Personal income tax planning and preparation can dramatically lower the taxes you owe. Every investment option has a tax implication and understanding the tradeoffs between each choice is critical to maximizing your returns.
RRSP, RRIF, LIF, TFSA, JTWROS, LIRA – who can make sense of this alphabet soup? A financial advisor can help you understand your investment options, their different taxation rates, and how they fit into your overall financial strategy. The more assets you have, the more complicated this process can become. Owning a corporation, being a beneficiary of a trust, or being in a limited partnership can all affect your tax plan.
Investment tax planning and personal tax preparation are essential services offered by our team. We can help you choose the options that are the best fit for you.
TFSA
The Tax-Free Savings Account is a registered savings account that allows taxpayers to earn investment income tax-free inside the account. Contributions to the account are not deductible for tax purposes, and withdrawals of contributions and earnings from...
RRSP
A Registered Retirement Savings Plan is a retirement plan that is registered with the federal government and that you or your spouse or common-law partner can establish and contribute into until the end of the year when...
RRSP Loans
Borrowing money to invest in an RRSP has many advantages. Besides the immediate tax refund, you also can...
RESP
Registered Education Savings Plans are registered education savings plans that grow tax-free until the child is ready for university, college or a vocational institute. The student usually pays little or no tax on those funds when they are withdrawn at the student's lower...
RDSP
Since 2011, the Registered Disability Savings Plan has been available to Canadians who qualify for the disability tax credit and offers a tremendous bonus to those who are eligible. The RDSP is a savings plan that you...
Tax Preparation
We offer personal tax preparation services by our highly trained professionals for clients of Bazillion Group. This includes electronic filing of your T1 Personal Income Tax Return and support for any review conducted by CRA in relation to the return.
