Being a business owner can be an extremely rewarding endeavour, and one of the benefits is lower corporate tax rates compared to the same income had it been earned as salary. As a business owner, you may also benefit from the Canadian Small Business Deduction if your company qualifies as a Canadian Controlled Private Company (CCPC). The small business deduction applies to the first $500,000 of active business income from business operations and is taxed at a more favorable 9% as compared to the general business rate of 15%. Once active business income goes past $500,000 you will then face the general rate of 15%, but you will have realized significant savings on that first half million of income.

Did you Know that as a client, you have coverage under Canadian Investor Protection Fund (CIPF). CIPF coverage policy includes:
• $1 million for all general investment accounts combined (i.e. – non-registered account such as a cash account), plus
• $1 million for all registered retirement accounts combined (i.e. – RRSP, TFSA, RRIF, etc.), plus
• $1 million for all registered education savings plans (RESPs) combined

The Bank of Canada announced today that it will hold the overnight rate at 5% despite an inflation rate increase to 3.3% in July 2023 which is trending further away from its target inflation rate of 2%. The central bank is adopting a “wait and see” stance as there was a sharp drop in domestic GDP growth reported for the first half of 2023 and increased unemployment to 5.5% in July compared to 4.9% a year ago.
Bank of Canada interest rate hikes are designed to curb demand in the economy by making it more expensive for consumers and businesses to borrow and by squeezing household budgets due to higher debt costs and rents.

Our primary goal is to ensure Electronic Funds Transfers (EFTs) and Wire orders are initiated, executed, and approved in a secure manner while meeting the needs of our clients. We want to ensure that you receive your fund requests when you need it; for example, buying a new car or any other purchase.

Please be reminded of the following process to ensure no delays are encountered for funding requests.

We are thrilled to announce that we were nominated and WON the 2023 Faces Magazine Award for “Wealth Management Firm of the Year” in Ottawa. Thank you to everyone who took the time to vote and show your confidence and trust in our team caring for our client’s financial health…

All investment advisors the public interacts with should be registered with the provincial and national industry regulators.  In Ontario, that means the Ontario Securities Commission (OSC) and nationally, the Canadian Investment Regulatory Organization (CIRO).  CIRO replaced the Investment Industry Regulatory Organization of Canada (IIROC) earlier this year when the Mutual Fund Dealers Association (MFDA) and IIROC merged.  Wow!  There is more when you introduce insurance licensing which we are certainly part of through Mandeville Insurance Services Inc., but let’s leave that for another day.

Rising interest rates, high inflation, recession fears, political stalemates, and war are some of the headlines we have become accustomed to seeing every day over the past two years. With so many such headlines, it can be hard to focus on the long term. While navigating these troubling waters, some may find themselves inadvertently making financial mistakes that can have a serious impact at retirement. One of the more common, and potentially devastating, mistakes is selling your investments to buy GICs or other guaranteed investments when markets are in a downturn. This is why having a financial plan, owning quality securities, and being prepared is so critical to financial success.

Life insurance is not just a “death benefit.” It’s an important tool that can help save money and transfer wealth, particularly for individuals with high net worth.
Throughout my 30-year career, I have observed some common misconceptions about life insurance products. For many, life insurance is simply a reliable, long-term way to make sure their loved ones are financially secure after they pass. While this is true, for wealthier individuals, there’s much more that life insurance can do.

I’ve been getting a lot of questions lately about mortgage renewals – not surprising, given the steady rise of mortgage rates over the last couple of years. People with mortgages renewing in 2023 and even 2024 are justifiably concerned about what their new mortgage will cost, what impact it will have on their cash flow, and whether or not they will even be able to pass the stress test with today’s rates!

Our primary goal is to ensure Electronic Funds Transfers (EFTs) and Wire orders are initiated, executed, and approved in a secure manner while meeting the needs of our clients. We want to ensure that you receive your fund requests when you need it; for example, buying a new car or any other purchase.

Please be reminded of the following process to ensure no delays are encountered for funding requests.

After the rally beginning in December, equity markets have had a tough time for the past month or two; continued fallout from higher interest rates, a series of large-scale banking failures, and the continued concern over an economic “soft or hard” landing.

While at this time of year, everyone is focused on scrambling to gather their tax slips, find receipts for deductibles, expenses, and any other items to claim on their tax return, this is only one element of the bigger financial picture.