Posts by Jason Heath

The article “Can You Get Survivor Benefits From An Ex-Spouse?” was originally published on MoneySense on June 19, 2018. That may depend on whether you’re separated or divorced Q: Your article prompted me to think about my pension lost to my ex-wife, whom I very recently learned has died in Manitoba, in January of this year.…

The article “How Cottage Renos Can Reduce Your Capital Gains” was originally published on MoneySense on June 12, 2018. Phylis and her son own a cottage together. She wants to understand the future tax and estate planning implications. Q: My son and I have purchased property and built a cottage. I am now going to will…

The article “What To Do When Your Withholding Tax Is Too Low” was originally published on MoneySense on June 5, 2018. Kersten is worried she’ll have a big tax liability next spring Q: I retired at 55 and I am collecting my full teaching pension. I have recently accepted a full time three month teaching position.…

The article “Investment Fees You Can And Can’t Claim On Your Tax Return” was originally published on MoneySense on May 29, 2018. Patti pays fees for financial advice related to her investments and wonders if those fees are tax deductible Q: I’d like to ask a question about financial advice and counsel I receive from a…

The article “These Are The Situations When Contributing To An RRSP Isn’t Worth It” was originally published on MoneySense on May 22, 2018. Julia has a DB pension and is maxing out her TFSA. Is an RRSP worth it for her? Q: I’m a teacher of 11 years, and I’m wondering about where to invest money…

The article “How Much You Should Pay In Fees On Your Work Savings Plan” was originally published on MoneySense on May 21, 2018. Talk to your employer about lower-fee group savings options Q. I have been registered with an insurance company through my employer since 2001. At the present time, I have about $50,000 in my…

The article “Work Abroad? Your Income Is Fair Game For The CRA.” was originally published on MoneySense on May 8, 2018. To avoid this, you need to break ties with Canada Q: I am a permanent resident of Canada. I live here with my kids. My husband works in Dubai. He is also a permanent resident…

The article “Spouses and Stocks: Is There A Way To Avoid Tax When Transferring Assets?” was originally published on MoneySense on May 17, 2018. Beware of spousal attribution Q: I have a non-registered discount brokerage account containing stocks and mutual funds. If I wish to open a joint brokerage account in both my and my wife’s…

The article “Should I Raid My RRSP To Pay Off My Line Of Credit?” was originally published on MoneySense on May 6, 2018. It’s tempting to cash out RRSPs but watch out for the tax bite Q. My wife and I currently have a mortgage of $297,000. On top of that we’ve had to dip into…

The article “How To Reinstate OAS After It’s Clawed Back” was originally published on MoneySense on May 1, 2018. There is a form to fill out, but it’s entirely optional Q: My father’s OAS was completely clawed back last year because his net income for 2016 was well above $120,000. For 2017, his income will be…