See what our client's have to say...

"Wayne has been my financial advisor and planner since 2003. Over the years he has advised me on how best to invest my savings in a broad portfolio that takes advantage of tax sheltering investments. The goal of my investment portfolio was to provide me with a future retirement income with minimum tax payments and that milestone was finally reached this year. I look forward to continuing my financial relationship with Wayne and to seek his advice in all my financial investment matters."

- Mike.

Tax Planning

Learn effective strategies for saving for retirement or your children's post-secondary education.

Every citizen has a fundamental right to employ all the tax incentives applicable to him or her that are provided by the Government. Therefore, through prudent tax planning not only income-tax liability is reduced but also a better future is ensured due to saving in highly safe Government schemes. Ultimately the goal of tax planning is to minimize income tax paid, while maximizing your after-tax income.

Tax Planning Strategies and Considerations

Investment Income – we can assist you to recognize how gains from stocks, bonds, mutual funds and other investment income (interest, dividend and foreign) are taxed differently. This is key to optimizing your after-tax rate-of-return.

Borrowing to Invest  - when interest rates are low, you may be attracted by the strategy of borrowing to invest. We will help you determine if this strategy is right for you based on your financial goals and risk profile.

Income Splitting - is the reallocation of income among family members (including spouse, minor and adult child) to reduce the total amount of money paid by the family unit. We can show you how this well-accepted tax-planning method, of shifting income from a family member in a high tax bracket to one in a lower tax bracket can result in greater after-tax income.

Funding a Child’s Education – there are two savings plans many investors consider when putting aside money for a child’s post-secondary education: a Registered Education Saving Plan (RESP) or an In-Trust Account. Income earned in a RESP is tax deferred until withdrawn, annual contributions are limited and are not tax deductible. In contrast, income earned in an In-Trust Account is taxable each year. However, there are no limits to the amount of contributions, making it a flexible alternative.

Registered Investments - there are numerous types of registered investment vehicles available to help you save on a tax-efficient basis: Retirement Savings Plans (RSPs), Retirement Income Funds (RIFs), Locked-in Retirement Accounts (LIRAs), Life Income Funds (LIFs), and Locked-In Retirement Income Funds (LRIFs). We can help you decide which registered investment(s) are right for you.

Tax Shelters - are investments that provide significant deductions against your other taxable income. By taking these deductions, you can reduce your total taxable income and thereby reduce the amount of tax payable to the Canada Revenue Agency. We can work with you to determine whether this is a tax planning strategy you should employ.

Alternative Minimum Tax (AMT) - is designed to target high-income individuals who have significant deductions such as write-offs from tax shelters. We can determine whether this is good tax planning strategy for you.

Investing in the United States - for many Canadians, investing in the United States presents an opportunity for greater rewards and higher returns on their investments. We can help you understand how investments in the U.S. can affect your tax situation today and in the future, and whether this tax planning strategy is right for you.

Tax Free Savings Accounts (TFSA) - A TSFA is the mirror image of RRSPs – contributions are made with after-tax dollars but withdrawals are tax-free. But TFSAs have an interesting twist because any withdrawal from the account creates an equal amount of contribution room. Click here to find out more.

*Only mutual funds activities are supervised by the Global Maxfin Investments Inc