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Director and Senior Investment Counsellor
BMO Private Wealth
1340 Pickering Parkway
Pickering , ON
Focus is a weekly financial digest.
The monthly Global Markets Commentary provides an overview of recent global events and their impact on the markets.
2021 Market Outlook – The Continuation of the Roaring Twenties Recovery, Rotation and Reflation
Feb 26 2021 - With the pandemic devastating economic activity in Canada's major urban centers, Senior Economist Robert Kavcic takes a closer look at the existing trends, and temporary ones, that may impact the future of cities.
Fixed Income and Foreign Exchange Strategy. Outlines the firm’s short and medium-term interest rate and foreign exchange rate forecasts.
Executors are responsible for a variety of tasks ranging from funeral arrangements to filing income tax returns with the Canada Revenue Agency (CRA), to the final distribution of estate assets. If you are appointed Executor, our Task List will provide you with some guidance by describing the types of duties you will be required to perform
If you own a vacation property, this provides information on the tax consequences of selling a second home and highlights important estate planning considerations, if your plan is to keep your vacation property in the family for the next generation.
This is designed to help your family, executor (referred to as a “liquidator” in Quebec), or Power of Attorney for Property (referred to as a “mandatory” in Quebec) locate all of your important documents and other information needed to administer your estate or act as your Power of Attorney for Property
This article discusses common digital asset considerations and important information for making sure they are properly addressed in your estate plan.
The attached article – Preparing Your Last Will and Testament – explains various aspects of Will preparation including, the importance of appointing an appropriate executor, life events that warrant a Will review and the use of testamentary trusts.
April 30, 2020: A crisis can be a catalyst for action if you don’t have an estate plan – or even a Will. Here is a checklist to help ensure your estate plan is up to date, reflects your current wishes, and continues to align to your goals.
Investing in real estate has always been a popular investment strategy for building wealth, particularly in active housing markets and big cities like Toronto, Vancouver and Montreal. No matter where you choose to invest, the decision to purchase real estate should be reviewed with your tax and legal advisors to understand the tax and legal issues applicable to your particular circumstances, and to determine whether it is a suitable option for your situation.
Trusts are often used in tax and estate planning because of the flexibility they offer over the control, management and distribution of appreciating assets. In particular, the use of a discretionary family trust to reduce the after-tax cost of children’s educational and other expenses is a common tax strategy and the focus of this publication.
The shareholders' agreement is of great importance and value when a business is owned by two or or individuals. It ensures sustainability and continuity in the event that one of the owners were to pass away.
Predictability and continuity are the gold standard of business operations. Nothing is more disruptive than an unplanned event that sends shock waves throughout the enterprise. One of the greatest disruptors is the death of a principal owner or employee. Having solid business agreements in place provides better clarity and certainty for you and all stakeholders, including business partners, family members, employees, customers and suppliers. Regardless of the size and structure of your business, understanding and strengthening agreements, with contingencies in the case of your incapacity or death, is a vital part of estate planning for all business owners.
Whether you’re a new start-up business or a mature company looking to meet annual growth targets, a business plan can be an effective tool to meet your goals and achieve success. A key benefit of business planning is the ability to create a united team, focused on a specific direction set for the company.
When we speak of “business succession planning” for private companies, some people think only of tax and estate planning, while others may only consider a transition in the share ownership of a business. While those are each important elements of succession planning, on their own they do not cover everything that needs to be included in an effective succession plan.
Retiring from your own business can be difficult after having invested the better part of your working years to achieve success. And, business owners who want to pass on that successful business may be faced with a bigger dilemma of if and how to transfer the wealth they have accumulated through their business. A number of critical factors need to be considered including how they will exit from their business, the valuation of the business, family considerations and expectations and their own retirement plans.
As a business owner, the decision of when to sell your business must be carefully planned, and included as part of a long-term succession planning strategy. Planning for the sale well in advance allows you to prepare your business to ensure you’re in a position of strength to negotiate and maximize the proceeds of the sale.
EBITDA or earnings before interest, taxes, depreciation, and amortization is one of the most commonly used measures of a company’s overall financial performance. It is often a key measure in the valuation of a company. EBITDA is calculated by adding back interest, taxes, amortization, and depreciation expenses to the net income.
Selling their company is usually the largest and most challenging financial transaction of a business owner’s life. For most owners, selling a business only happens once and selling the business represents the culmination of their life’s work. Often the business bares their name and holds a place in their heart right next to the kids. For these reasons, selling the business is not just a technically challenging process, it’s also emotionally complex.
In the absence of planning, when an individual passes away owning shares of a private company, they could be exposed to double or triple taxation.
You have built a legacy and you want to protect it. Without a will, provincial law dictates how to your assets are distributed. This is one of the many reasons why drafting an up to date will is of the utmost importance
Research from Statistics Canada shows that between 2010 and 2013, the total amount donated by Canadians to charitable or non-profit organizations increased by 14% to $12.8 billion.1 In 2013 alone, the majority of Canadians (82%) made financial donations to a charitable or non-profit organization. In addition to annual donations, many people want to leave a lasting legacy, and cite charitable bequests as an important estate planning goal.
Like many Canadians, making the world a better place and creating a legacy aligned to your personal values, beliefs and convictions is an important wealth planning priority. Establishing a private foundation can help you achieve these priorities and give meaning and structure to your philanthropic goals. It can also help you to pass these values on to your children and grandchildren, by involving them and other family members in your giving strategy and family legacy.
Charitable giving is an important wealth planning consideration for many Canadians. While making a cash donation to charity is a common gifting strategy, Canadians often ask, “How can I do more?” By considering one of the following life insurance strategies, you can often magnify the benefits of your donation dollar compared to a traditional cash donation.
Philanthropy is an important financial planning consideration for many Canadians, and an integral part of their wealth management plan. A Charitable Gift Fund (“donor advised fund”), established through the BMO Charitable Giving Program, allows you to create a flexible and customized philanthropic solution that will have a lasting impact on causes that matter to you and your family.
Philanthropy comes in many forms, and the motivation to a support a charity can come from many places. Learn about the many different ways in which you can maximize your gift for the charities that need it the most
Transition into retirement with confidence. As you transition into retirement, keep in mind your income could come from multiple sources at different times of the month. You’ll need to know where that income will come from, how much you’ll receive, and when you’ll receive it. Before you retire, you’ll need to complete a variety of employer and government forms. This checklist will help you move into your retirement seamlessly.
A clear path to retirement requires a clear plan. If retirement is now on the horizon and no longer a distant goal, you’ll want to make sure preparing for it is a priority. Using this time to continue to save and build your assets, while paying off outstanding debt can really make a difference. This is also the perfect time to put some serious thought into what your retirement will look like. This checklist will help you do just that.
The pension income-splitting rules provide an effective, yet simple, strategy to lower family taxes. Being able to split pension income provides an opportunity for couples to reduce their overall family tax bill by taking advantage of a spouse’s or common law partner’s lower marginal tax rate where retirement incomes are disproportionate.
If you plan to spend your winters in the U.S., you should be concerned with more than just ensuring your passport is up-to-date and that your bags are packed. Snowbirds – Canadian residents who spend part of each year in the United States – need to be aware of the potential liability to pay U.S. income tax on the same basis as a permanent U.S. resident
A handy two-pager with all of the relevant rates, withdrawal schedules, contribution limits, etc, for 2021
A comprehensive guide to one of the most important tax breaks offered to Canadians
This publication briefly outlines the two methods for employees claiming 2020 home office expenses.
Prescribed rate loans are a popular strategy for shifting investment income from someone in a higher marginal tax rate to someone in a lower marginal tax rate. Learn more...