Posts by Jason Heath
Corporate Investments For Retirees
Corporate Investments for Retirees Retiring does not mean you need to close your corporation or withdraw all its money at once. Many incorporated business owners reach retirement with cash or investments in an operating company or holding company, and the corporation may continue to own those investments for years after the business itself has stopped…
Read MoreHow To Find A Lost Life Insurance Policy
The article “How to find a lost life insurance policy” was originally published in MoneySense on February 8, 2022. Photo by Sofia Alejandra from Pexels. A death in the family is always stressful, but money can make it more so. Here’s expert advice for rights to a lost life insurance policy. My stepfather left a…
Read MoreThe Process Of Unlocking A LIRA Account In Canada
The article “The process of unlocking a LIRA account in Canada” was originally published in MoneySense on February 1, 2022. Photo by cottonbro from Pexels. What can you do? What can’t you do? Let’s clarify some conflicting online information about locked-in retirement accounts. Thank you for “How to get money out of locked-in retirement accounts”. I have…
Read MoreFour Key Things To Consider If You Are Planning To Retire This Year
The article “Four key things to consider if you are planning to retire this year” was originally published in Financial Post on February 1, 2022. When should you start CPP? What’s the best RRIF strategy? Here’s how to choose the option that best suits you. Some retirees exit the workforce with defined-benefit pensions that replace…
Read MoreDo You Pay Capital Gains Tax When Separating or Divorcing?
The article “Do you pay capital gains tax when separating or divorcing?” was originally published in MoneySense on January 24, 2022. Photo by Ketut Subiyanto from Pexels. Concerned about the potential capital gains tax implications of a principal residence after a relationship breakdown? I just read your article on paying capital gains on a property inherited…
Read MoreHow Do The RRSP Contribution Carry Forward Rules Work?
The article “How do the RRSP contribution carry forward rules work?” was originally published in MoneySense on January 17, 2022. Photo by SHVETS production from Pexels. What are the rules about RRSP carry forwards? Should you ever contribute the full amount? If I have $25,000 contribution room left in my RRSP, can I take that…
Read MoreShould You Apply For OAS Even If You Have A High Income?
The article “Should you apply for OAS even if you have a high income?” was originally published in MoneySense on January 13, 2022. Photo by Mart Production on Pexels. If you are a high-income senior whose Old Age Security would be fully clawed back, find out if you should still apply. Although I am 75…
Read MorePrincipal Residence Exemption: Would A Senior Get A Tax Credit For Selling Their House If They Move Out?
The article “Principal residence exemption: Would a senior get a tax credit for selling their house if they move out?” was originally published in MoneySense on January 5, 2022. Sometimes, seniors must move out of their home. What are the tax implications of selling the home? Does principal residence exemption apply? Does the fact that…
Read MoreWhy Cash Isn’t Always The Best Gift, Especially When It Comes To Your Kids
The article “Why cash isn’t always the best gift, especially when it comes to your kids” was originally published in Financial Post on December 29, 2021. Photo by Liza Summer from Pexels. Instead of giving your children a gift of cash, pay an expense for them. Research has shown that when young children give a…
Read MoreHow To Leave Money To Your Grandkids
The article “How to leave money to your grandkids” was originally published in MoneySense on December 28, 2021. In my experience, most people leave their entire estate to their children. But you can name other people to receive a dollar amount, a specific asset, or a percentage of your estate, including extended family, friends and…
Read MoreCPP vs RRSP: Can You Transfer Your CPP To An RRSP?
The article “CPP vs RRSP: Can you transfer your CPP to an RRSP?” was originally published in MoneySense on December 20, 2021.Photo by Karolina Grabowska from Pexels. Is it possible to transfer CPP to RRSP? The answer is a quick one, but there’s more to an CPP and RRSPs to know about. I’m 40 years…
Read MoreWhat Are The Tax Benefits Of Donating To Charity?
The article “What are the tax benefits of donating to charity?” was originally published in MoneySense on December 14, 2021.Photo by RODNAE Productions from Pexels. ’Tis the season for giving and some may be wondering how donating to charity saves tax on your tax return. Philanthropy can be rewarding in non-financial ways, but charitable donations…
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