Objective Financial Partners Blog
2024 Federal Budget Amendments that Impact CPP Benefits
The 2024 federal budget has introduced several changes to the Canada Pension Plan (CPP) benefits that affects the Death Benefit, Disabled Contributor’s Child Benefit, and Survivor’s Pension. These amendments increase support to families and individuals impacted by the death or disability of a CPP contributor. It’s worth noting that these…
FP Answers: Should I pay myself dividends from my company to avoid CPP premiums?
The article “FP Answers: Should I pay myself dividends from my company to avoid CPP premiums?” was originally published in Financial Post on May 17, 2024. By Julie Cazzin with Andrew Dobson. Photo by by jittawit21. Passing on the premiums might save money today but cost you retirement income in the…
Why your retirement may be different than you expected
The article “Why your retirement may be different than you expected” was originally published in Financial Post May 6, 2024, by Jason Heath. Photo by Marcus Aurelius from Pexels. Jason Heath: There is no surefire formula for planning for retirement, so expect the unexpected Most discussions around retirement focus on how much…
How much is capital gains tax in Canada?—and other reader questions answered
The article “How much is capital gains tax in Canada?—and other reader questions answered” was originally published in MoneySense on May 6, 2024. Photo by designer491 from Getty Images. Last month’s federal budget introduced changes to capital gains tax in Canada. This has raised many questions about who is impacted…
Should you max out your RRSP before converting it to a RRIF?
The article “Should you max out your RRSP before converting it to a RRIF?” was originally published in MoneySense on April 29, 2024. Photo by designer491 from Getty Images. Here’s what to consider before converting an RRSP to a RRIF. Ask MoneySense My husband and I retired last September. We…
Should I delay my CPP if I’m not contributing to it?
The article “Should I delay my CPP if I’m not contributing to it?” was originally published in MoneySense on April 22, 2024. Photo by TonyIaniro from Getty Images. You can still benefit from deferring Canada Pension Plan payments with less than maximum contributions. Ask MoneySense Do all the advice…
Are Home Renovations Tax Deductible In Canada?
The article “Are home renovations tax deductible in Canada?” was originally published in MoneySense on September 12, 2023, REPOSTED April 12, 2024. Photo by nortonrsx from Getty Images. Doing home renovations? Find out if there are any tax incentives that Canadians are able to claim. “We are upgrading our electrical…
FP Answers: What are the tax consequences of selling a small business to my son?
The article “FP Answers: What are the tax consequences of selling a small business to my son?” was originally published in Financial Post on April 12, 2024. By Julie Cazzin with Andrew Dobson. Photo by Mikhail Nilov from Pexels. Get the value appraised before you do anything. Q: I want to…
How to change a past tax return
The article “How to change a past tax return” was originally published in MoneySense on April 8, 2024. Photo by Mohamad Faizal Bin Ramli from Getty Images. You can amend previous tax returns to include new information, such as investment management fees for a non-registered account. Here’s how. Ask…
Should you buy life insurance to pay for tax owed upon death?
The article “Should you buy life insurance to pay for tax owed upon death?” was originally published in MoneySense on April 1, 2024. Photo by charliepix from charliepix. When you die, capital gains tax might apply to some of your assets. Can life insurance help shelter your beneficiaries from taxes…
Should you claim your common-law partner on your taxes?
The article “Should you claim your common-law partner on your taxes?” was originally published in MoneySense on March 25, 2024. Photo by by Mikhail Nilov from Pexels. Changing your status to common-law has an impact on your tax return and government benefits. Here’s how to know when you should take…
Planning For Retirement With Little Or No Savings To Draw On
The article “Planning for retirement with little or no savings to draw on” was originally published in MoneySense on October 26, 2022, reposted March 20, 2024. Photo by by RomoloTavani from Getty Images. Financial planning advice is often catered to wealthier Canadians. What can retirement look like for those without…
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