Tax can be annoying. The way the changes to the capital gains inclusion rate has been rolled out is even more annoying. Factoring in the limited time to consider options could all trigger an emotional decision that isn’t necessarily in your best interests.
Spring in Canadian finance is a thrilling time with RRSP and tax deadlines, plus the Federal Budget. Hopefully, you have been navigating this without stress, focusing on life amidst filing taxes and grasping the 2024 Budget’s implications on your life.
Getting serious about exiting your business? It’s crucial to plan for it, as eventual exits are inevitable. Addressing technical aspects is vital, and each situation demands thoughtful consideration. Remember, no one works or lives forever.
Making great financial decisions can be incredibly difficult given the noise in the world about what is “right” and “smart”. Great financial planning helps you determine which strategies and decisions make the most sense for YOU, so that you can experience your life, well spent.
You may say to yourself, “I don’t have a trust, those are only for billionaires. This won’t apply to me.” But wait… it might. The new trust requirements significantly impact the kind of trust that you didn’t realize was considered “a trust”.
It’s a new year, but remember: Time is a construct. The truth is, you can start your year whenever you want. If you thought the start of the year got away from you, let us reassure you that you can start right now.