Tax Planning

Explore tax-efficient strategies

My team and I will stay on top of tax policies to help you be aware of tax deductions. You'll get support with: 
  • Structuring your investments and savings to help improve tax efficiency. 
  • Adjusting your business activities to help reduce tax burden. 
  • Putting plans in place to pass on your wealth in the most tax-efficient way possible. 

Advanced tax strategies for high-net-worth individuals

Just as your ambitions are uniquely your own, so too is your tax situation. No single tax strategy will fit all scenarios. Instead, your tax obligations may require a personalized guiding plan with annual consultations with tax advisors as your wealth accumulates or your business evolves.

Charitable donations

Who might consider this? Anyone who wants to make a sizable contribution or become more involved with their favourite charity.

The tax benefits of eligible charitable donations are available to all Canadians and you may earn tax credits which can lower the amount of tax you owe. Donations can be claimed for the previous five years if they haven't been claimed previously.

There may be another option for high-net-worth individuals who may want to consider giving more to their favorite charity and earning greater benefits. Through a donor advised fund, a benefactor can set up their own account with a minimum of $10,000 with an established foundation and will receive the donation tax receipt up-front. The fund can also provide flexibility if you are initially unsure which charity to donate to as there is no obligation to give immediately to a specific charity. In the meantime, you can continue to contribute to your fund and your money can continue to grow.

As well as a tax credit, donating investments directly can potentially eliminate the capital gains tax on eligible securities. Eligible investments include investments trading on designated stock exchanges, segregated funds, mutual funds, and government bonds. Calculating the tax benefits is complex and depending on your situation, donating the investments, and receiving a tax credit may be more beneficial than selling the investments and facing capital gains.

Individual Pension Plans

Who might consider this? Executives with high incomes and small business owners.

High income earners may find at some point in their career that Registered Retirement Savings Plans (RRSPs) may leave too much wealth exposed to tax. An alternative solution is an Individual Pension Plan (IPP), a registered and defined benefit pension plan that a company can structure for their executives. A small business owner may also benefit from an IPP although to qualify they must pay themselves a salary.

An IPP can create more contribution room over and above RRSPs, and contribution room can significantly rise from there until age 65.