taxes Archives - DFS Private Wealth

Personal Tax Planning

Posted on February 1, 2019February 4, 2019

What is tax planning? Tax planning is the process of organizing your finances so that you pay as little tax as legally possible – now, in retirement and even after you pass away. You can do this by taking into account your income now and your [...]

Holding Companies

Posted on February 22, 2018

What is a holding company? A holding company is simply a corporation that does nothing but own a controlling interest (shares) of one or more other companies that are actually carrying on business. The operating businesses pay dividends to the [...]

Deducting Interest and Investment Counselling Fees

Posted on November 15, 2017February 15, 2019

What investment expenses are deductible? Several investment expenses (carrying charges) can be deducted from income for tax purposes. Investment management or counselling fees that you pay for someone to buy, sell and manage your non-registered [...]

Spousal Loans

Posted on November 15, 2017February 15, 2019

What is a spousal loan? A spousal loan is exactly what it sounds like: one spouse (legally married or common law) lends the other funds. Using this type of loan is a strategy to save income tax. It does so by splitting income, in this case [...]

Principal Residence Exemption

Posted on November 15, 2017November 15, 2017

What is the principal residence exemption? The principal residence exemption is an Income Tax Act provision that reduces or eliminates taxable capital gains that would otherwise be realized on the disposition of your primary home. “Home” can [...]

Income Sprinkling under the Microscope

Posted on July 31, 2017November 15, 2017

The common small business practice of income sprinkling – distributing business income among the owner’s family members using dividends, with the aim of reducing the family’s overall tax – has been very much in the news lately. In an effort [...]

Advisor.ca article: How tax rules disadvantage family business succession

Posted on June 22, 2017

by Simon Doyle and Melissa Shin Many business owners dream of passing their businesses on to their children. But thanks to a specific anti-avoidance tax rule, it’s often more profitable to sell to an outsider. The federal rule, in section 84.1 of [...]

2017 Federal Budget Commentary by HS & Partners LLP

Posted on March 23, 2017

This summary was written by Louis Sapi and Sonia Vaknin at HS & Partners LLP, 905-678-2740. [...]

2016 Tax Change – Sale of Principal Residence

Posted on January 18, 2017

On October 3, 2016, the Government announced administrative changes to Canada Revenue Agency's reporting requirements for the sale of a Principal Residence. In the past when you sold your principal residence you did not have to report the sale on [...]

Registered Plan Fees – CRA’s New Policy