Canadians are fortunate to have access to public health care services but when accessing these services, there are key health and wellness needs that are not covered by government programs. A significant amount of health care needs are paid for privately. This includes services like dental and vision care, prescription drugs, out-of-country coverage and more. A […]
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TFSA increase announcement
It’s official! The TFSA contribution limit for 2023 has officially increased to $6,500. This represents the first annual increase since 2019. This limit increase means that eligible Canadians will now have a cumulative lifetime TFSA contribution limit of up to $88,000. Take advantage of the ultimate tax-free investment vehicle in Canada! Contact us […]
2022 RRSP Contribution Deadline is March 1st!
RRSP’s are one of the single best long-term savings vehicles available to you. They boast big tax advantages by allowing you to deduct your contributions from your income and can generate a healthy tax return in the process! Don’t miss out on maximizing these advantages! Your annual RRSP contribution limit is 18% of your prior […]
Details on the Canada Dental Benefit
What is it? A benefit that will provide dental care to children under 12 years old, who don’t have access to private dental coverage. Who is Eligible? Children under 12 who have no access to private dental coverage. There are additional household income criteria that determines the amount of coverage the child can receive: For […]
Employment Insurance Benefit Changes
What is changing? The federal government will extend EI sickness benefits from 15 to 26 weeks effective December 18th, 2022. What decisions and actions do employers need to take? While there is no requirement to align to the 26-week EI sickness period, employers still have a choice they can make. There are two main paths […]
Providing an Employer Sponsored Savings Plan improves employee attraction and retention.
Providing an Employer Sponsored Savings Plan such as an RRSP or Deferred Profit Sharing Plan improves employee attraction and retention. According to a 2022 survey by Maru Group Ltd. on behalf of the Healthcare of Ontario Pension Plan, 66% of Canadians would rather have a lower salary and a pension than a higher salary with […]
When should you start collecting CPP?
Should you take CPP early or defer until you’re 70? Our CPP calculator shows your estimated monthly and total payout amounts so you know the best age to start collecting retirement benefits.
GICs are back in financial style!
It’s been over 15 years since GICs have paid a decent amount of interest. And now, with the Bank of Canada raising interest rates by 2.25% over the past 5 months, investing your money in a GIC is officially back in style. A Guaranteed Investment Certificate (GIC) pays a guaranteed rate of return by the […]
Creating your “Right to Disconnect” Policy
The Ontario governments recently enacted Bill 27, “Working for Workers Act” requiring employers (with more than 25 employees), to have “a written policy in place for all employees with respect to disconnecting from work”. Bill 27, Working for Workers Act requires a policy, not necessarily a requirement to allow employees to disconnect. The Employment Standards […]