Significant changes to the Canada Pension Plan come into effect in 2019. Start getting ready now.   Despite having to pay more for CPP, companies should aim to keep their group RRSP or private sector pension plans.   In 2019, new CPP rules will come into force. While that may still seem like a long time away, business owners impacted by the new enhancements need to start planning for the changes today. “If you are a small business...

Understand the pros and cons of giving part of your estate to your kids sooner, rather than later. Some parents like the idea of giving a gift of money to their children during their lifetime – to allow them to have cash when they really need it, whether to pay for a wedding, fund their education, or purchase a home. If you go this route, make sure you are comfortable with the amount you are giving, and know that once you make the gift, you...

RRSP accounts are straightforward enough, but there may still be a few things about them that will surprise you. Many Canadians already know that a Registered Retirement Savings Plan (RRSP) is a valuable – and versatile – retirement planning tool, but there’s more to these accounts than meets the eye. Here’s what most of us do know: RRSPs are typically used as a long-term savings vehicle. The money we put in grows tax free until we take those...

A new school year can be a great time to teach your kids about money. Here’s how to help them shop for supplies and spend their allowance wisely. They’re the age-old questions for families: Should kids get an allowance and how do you decide how much to give? While each family needs to decide what works best for them, here is some advice and common rules-of-thumb to help you. Should children get an allowance? If you decide to give an allowance,...