Posts by Jason Heath
Here’s What You Need To Know If Your Retirement Is Riding On Your Rental Property Income.
The article “Here’s what you need to know if your retirement is riding on your rental property income” was originally published in Financial Post on July 2, 2021. Jason Heath: There are unique tax, cash flow, and estate planning considerations for landlords in retirement. A rental property funded with a mortgage may provide a comparable…
Read MoreWhat Happens To Real Estate When A Spouse Dies And Property Isn’t Held Jointly?
The article “What happens to real estate when a spouse dies and property isn’t held jointly?” was originally published on MoneySense on June 30, 2021. Photo by Elina Fairytale from Pexels. Barb’s mother is living in a house that was owned by her deceased father, and remains in the name of his estate. Should the…
Read MoreA Guide To Spousal RRSPs For Married And Common-Law Partners
The article “A guide to spousal RRSPs for married and common-law partners” was originally published on MoneySense on June 21, 2021. Photo created by gpointstudio – www.freepik.com. There are benefits, but also potential pitfalls, to beware of when considering contributions to your spouse or partner’s registered retirement savings plan. A Certified Financial Planner breaks them…
Read MoreWhat Tenants Need To Know About Buying Out Their Rental
The article “What tenants need to know about buying out their rental” was originally published on MoneySense on June 14, 2021. Photo by cottonbro from Pexels. Douglas is considering buying the property he rents from his landlord. There are considerations and opportunities for everyone involved. Q. I live in an apartment in a big home in…
Read MoreTax Planning For Canadians Who Invest In The U.S.
The article “Tax planning for Canadians who invest in the U.S.” was originally published on MoneySense on June 10, 2021. Photo by Karolina Grabowska from Pexels. There are good reasons for Canadians to invest in the U.S., including portfolio diversification. Just keep these tax-planning and compliance requirements in mind. It’s no surprise that many Canadians…
Read MoreThese Are The Mistakes Do-It-Yourself Retirement Planners Make Most Often
The article “These are the mistakes do-it-yourself retirement planners make most often“ was originally published on Financial Post on June 3, 2021. PHOTO BY CHLOE CUSHMAN/NATIONAL POST ILLUSTRATION FILES Jason Heath: By planning prudently, you can retire earlier, spend more in retirement, or leave a larger inheritance When you make a mistake planning your retirement,…
Read MoreWhen Does It Make Sense To Sell Real Estate In A Larger City And Buy In A Smaller One?
The article “When does it make sense to sell real estate in a larger city and buy in a smaller one?“ was originally published on MoneySense on May 31, 2021. Photo by Shelagh Murphy from Pexels. If Alison’s annual rent exceeds 5% of the cost to buy a comparable home, she may be in a…
Read MoreEstate Planning Changes In Ontario
The article “Estate planning changes in Ontario“ was originally published on MoneySense on May 25, 2021. Photo created by pressfoto – www.freepik.com. Estate planning changes in Ontario Virtual signing and remote witnessing are now permanent options for clients and lawyers creating wills and powers of attorney in Ontario. Here’s how these and other changes…
Read MoreIVF And Adoption Costs In Canada
The article “IVF and adoption costs in Canada” was originally published on MoneySense on May 17, 2021. Photo by Justin Groep on Unsplash. Having kids can be expensive for every family—but for Canadians with fertility issues, there are added financial and non-financial costs. Often, this column answers questions about specific investment, retirement or tax…
Read MoreSelling Your House? Here’s Where To Invest The Proceeds
The article “Selling your house? Here’s where to invest the proceeds” was originally published on MoneySense on May 14, 2021. What to do with the proceeds of a house sale, RRSPs and TFSAs? Invest. Here’s how robo-advisors might work. Q: My wife and I recently sold our house here in the Vancouver area and are trying…
Read MoreHow To Stop Debt Or Pension Payments After Someone Has Died
The article “How to stop debt or pension payments after someone has died” was originally published on MoneySense on May 10, 2021. Jarnail’s son passed away recently, yet his student loan payments continue to be withdrawn. What should his next steps be? The difficult reality of losing a loved one is that while you are…
Read MoreUnderstanding Income Attribution And How To Deal With It At Tax Time
Paul and his wife have a non-registered investment account and want to make sure they are reporting the income correctly on their tax returns. Q. My wife and I sold our home two years ago that was in both our names and we opened up a non-registered account in both our names (JWROS—joint with rights of…
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