Daily Deal Roundup: CPI Card’s IPO priced to perfection and why bankers love ‘bumpatrage’ + MORE Oct 9th

Mergers, acquisitions, private equity and venture capital deals from Canada and around the world

Many Canadians expect to leave vacation property in their wills, but the rapid rise in real estate values could leave them or their heirs with a major tax bill, says Jamie Golombek, managing director, Tax and Estate Planning, Wealth Advisory Services at CIBC.
“If you plan to sell or pass down real estate to the next generation you may be subject to a host of tax and estate planning issues that could not only cost you or your heirs a lot of cash, but could even force the sale of the property,” warns Golombek.
“Advance planning may help to avoid the capital gains tax altogether or defer paying it as long as possible,” he says.
A CIBC poll found that 70% of those Canadians expecting to leave assets plan to pass down real estate upon their death. When it comes to having conversations about transferring wealth, the poll also found many Canadians had not discussed it with their family or a financial advisor.
Estate planning: Get a head start in transferring your wealth »
“The first step to the successful transfer of real estate is to initiate an open, honest conversation with your family,” says Golombek…

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Q: What happens if my TFSA investment goes from $36,500 to $0 in one calendar year? Does that mean I get that investment room back in my TFSA? – Tony Zhang, Montreal
A: I really hope this is a theoretical question. You know, like, what happens if you lick a metal pole in the middle of winter? If not you have my sympathies. That sucks. And I can see why you’d like to have that contribution back, to ease your pain a bit. Unfortunately, that isn’t the way it works, says CRA spokesperson Magali Deussing. “Investment losses within a TFSA are not considered a withdrawal and therefore are not part of a client’s TFSA contribution room. A client is still limited to the maximum contribution room,” and doesn’t gain that room back if losses are incurred.
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Ontario Liberals file paperwork for Hydro One Ltd.’s initial public offering, valuing the public utility at roughly $11-billion

The Ontario government plans to sell more than 81 million shares at a price of $19 to $21 a share in its public offering of Hydro One later this year.