With summer in full swing, and the real estate market at a peak of activity, Canadians are qualifying for mortgages in droves. If you get a mortgage, you’ll want to protect yourself with insurance – either mortgage life insurance or personal life insurance. But which is the better option? Although mortgage life insurance might seem […]

The current edition of Ontario Dentist recently contained a short article on Critical Illness insurance (CI). The article refers to the Split Dollar CI strategy (i.e. using a combination of corporate and personal dollars to fund CI premiums) that I’ve been advocating for a several years.  read my perspective below on the article and on […]

We hope you enjoyed “Are we in for the Roaring 20’s 2.0”   Now here is Part 2! As we look to the post-COVID-19 future that is hopefully just ahead, the stage is set for a period of rampant consumer spending that could look a lot like the 1920s. A decade that ended very badly […]

The “Roaring Twenties” began after the 1918-19 global pandemic and ended when the stock market crashed in 1929, ushering in the Great Depression. Among several reasons for the crash, an overheated economy driven by out-of-control, debt-fuelled consumer spending was partly to blame.   In 2021, as we look to the post-COVID-19 future that is hopefully […]

A TFSA is a Tax-Free Savings Account to which you can contribute at age 18 or older. Here’s how you can benefit from a TFSA: You don’t pay tax on any money earned in a TFSA or on money you withdraw. There’s no contribution deadline, which means you can contribute to a TFSA at any time. […]

A Registered Retirement Savings plan is an important part of smart financial planning. Not only do RRSP contributions help you plan for your future, they also reduce how much you have to pay in income tax. Your annual RRSP contribution limit is 18% of the prior year’s earned income to a maximum of: 2020 = […]

Regardless of whether the need is primarily personal, we almost always recommend owning and paying for life insurance in your Professional Corporation (or Holding Company if you have one). The difference between corporate and personal tax rates can result in a significant savings in premium, while the tax-preferred treatment of the death benefit will still […]

There is no doubt that the implications of Covid19 have been terrible for businesses and consumers alike. We’ve all experienced changes rolled-out by businesses to align their processes with social-distance requirements. Life Insurance companies are no different……and in this case the changes are positive for the consumer! Traditionally, only the very young or those purchasing […]

We have you covered! 1. We’ve been told it would be better to buy our disability insurance now or as soon as possible. When should we be considering buying long term disability insurance? We recommend obtaining the coverage as soon as possible, but at the latest, while you are in 4th year. It is while […]

A solution for incorporated Dentists to obtain both sickness benefits and tax savings Shared Ownership refers to the situation in which more than one party owns an interest in an insurance policy. With the recent changes to the taxation of professional corporations, we have seen a lot of interest in using this strategy with Critical […]