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Should you leave corporate savings in your company? + MORE Mar 1st
I have $1 million accumulated in my corporate account. I don’t need that money for my corporation. What is the best way to take that money out with minimal tax? I’m 39 and I’m not planning to retire soon.—Chris
Withdrawing money from a corporation to invest
One of the first things to i.... More »
What ETFs should a millennial couch potato invest in? May 30th
Ask MoneySense
I’m 30 years old and have 30 years to go until retirement. I already have a good pension with my employer so I’d like to try a 100% equity portfolio. Is there a Couch Potato portfolio that would suit my needs? Any ideas on which ETFs to hold?
–Jonathan
Couch potato ETFs
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Couche-Tard looks at acquisitions and reports earnings drop Jun 28th
Alimentation Couche-Tard Inc. (ATD/TSX) says its net earnings fell by almost a third in its fourth quarter as inflation-squeezed consumers watch their spending.
Couche-Tard reports earnings for Q4
The convenience store giant says net earnings attributable to shareholders totalled $453 millio.... More »
Intel's worst day in 50 years: Stock trading at levels not seen in a decade - CNBC Television Aug 2nd
Intel's worst day in 50 years: Stock trading at levels not seen in a decade CNBC TelevisionInte stock plummets most in 40 years, as company suspends dividend, cuts jobs amid restructuring Yahoo FinanceIntel's stock plunges as company cuts 15% of workforce, struggling to fund ch.... More »
The ins and outs of tax and estate planning for a RRIF
– moneysense.ca
Q: I’m 81, single, female, with around $265,000 in a RRIF (invested in two different financial institutions, both mutual funds). My withdrawal is about $12,000 a year.
How can I minimize tax payable (by my beneficiaries) at death?
— Lydia
A: The tax savings and deferral from contributing to a Registered Retirement Savings Plan (RRSP) can be a good thing. But in retirement, and on death, the tax payable on withdrawals from a registered account is an important tax and estate consideration.
As you may know, Lydia, a Registered Retirement Income Fund (RRIF) can be left on your death to a surviving spouse or common-law partner on a tax-deferred basis. In certain instances, a RRIF can also be left to a financially dependent child or grandchild. They must live with you, be dependent upon you, and have an income below the basic personal exemption in the year of your death. If these conditions apply, some or all of the value of your RRIF can be taxed on their tax return instead of having all of it taxed on your tax return…
How can I minimize tax payable (by my beneficiaries) at death?
— Lydia
A: The tax savings and deferral from contributing to a Registered Retirement Savings Plan (RRSP) can be a good thing. But in retirement, and on death, the tax payable on withdrawals from a registered account is an important tax and estate consideration.
As you may know, Lydia, a Registered Retirement Income Fund (RRIF) can be left on your death to a surviving spouse or common-law partner on a tax-deferred basis. In certain instances, a RRIF can also be left to a financially dependent child or grandchild. They must live with you, be dependent upon you, and have an income below the basic personal exemption in the year of your death. If these conditions apply, some or all of the value of your RRIF can be taxed on their tax return instead of having all of it taxed on your tax return…
