Tax & Estate planning.
If you are a business owner or professional, we can help you review your corporate structure to ensure that it is best suited for your current situation.
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Protect your most valuable asset, your home.
For business owners and professionals, this planning has become more complicated over the years because of in-depth tax planning. Tax advantages associated with income splitting and tax deferrals have made the use of corporations and family trusts common.We can help you tailor planning and provide recommendations to help you minimize tax both while you are alive and in your Estate.
Our Estate Planning specialists
Chris Britton, CPA, CA is a tax and Estate planning specialist with more than 20 years of experience providing assistance to business owners and professionals. This tax planning experience combined with his life insurance product knowledge gives him a unique skill set in providing advice.
For instance, many business owners are investing in a Holding Company. This is a prudent strategy that defers a significant amount of personal tax. However, growth on these investments are taxable. The deferred tax is taxable on distribution to the shareholders.
Dividend tax has risen in recent years to be approximately 45%. Also, there is a potential for double tax on death (capital gains tax on shares and dividend tax on distribution) without proper planning. Life insurance can grow tax-free, is received tax-free and creates a capital dividend account (CDA) that can be paid to the shareholders tax-free. This eliminates the 45% dividend tax that is otherwise only deferred.
Estate Freeze and Wasting Estate Freeze
Family Trusts - including 21-year rule planning
Will review and planning
Buy-Sell Agreement review or implementation
Funding Buy-Sell Agreements for dealth or disability
Estimating final tax bill
Funding final tax bill
Incorporating
Corporate owned life insurance
Insured annuity and corporate insured annuity
Estate equalization
Insurance needs analysis
Insurance audit to ensure your current coverage and product type best meet your needs
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Same reason you need a heart surgeon if you have heart problems and not a family doctor.
You need a specialist to do a detailed review and provide recommendations
Depends. There is a deemed disposition at fair market value of all your assets not left to your spouse. RRSP's are taxed as 100% income and any investments you have (shares or a company, cottage, rental properties) are treated like they were sold and the relevant tax is calculated
