Canadian Interest

Free Portfolio Review

November 5, 2017

Comments are Disabled
Free Portfolio Review

A Free Second Opinion without any Obligation

Make, save and preserve more of your hard earned wealth at every turn. The Mutual Fund Industry is worth over 1.1 trillion dollars…where is your place in it. How you doing? is not just a pleasantry greeting. It really means do you have eyes on your money and are you heading in the right direction. Mitigate loses if you must, charter a new course, change funds, change advisors but do not stand idle.

The markets may go up or down and there is certainty of no guarantees in the Capital Markets. However some do better than others. Who are those that may know more and want to share?. We may have found those industry professionals, experts and licensed professionals and furthermore have vetted them to a high ethical standard.

What is a Free Portfolio Review? What is a Second Opinion? You can guess or you can imagine getting more than you expected. A free and independent no obligation, thorough review of your entire investment and financial portfolio. Jim Yih a smart and famous financial advisor and literacy advocate has been quoted to say. “No one cares about you and your money more than you should”.

                                    You and Your Money is a Registered Trademark

Canadian Financial Literacy

November 4, 2017

Comments are Disabled

November is Financial Literacy Month.   Poverty Alleviation is all year long.

November November November; the cold gale winds of November. What comes to mind when one thinks of November. In The Cold November Rain another great lyrical tune and song that best describes a hard time.

Knowledge is Power and empowerment is something else. It’s something you have that you can trade, exchange or give away freely in a best case scenario. You wouldn’t give away your money if you needed it; however you may inform and educate in a way that is conducive to giving away something important and meaningful.

Who needs help should come here ask and interact with what we as a collective have to offer freely. Who has wisdom and experience should line up to give back and pay it forward. Therefore everyone is invited to the new Investment Marketplace the have’s and the have not’s, the 99 and the 1%. Creating an even playing field for one or many, for the rich and well to do, the poor and the average Canadian.

Groups and gangs rule the day…with many we are one. It sounds good in principal and means the wealth will take matters in to their own hands. And it means if you are not born rich or have not striven to higher means then you may be part of an under-served community and can all yourself an average Canadian. And this new breed of Canadian is savvy, demanding and wants and warrants more.

Let us cater to the 99…great news it is a bigger market share however they have not risen still being asleep. And when they realize and understand the small print and fuzzy math they have surely let time and the time value of money disappear on their watch.

Financial Literacy for Canadians from here on will be known and explored as:

The 6 Key Areas of Financial Literacy –

Contact: 416-360-0000 – James Dean



How Budget 2013 will affect your pocketbook

March 21, 2013


Federal Finance Minister Jim Flaherty tabled the Federal Budget in Parliament today. Unlike previous budgets, there is nothing concrete to report but there are some interesting measures that may impact your pocketbook.

Another Budget, Another Tax Credit

Budget 2013 introduces a new temporary tax credit called the First-time Donor’s Super Credit (FDSC). A first-time donor is an individual (or her spouse or common-law partner) who has not claimed the Charitable Donations Tax Credit (CDTC) or FDSC in any taxation year after 2007. The first-time donor will be allowed to claim a 25 percent tax credit on up to $1,000 of donations once in 2013 or a subsequent tax year before 2018.

Deduction for Safety Deposit Boxes Eliminated

Currently, tax payers are allowed to deduct expense incurred for renting a safety deposit box provided they use it to store and protect papers relating to the portfolio. These days most records are available in electronic form and the importance of paper copies is declining. Therefore, starting in Financial Year 2014, the cost renting safety deposit boxes cannot be deducted as a carrying charge on the income tax return.

Increase in Tax on Non-Eligible Dividends

A non-eligible dividend refers to income received from corporations that are not taxed at the general corporate rate (such as private, small business corporations). If all you receive are mostly dividends from Canadian public companies, this measure will not impact you.

Budget 2013 proposes to reduce the gross-up factor applicable to non-eligible dividends from 25 percent to 18 percent. The Dividend Tax Credit will change from 2/3 of the previous gross-up amount to 13/18 of the new gross-up. The combined effect of this measure will increase the personal tax rate on non-eligible dividends received from corporations. (Note: KPMG reported that the net result of this measure will increase the federal effective tax rate on non-eligible dividends to 21.22 percent from 19.58 percent).

Crackdown on Charitable Donation Tax Shelters

It appears that Budget 2013 is proposing measures that may turn out to be final nail in the coffin of Charitable Donation Tax Shelters. First, the Budget proposes to extend the reassessment period for a participant in a tax shelter by three years to six years. Second, the Budget permits CRA to collect 50 percent of the any tax, interest or penalties resulting from a reassessment of a participant in a tax shelter even if a notice of objection is filed.

Hasta La Vista to Labour-Sponsored Venture Capital Funds

Labour-Sponsored Venture Capital Funds have, in general, turned out to be a poor investment for Canadians. Therefore, it is heartening to see that Budget 2013 is proposing to eliminate the 15 percent Federal Tax Credit for investments of up to $5,000 in Labour-Sponsored Venture Capital Funds gradually by 2017.

There are other interesting measures in the Budget regarding reporting requirements for foreign assets that we will take a look at in future posts. Meanwhile, if you are looking for some bedtime reading, you can find the entire Budget 2013 document here.