Money Doesn’t Buy Insurance, Health Does.

Insurability is a word that we don’t use much or at all, it’s a term mostly used by insurance underwriters when determining if they want to take your life as their risk. We believe there is no “One Size Fits All” when it come to planning your insurance needs and investment goals.

Everyone has their own dreams. Protecting those goals is our mission. Our unique process uncovers those dreams and aspirations, be it personal or for your business. We understand that thinking about the “What if’s” in life can be uncomfortable for most of us. Through our unique, “Uncover program” we have made the process as simple as possible.

We encourage you to have a discovery meeting with us.

Business Owners

Strategies to help increase your personal cash flow, keep key employees and protect your business.

Insurance

Peace of mind for you and your family. Taking care of what matters most.

Investments

Grow your wealth. Feel confident in your finances.

Latest News

Don’t lose all your hard-earned money to taxes

It’s essential to manage your tax planning properly – both while you are living and for after your death. You want as much of your money as possible to go to your beneficiaries, not the government. Our article contains three tips to help you do that: 1. Learn how to make the most of the lifetime capital gains exemption. 2. Figure out ways to decrease your end-of-life tax bill. 3. Look into Immediate Financing Arrangements.

Financial Planning For Self-Employed Contractors

Being a self-employed contractor can bring you a large cash flow and the satisfaction of being your own boss – but it can also make financial planning more complicated than being an employee. When creating a financial plan, Self-employed contractors need to keep a number of items in mind. Read to find out!

The Six Steps to Financial Planning

A certified financial planner is trained to focus on all aspects of your finances – everything from your taxes to retirement savings. The six steps to financial planning are: • Meeting your financial planner • Determining your goals and expectation • Reviewing your current financial state • Developing a financial plan • Implementing a financial plan • Monitoring the plan A certified financial planner will develop a plan that works for you both today and in the future.

Ontario 2022 Budget Highlights

On April 28, 2022, the Ontario Minister of Finance delivered the province's 2022 budget. It's focused on five different pillars: • Rebuilding the economy. • Better jobs and bigger paycheques. • Building highways and critical infrastructure. • Keeping costs down. • Investing in health care. Budget 2022 includes no changes to personal or corporate tax rates.

2022 Federal Budget Highlights

On April 7, 2022, the Federal Government released their 2022 budget. Our article contains highlights of the various financial measures in this budget, divided into these sections: • Housing • Alternative minimum tax • Dental care • Small businesses • Tradespeople • Canada Growth Fund • Climate • Bank and insurer taxes

2021 Income Tax Year Tips

It’ll be time to file your 2021 taxes soon, and you must take advantage of every tax credit and deduction that you can. Our article includes information on a variety of subjects you need to know about, including what to do if you’ve had to repay COVID-19 benefits, how to plan ahead if you’re self-employed or retiring soon, and what you need to know if you have a home office or employer-provided benefits.

Easy Exit: Business Succession in a Nutshell

Getting into the world of business is a meticulous task, but so is getting out of it Whether you’ve just hit the ground running on your business or if you’ve been at it for a long time, there is no better time to plan your exit strategy than now.

Charitable Giving

Why do individuals give to charity: Leave a legacy, Essential to organizations, Meaningful tax relief for contributors

TFSA versus RRSP – What you need to know to make the most of them in 2022

TFSAs and RRSPs can be significant savings vehicles. To help you understand their differences, we have put together this article to compare: - TFSA versus RRSP - Differences in deposits - TFSA versus RRSP - Differences in withdrawals Understanding the differences between these two types of tax-advantaged accounts can help you better plan for future purchases and your eventual retirement.

2022 Financial Calendar

Looking for an "at a glance" document covering all the important dates you need to know to stay on track with your financial planning in 2022? Our 2022 financial calendar (which you can easily bookmark or print out) makes sure you're always in the loop! It lists important dates, including: • Payments dates for the Canada Child Benefit, CPP, OAS, and the GST/HST credit. • When TFSA contribution room starts again. • Tax filing deadlines. • Charitable contribution deadlines and the last day to contribute to registered investment accounts. • When the Bank of Canada interest rate announcements are.

2021 Personal Year-End Tax Tips

The end of 2021 is quickly approaching – which means it’s time to get everything in order, so you’re ready when it comes time to file your taxes. We’ve broken this article into the following sections to make it easy to find the tax tips you’re looking for: • Individuals, including details on COVID-19 benefits and important tax credits. • Investment considerations, including how to best contribute to TFSAs, RRSPs, and RDSPs. • Families, including how to claim childcare expenses and make the most of RESPs. • Retirees, including essential details about applying for CPP and OAS.

2021 Year-End Tax Tips for Business Owners

We’re approaching the end of the year, so it’s time to review your business finances. We’ve put together an article highlighting the most critical tax-planning tips you need to know as a business owner. We’ve focused on: • How to determine the right salary and dividend mix. • The best ways to handle compensation. • How to make sure you can take advantage of the small business deduction. • What you need to know about depreciable assets and charitable donations. • How to make the most of Covid-19 relief programs.

Estate Freeze

No business owner likes to think about handing over their business they've built from the ground up. But the fact of the matter is, you will have to do it eventually. Even more concerning, what if you were to become ill or incapacitated? Making a decision of this magnitude during trying times would not be ideal. For the business owner, an estate freeze can be an integral part of your estate planning strategy. The purpose of an estate freeze is to lock-in (freeze) the value of the business, freeing the successor from the tax liability that may arise should the business' value increase.

“Final Pivot” – COVID-19 Emergency Benefits expire October 23rd, replaced by targeted supports

On Thursday, October 22nd, Deputy Prime Minister and Finance Minister Chrystia Freeland announced the "final pivot in delivering the support needed to deliver a robust recovery." This "Final Pivot" means several existing pandemic support programs for individuals and businesses will expire on October 23rd, 2021: -  Canada Recovery Benefit (CRB)  -  Canada Emergency Rent Subsidy (CERS)  -  Canada Emergency Wage Subsidy (CEWS) 

Retirement Planning for Business Owners – Checklist

As a business owner, one of your challenges is learning how to balance between reinvesting into the business and setting money aside for personal savings. Since there are no longer employer-sponsored pension plans and the knowledge that retirement will come eventually, it’s important to have a retirement plan in place. We've put together an infographic checklist that can help you get started on this.

Paying for Education

Post-secondary education can be expensive, however having the opportunity to plan for it helps with making sure that you’re capable to meet the costs of education.

Do you REALLY need life insurance?

You most likely do, but the more important question is, What kind? Whether you’re a young professional starting out, a devoted parent or a successful CEO, securing a life insurance policy is probably one of the most important decisions you will have to make in your adult life. Most people would agree that having financial safety nets in place is a good way to make sure that your loved ones will be taken care of when you pass away. Insurance can also help support your financial obligations and even take care of your estate liabilities.

Insurance Planning for Business Owners

For business owners, making sure your business is financially protected can be overwhelming. Business owners face a unique set of challenges when it comes to managing risk. Insurance can play an important role.

Accessing Corporate Earnings

One of the financial planning issues that business owners face is how to access their corporate earnings in a tax efficient way. Please contact us to learn how we can get more money in your pocket than in the government's.

Importance of a Buy-Sell Agreement

Working as a partnership between 2 or more individuals is never an easy task, and the situation only gets more complicated when one or more of them exits the business. Protecting not only the business, but your personal interests, as well as your family’s future are very important objectives for any business owner, and should not be overlooked.

Federal Budget 2021 Highlights

On April 19, 2021, the Federal Government released their 2021 budget. Our article contains highlights of the various financial measures in this budget, divided into three different sections: • Business Highlights, including an extension to COVID-19 Emergency Business Supports, new programs to support job creation, and a change in interest deductibility limits. • Individual Highlights, including details on the tax treatment and repayment of personal COVID-19 benefits (such as CERB), eligibility changes to the Disability Tax Credit, an increase in OAS for those 75 and up, and support for job skills retraining. • Additional Highlights, including a proposed federal minimum wage of $15, changes to the GST New Housing Rebate conditions, and new or increased taxes in areas such as luxury goods, tobacco, and Canadian housing owned by non-resident foreign owners.

What’s new for the 2021 tax-filing season?

Tax season is upon us once again. But since 2020 was a year like no other, the 2021 tax-filing season will also be different. Due to all the changes in both where and how Canadians worked, the Canadian government has introduced some new tax credits and deductions to keep pace with these changes. Our article covers all of the following: • How to claim home office expenses • The new Canada Training Credit • Pandemic emergency funds • New digital news subscription tax credit

10 Essential Decisions for Business Owners

Business owners are busy… they’re busy running a successful business, wearing lots of hats and making a ton of decisions. We've put together a list of 10 essential decisions for every business owner to consider.

Extended COVID-19 Federal Emergency Benefits

On Friday, February 19, 2021, Prime Minister Justin Trudeau announced an extension to: - Canada Recovery Benefit - Canada Recovery Caregiving Benefit - Canada Recovery Sickness Benefit - Employment Insurance

Self-employed: Government of Canada addresses CERB repayments for some ineligible self-employed recipients

Great news for some ineligible self-employed Canadians who received the Canada Emergency Response Benefit (CERB)

TFSA vs RRSP – What you need to know to make the most of them in 2021

Both TFSAs and RRSPs can be significant savings vehicles for your clients. We've put together an article to help your clients easily understand the differences between them – with one section focussing on differences in deposits and one focussing on differences in withdrawals. The deposit section focuses on: • How much contribution room is available each year • How carry forward works for TFSAs and RRSPs • Tax deductibility of contributions • Tax treatment of growth The withdrawal section focusses on: • Conversion requirements • Tax treatment of withdrawals • Impact of withdrawals on government benefits • Impact of withdrawals on contribution room

2021 Financial Calendar

We’ve put together a financial calendar for 2021. It contains all the dates you need to know to make the most of your government benefits and investment options. Whether you want to bookmark this or print it out and post it somewhere prominent, you’ll have everything you need to know in one place!

Government of Canada to allow up to $400 for home office expenses

For the 2020 tax year, the Government of Canada introduced a temporary flat rate method to allow Canadians working from home this year due to Covid-19 to claim expenses of up to $400.

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

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.

Applications for the new Canada Emergency Rent Subsidy starts today!

The new Canada Emergency Rent Subsidy is open for applications today! Unlike the previous program, this subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords. CERS covers up to 65% of rent for businesses, charities and non-profits impacted by COVID-19. An additional 25% Lockdown Support is available during a public health lockdown order.

Applications for Canada Recovery Benefit now open!

The Canada Recovery Benefit (CRB) is now open for applications. If you are eligible for the CRB, you can receive $1,000 ($900 after taxes withheld) for a 2-week period. If your situation continues past 2 weeks, you will need to apply again. You may apply up to a total of 13 eligibility periods (26 weeks) between September 27, 2020 and September 25, 2021.

New Canada Emergency Rent Subsidy | Wage Subsidy extended | CEBA additional $20,000 loan

Great news for businesses! The new Canada Emergency Rent Subsidy will be available directly to business owners who need rent relief. The Wage Subsidy has been extended to June 2021. And the CEBA has been expanded to provide up to $20,000 interest-free loan.

Throne Speech: Recovery Plan Highlights

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

CEBA extended to October 31st. Expanded to include more businesses.

On August 31st, Deputy Prime Minister and Minister of Finance Chrystia Freeland announced the extension of the Canada Emergency Business Account (CEBA) to October 31st, 2020. This will give small businesses 2 additional months to apply for the $40,000 loan. In addition, the Federal Government said it was working with financial institutions to make the CEBA program available to those with qualifying payroll or non-deferrable expenses that have so far been unable to apply due to not operating from a business banking account.

CERB transitions to NEW Recovery Benefits and EI

On August 20th, the Federal Government announced the extension of the Canada Emergency Response Benefit (CERB) by one month and the transition to the Canada Recovery Benefit, Canada Recovery Sickness Benefit, Canada Recovery Caregiving Benefit and a simplified EI.

Details of the EXPANDED Canada Emergency Wage Subsidy

On August 11th, the Government of Canada updated the calculator and Canada.ca with the changes to the Canada Emergency Wage Subsidy (CEWS). If you're a business owner who has suffered losses as a result of COVID-19 and did NOT qualify previously for CEWS, you may now qualify.

Canada Emergency Wage Subsidy expanded to include more businesses!

On July 17th, Finance Minister Bill Morneau announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) that will expand the number of businesses that qualify for the program.

Canada Emergency Wage Subsidy extended into December!

On July 13th, Prime Minister Justin Trudeau announced the extension of the Canada Emergency Wage Subsidy (CEWS) until December.

CERB Extended | Business Owners who did not qualify previously – expanded CEBA starts June 19th

Great news for Canadians out of work and looking for work. The CERB will be extended another 8 weeks for a total of up to 24 weeks. The expanded CEBA will begin June 19th.

Insurance Planning for Young Families

For young families, making sure your family is financially protected can be overwhelming, especially since there’s so much information floating online. This infographic addresses the importance of insurance- personal insurance.

Small Businesses! Applications for Canada Emergency Commercial Rent Assistance starts May 25th

The Application portal for the Canada Emergency Commercial Rent Assistance (CECRA) opens at 8:00am EST on May 25th

Expanded eligibility for CEBA $40,000 interest-free loan

The Prime Minister outlined the expanded eligibility for the Canada Emergency Business Account and highlighted companies such as hair salon owners, independent gym owners with contracted trainers and local physio businesses will now be eligible. "If you are the sole owner-operator of a business, if your business relies on contractors, or if you have a family-owned business and you pay employees through dividends, you will now qualify." - PM Justin Trudeau

Apply starting Friday for Canada Emergency Student Benefit! Help on the way for seniors.

The Canada Emergency Student Benefit (CESB) provides financial support to post-secondary students, and recent post-secondary and high school graduates who are unable to find work due to COVID-19.

Extended! Canada Emergency Wage Subsidy extended beyond June

On May 8th, Prime Minister Justin Trudeau announced that they will extend the Canada Emergency Wage Subsidy (CEWS) beyond June.

Self Owned vs. Bank Owned Mortgage Insurance

Before buying insurance from your bank to cover your mortgage, please consider your options. What does the insurance cover?

75% Commercial Rent Assistance Program

On April 24th, the Federal Government in partnership with the provinces and territories unveiled the Canada Emergency Commercial Rent Assistance which provides rent relief to businesses.

Canada Emergency Student Benefit: Students will be eligible for $1,250 a month from May through August

Great news for students worried about financially making ends meet. Prime Minister Justin Trudeau announced the Canada Emergency Student Benefit which provides $1,250/month from May through August or $1,750/month for those taking care of someone else or have a disability. For students looking to volunteer to help fight COVID-19, the Canada Student Service Grant provides $1,000 to $5,000

Apply for Canada Emergency Wage Subsidy starting April 27th | Calculate your subsidy

On April 21st, Prime Minister Justin Trudeau announced that the Canada Revenue Agency will accept applications for the Canada Emergency Wage Subsidy (CEWS) starting Monday, April 27th. This new measure gives qualifying employers up to $847 per employee each week so they can keep people on the payroll.

Getting the best from a financial advisor

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.

New Canada Emergency Commercial Rent Assistance | Canada Emergency Business Account Expanded

On April 16th, Prime Minister Justin Trudeau announced support for to help small businesses with their rent for the months of April, May and June. The program is being worked out with the provinces and more details will be available shortly.

Expanded eligibility for Canada Emergency Response Benefit (CERB) & Boosted wages for Essential Workers

Prime Minister Justin Trudeau announced: "Today, we're announcing more help for more Canadians. This includes topping up the pay of essential workers. At the same time, we'll also be expanding the Canada Emergency Response Benefit to reach people who are earning some income as well as seasonal workers who are facing no jobs and for those who have run out of EI recently. Expanding the CERB to include people who earn up to $1,000 per month. Maybe you're a volunteer firefighter, or a contractor who can pickup some shifts, or you have a part-time job in a grocery store."

Rules changed to allow more struggling business owners access to CERB, Wage Subsidy. Summer jobs program increased to 100%

A big win today for some small business owners who previously did not qualify for the $500/week Canada Emergency Response Benefit (CERB) or the 75% Canada Emergency Wage Subsidy (CEWS).

Accepting Applications starting April 6th – Canada Emergency Response Benefit (CERB)

The sheer volume of applications for the Canada Emergency Response Benefit (CERB) will likely overwhelm the system. If you or someone you know need to apply for this benefit, we suggest you prepare TODAY before the applications begin: Double check your myCRA account username and password Setup Direct Deposit with CRA

Do I Qualify for the Canada Emergency Response Benefit & EI?

To help Canadians through this difficult time, the Federal Government created the Canada Emergency Response Benefit (CERB) and made changes to the Employment Insurance Program (EI). For those whose employment has affected by the Coronavirus, we have created a chart to help you figure out which program you qualify for and provide links to apply for each program.

Help for Small/Medium Businesses & Entrepreneurs – 75% wage subsidy, $40,000 interest-free loan & more

March 27, 2019 - Prime Minister Justin Trudeau announced programs and measures focused on helping Small & Medium Sized Businesses and Entrepreneurs cope with the economic consequences caused by the COVID-19 pandemic. “With these new measures, our hope is that employers being pushed to laying off people due to COVID-19 will think again,” Trudeau said. “And for those of you who have already had to lay off workers, we hope you will re-hire them.”

Government of Canada Covid-19 Economic Response Plan

We know that clients have questions about the Federal government’s economic response plan, we have included a summary of the information below for business owners, employees and other support that’s available.