are cumulative though, so that if you earned at the YAMPE level for the seven years of 2019 through 2025, your maximum retirement pension in 2026 would be $1,207.83 ($1,154.58 + $53.25 ...

On May 25, 2009, Federal, provincial and territorial Ministers of Finance recommended changes to the Canada Pension Plan (CPP). (note: All levels of government have discussed this proposal and on ...

Basic Definition of a Principal Residence The basic definition of a principal residence, as outlined in section 54 of the Income Tax Act (ITA), is any housing unit owned by the taxpayer, which he or ...

Pension buy back really applies to those individuals who are part of a defined benefit pension plan and who may have missed out on some years of contribution service. Some examples might include a ...

Tax freedom day. It’s nearly impossible for the average Canadian to really figure out how much tax they pay especially when you include all forms of tax from all three levels of government like sales ...

Using withdrawal rates. One of the ways to ballpark the amount of income you can take from your portfolio is to use a withdrawal rate. The debate over what is a safe withdrawal rate will continue and ...

Here’s an example IRP. You purchase a Universal Life Insurance policy at age 45. Over the next 20 years, you accumulate $1,000,000 inside the policy, tax-sheltered. Upon retirement, you use this ...