MoneyMatters Newsletter Issue 31
Loans to Spouse and Minor Children – Effective Tool for Income Splitting to Reduce Taxes May the 4th be with you! Time to take advantage of income splitting by having higher income taxpayers loan funds to lower income Spouses/Minor Children. The Prescribed rate of interest will fall to 1% on July 1, 2020. This low […]
MoneyMatters Newsletter Issue 30
RRSP Over Contributions – No Mercy Do you know your RRSP Contribution Limit? As we are coming up to the end of the year, many people are considering topping off their RRSP’s to maximize their 2019 tax deductions. However, we continually see some people who over contribute. In that case what happens? The Penalty For […]