Author Archives | Troy Peart

Hidden Asset photo source worldpropertychannel

Human Capital: The Hidden Asset

After reviewing their situation, I usually find that their most valuable asset is the ability to earn an income or their human capital. Without human capital, one’s car, house or any other financial goals are most likely not attainable.

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Income Splitting PhotoTravel Blat

Income Splitting

Under our current tax system, the higher one’s income; the greater the percentage of taxes that must be paid to CRA. As a result, a family with 2 people earning $50,000 each would pay far less taxes than a family with one person earning $100,000. With this in mind, it makes sense to spread income among family members in order to lower the overall tax burden.

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Spousal Loans

Spousal Loans

Canada has a graduated income tax system in which not every dollar of one’s income is treated equally. For example, an individual earning $80,000 of income pays 0% tax on their 10,000th dollar of income, 20.06% tax on their 30,000th dollar of income and 32.5% on their 80,000th dollar of income.

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Money Talk Financial Windfalls

Money Talk Financial Windfalls

Although it is quite rare to win a substantial amount of money in a lottery, many of the same elements are present when one receives a large inheritance. On the surface, one may think that large inheritances are equally as rare but given the current real estate values in the Greater Vancouver

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Simple Tips for Better Personal Finances

RESP Redemptions

In today’s increasingly competitive work force, a post secondary education has become a progressively more important factor in determining one’s career path.

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Government Student Loans

Government student loans are a unique tool that is available to current and former students. Due to its unique qualities (that always seem to be changing), it is imperative that one understand the specifics of student loans and how they directly pertain to them.

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Register Disability Savings Plan

Register Disability Savings Plan

For families with a child that has disability, one of the major concerns is often how best to ensure the financial security of this child going forward. In addition to this concern is frequently the desire and challenge of ensuring that government benefits that this child could be entitled to do not get clawed back.

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Employed or Self Employed

Employed or Self Employed?

The details of any self employed relationship should be documented carefully in case CRA challenges this claim in the future.

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The introduction of the Tax-Free Savings Account TFSA vs. RRSP

TFSA vs. RRSP

Tax-Free Savings Account (TFSA) at the beginning of 2009 has been touted by many as the greatest financial innovation since Registered Retirement Savings Plans (RRSPs) were launched in 1957.

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RRSP Season

RRSPs are not one particular type of product or investment, but instead can take the form of any number of financial products or investments.

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