Are you on title on a parent’s or child’s home for estate or gifting purposes? Do you have an in-trust-for (ITF) investment account for a minor-aged child? Do you have a jointly-held bank account with a child or parent? As of the 2023 tax filing year, such arrangements may now require filing a T3 Trust… Read More
The You First Blog
The 2023 RRSP deadline is Thursday February 29, 2024. Contributions made up to this date are included on your 2023 tax return and can be deducted against your 2023 income. Depending on your marginal tax bracket, you could see a tax savings as high as 53.5% on your contribution. Roughly speaking, if you earn more… Read More
Here is the updated set of essential tax numbers for 2024. Working-Aged Individuals RRSP Maximum Contribution: The maximum new RRSP space generated is $31,560; for 2025 it will be $32,490 TFSA Space: $7,000 of new space. Unused space from prior years carries over FHSA Space: $8,000 of new space. Unused space from prior years carries… Read More
The Investia mobile app has continued to evolve since its launch in summer 2021. Recently, the app underwent a visual overhaul that has made it easier to navigate. Without question, the Investia mobile app is the easiest way to review your portfolio. Setting up the Investia mobile app is easy. Downloading the Investia App:… Read More
With September comes the annual school year kickoff for many families. This is also the perfect time to reiterate the powerful benefits provided by the Registered Education Savings Plan (RESP). For most households, the RESP is the top investment vehicle available for children’s education savings. Here are the key facts: Annual maximum contribution: $2,500 (or… Read More