Objective Financial Partners Blog

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Do You Pay Capital Gains Tax When Separating or Divorcing?

By Jason Heath - January 24, 2022

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…

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How Do The RRSP Contribution Carry Forward Rules Work?

By Jason Heath - January 17, 2022

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…

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Should You Apply For OAS Even If You Have A High Income?

By Jason Heath - January 13, 2022

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…

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Principal Residence Exemption: Would A Senior Get A Tax Credit For Selling Their House If They Move Out?

By Jason Heath - January 5, 2022

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…

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Why Cash Isn’t Always The Best Gift, Especially When It Comes To Your Kids

By Jason Heath - December 29, 2021

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…

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How To Leave Money To Your Grandkids

By Jason Heath - December 28, 2021

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,…

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CPP vs RRSP: Can You Transfer Your CPP To An RRSP?

By Jason Heath - December 20, 2021

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…

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What Are The Tax Benefits Of Donating To Charity?

By Jason Heath - December 14, 2021

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…

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What’s Involved With An Owner Withdrawal Of Cash From A Corporation

By Jason Heath - December 6, 2021

Linda is approaching retirement with cash in her corporation. She wonders how to withdraw it before or after retirement. I work as a self-employed IT contractor. I am incorporated. Over the years I have accumulated about $100,000 in my business account, over and above what I need to carry operating…

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A Deep Dive Into The ‘Strategic’ Capital Gain And Loss Planning You Should Do This Year

By Jason Heath - December 3, 2021

The article “A deep dive into the ‘strategic’ capital gain and loss planning you should do this year.” was originally published in Financial Post on December 3, 2021. Photo by Kaboompics.com from Pexels. When capital gains are inevitable, use these strategies to reduce your tax. Tax-loss selling is the act…

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How To Invest As A Teenager In Canada

By Jason Heath - November 29, 2021

The article “How to invest as a teenager in Canada” was originally published in MoneySense on November 29, 2021.   Birthday money burning a hole? Read our “investing for teens” guide for where to invest, how to buy stocks, what you need from your parents, and more. If you’re starting…

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Do RRIF Beneficiaries Pay Tax?

By Jason Heath - November 22, 2021

The article “Do RRIF beneficiaries pay tax?” was originally published in MoneySense on November 22, 2021. Photo by Polina Tankilevitch from Pexels. Is it possible to avoid tax as a RRIF beneficiary? Find out if timing could be an issue, as well as rules around withdrawals, too. As the beneficiary…

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