The recent passing of music icon Aretha Franklin, and the revelation that she died without a will, provides us with another reminder to get your affairs in order. Give your family the gift of sharing your intentions with them to allow for smooth estate administration. See article here.
Saskatchewan is above the national average of 22%, with 33% planning to leave money to charities in their will. See the full article HERE for more interesting notes on what the motivations are behind giving and what segments of the population are planning to do the most giving.
Did you know that the taxation of life insurance policies will have a number of changes for new policies issued beginning in 2017? Have a look at this short video to understand these changes, and what the new rules could mean for you and your business.
A recent article in the financial post highlights a new bill that has been proposed in the House of Commons. The proposed bill seeks to level the playing field for the tax implication of selling a business to your family member vs. to a third party. Currently, a significant deduction from the capital gain is allowed when selling to a third party, but this deduction is not necessarily available when selling to a relative. The proposed bill could be a welcome change for many family-owned businesses in Canada. Please see the Financial Post article HERE