disability

Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

December 7, 2020Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, corporate, disability, Financial Planning, RDSP, Tax

Finance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:

• Corporate Tax Changes, including extensions to subsidy programs.

• Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.

• Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.

For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.

Personal Tax Planning Tips – End of 2020 Tax Year

December 2, 20202020 Only, Blog, Charitable Gifting, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Retired, Coronavirus - Retiring, Coronavirus - Students, disability, Disability Insurance, Family, financial advice, Financial Planning, health benefits, pension plan, RDSP, Registered Education Savings Plan, RRSP, Tax, Tax Free Savings Account

To help our clients, we’ve put together a comprehensive article filled with great tips on how to get ready for 2020 tax season. Here’s a summary of our personal tax tips article:

• Details about the different COVID-19 benefits programs and the tax ramifications of them

• Information about family tax issues including the Canada Child Benefits and tips on how to split income.

• Managing investments. Details about contributing to various savings plans such as a TFSA, RESP, or RDSP. Also tips on how and when to donate to charity and how to time the purchase or sale of investments.

• Retirement planning. How to make the most of your RRSP, things to know if you’ve turned 71, and tips on RRIF conversion.

Throne Speech: Recovery Plan Highlights

September 24, 2020Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, disability

On September 23rd, in a speech delivered by Governor General Julie Payette, Prime Minister Justin Trudeau outlined the Federal government’s priorities.

Canadians with disabilities to receive up to $600

June 8, 20202020 Only, Blog, Coronavirus, disability

On June 5th, Prime Minister Justin Trudeau announced supports for Canadians with disabilities to address challenges from COVID-19. This support program provides a one-time non-taxable payment of up to $600 for Canadians with disabilities.

Understanding the Registered Disability Savings Plan

July 30, 2019Blog, disability

The federal government implemented the Registered Disability Savings Plan on December 1, 2008. The RDSP is a savings plan designed specifically for people with disabilities in Canada.
In the infographic, we highlight the key points of the RDSP.

Wealth Protection – Disability Insurance

May 1, 2019Blog, disability, Individuals

Everybody understands the value of life insurance and most of us who take our finances seriously have a solid life insurance policy in place. But what happens if you are unlucky enough to sustain a serious illness, chronic disease or disability which prevents you from working? Such a scenario could be disastrous for your family finances and this is where disability insurance comes in.

2019 Federal Budget

March 21, 20192019 Only, Blog, Business Owners, corporate, disability, Individuals, Investment, pension plan, Retirees, Tax

The 2019 budget is titled “Investing in the Middle Class. Here are the highlights from the 2019 Federal Budget.

What are the chances?

October 2, 2018Blog, Business Owners, disability, Family, Life Insurance, Long Term Care

Identifying risk through insurance.

Estate planning for disabled children

August 3, 2018Blog, disability

Recent research by the Rick Hansen Foundation found that, not only are much fewer disabled individuals in Canada in employment compared with those without a disability, almost 15% of those with a disability are living below the poverty line. These statistics are frightening when you consider the fact that they are less likely to have the ability to live independently in the future and are therefore much more reliant on the financial support of their family throughout their lifetime. This can naturally put a big strain on the family’s finances and many parents worry greatly about their ability to provide sufficient income to care for the needs of their disabled child both now and in the future.

Getting the best from a financial advisor

June 1, 2018Blog, Business Owners, Charitable Gifting, corporate, disability, Estate Planning, Family, Group Benefits, health benefits, Individuals, Investment, Life Insurance, Long Term Care, pension plan, Retirees, RRSP, Tax, Tax Free Savings Account, Travel Insurance

Working with a professional to help you to make sense of your finances can be a wise move, but for this relationship to work effectively it is important that you understand what to expect from your financial advisor.

Category: disability

Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

Personal Tax Planning Tips – End of 2020 Tax Year

Throne Speech: Recovery Plan Highlights

Canadians with disabilities to receive up to $600

Understanding the Registered Disability Savings Plan

Wealth Protection – Disability Insurance

2019 Federal Budget

What are the chances?

Estate planning for disabled children

Getting the best from a financial advisor

Contact Us

Derrick Lee-Shanok

derrick@abilitypcg.com

margareth@abilitypcg.com

416-875-1836

1-877-940-7377

416-860-7550

1500 Don Mills Rd. Suite 400 Toronto, ON M3B 3K4

Recent Articles

About