Testudo Hermanni Tortoise And Rabbit Make A Race On A White Isolated Background

Bitcoin, Marijuana or Warren Buffet Style?

I recently received some inquiries regarding Bitcoin and Marijuana investments. Since many people are attraced by the related headlines, I did some research. Below are some interesting pieces for your reference.  Pain continues for cryptocurrency investors BITCOIN MANIA! – Dave Ramsey Rant 6 reasons an investment in the pot industry will likely go…

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Set Intentions Not Resolutions New Year Goals Concept Handwriting On A Napkin With A Pine Cone

Tips to Fulfill Your New Year’s Financial Resolution

I did not write this post about New Year’s resolution until now on purpose. Some studies suggest most people would give up their New Year’s goal by now. We all have a list of things that we “should” do, we “should” lose some weight, we “should” do more exercise, we “should” spend more quality time…

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Young Family Discussing Family Finances

10 Tips for Canadians to Avoid Overspending During the Holiday

Christmas holiday is filled with joy and peace. It should be the moment where families and friends get together. However, rather than just spending quality time together, many Canadians often overspend their savings during the holiday season. According to an article from Global News in 2015, 58% of young Canadians between age 18 to 24…

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Mother kissing son revised

Can RESP Rollover To RDSP?

We work with many children with special needs. One of the questions often arise from their parents is they already have set up a Registered Education Savings Plan (RESP), but they do not expect their children could pursue in studying post-secondary education due to their disability condition, in such scenario, can they transfer the RESP…

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ODSP real estate

10 Steps For ODSP Receipents To Own A Home

Owning a home is one of the common financial goals for many Canadians. For people who are receiving the benefits from the Ontario Disability Support Program (ODSP), purchasing a property as their primary residence could involved more complex planning. The ODSP has many specific rules, without careful planning in advance, making any financial move could potentially affect…

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RDSP anti-avoidance

Anti-Avoidance Rules For Registered Disability Savings Plan (RDSP)

In the 2017 Federal Budget, there are a number of proposals that could impact the financial, tax and estate planning of Canadian. For families with disabilities, there is an improvement when applying for the Disability Tax Credit. Here’s the update about the Disability Tax Credit: Also, the anti-avoidance rule will also be extended to the…

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Disability Tax Credit Update

Disability Tax Credit 2017 Update

  There has been a number of changes in the 2017 Federal Budget. One of them pertains to the Disability Tax Credit. If one could recall, Disability Tax Credit is a non-refundable tax credit for Canadians who have prolonged physical or mental disability. It is designed to reduce the amount of income tax that the disabled…

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RDSP Contribution - Revised

The Power of RDSP 2017: How to Turn $21,000 into $84,000 in 5 years?

Two weeks ago, I sent out a reminder to the families that I’m working with to start planning for their RDSP contribution in 2017. Especially, by the month of March, many of them have already received their “Annual Statement Of Grants Entitlement for 2017”. This is the letter which stated how much should their family contribute…

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Why My RDSP’s Matching Grant Is Less Than The Previous Year’s?

A number of families that I am working with already received their “Annual Statement of Grants Entitlement” from the government. Some of them contacted me and had the common questions “Why My RDSP Matching Grant Is Less Than The Previous Year’s?” If one could recall, Canada Disability Savings Grants (CDSGs) are matching grants provided by the Government of…

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RDSP Income Matching Rates for 2017

To start off planning for your Registered Disability Savings Plan in 2017,  I contacted Mackenzie Investments. They are one of our long-term business partners, and the top notch financial company when it comes to RDSP planning. They provided me with the new figures of the family net income to calculate for the grants and bonds. There hasn’t…

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