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Charitable Gifting with Shared Ownership Universal Life Insurance

August 21, 2017import

Many individuals have realized their charitable aspirations by donating a life insurance policy to the charity of their choice.  In situations where that donation is a Universal Life policy, the use of a Shared Ownership strategy could prove to be…

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Preparing your Heirs for Wealth

July 18, 2017import

If you think your heirs are not quite old enough or prepared enough to discuss the wealth they will inherit on your death, you’re not alone. Unfortunately though, this way of thinking can leave your beneficiaries in a decision-making vacuum:…

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July/August COMMENT Newsletter

July 7, 2022Greg Smyth

COMMENT is an informative newsletter targeted to the unique niche that CLU advisors occupy in the financial services industry, with a focus on risk management, wealth creation and preservation, estate planning, and wealth transfer.

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Extended COVID-19 Federal Emergency Benefits

February 22, 2021Greg Smyth

On Friday, February 19, 2021, Prime Minister Justin Trudeau announced an extension to:

– Canada Recovery Benefit
– Canada Recovery Caregiving Benefit
– Canada Recovery Sickness Benefit
– Employment Insurance

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Self-employed: Government of Canada addresses CERB repayments for some ineligible self-employed recipients

February 12, 2021Greg Smyth

Great news for some ineligible self-employed Canadians who received the Canada Emergency Response Benefit (CERB)

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Government of Canada to allow up to $400 for home office expenses

December 29, 2020Greg Smyth

For the 2020 tax year, the Government of Canada introduced a temporary flat rate method to allow Canadians working from home this year due to Covid-19 to claim expenses of up to $400.

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Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

December 7, 2020Greg Smyth

Finance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:

• Corporate Tax Changes, including extensions to subsidy programs.

• Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.

• Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.

For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.

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Applications for the new Canada Emergency Rent Subsidy starts today!

November 23, 2020Greg Smyth

The new Canada Emergency Rent Subsidy is open for applications today! Unlike the previous program, this subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.

CERS covers up to 65% of rent for businesses, charities and non-profits impacted by COVID-19.

An additional 25% Lockdown Support is available during a public health lockdown order.

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Applications for Canada Recovery Benefit now open!

October 12, 2020Greg Smyth

The Canada Recovery Benefit (CRB) is now open for applications.

If you are eligible for the CRB, you can receive $1,000 ($900 after taxes withheld) for a 2-week period.

If your situation continues past 2 weeks, you will need to apply again. You may apply up to a total of 13 eligibility periods (26 weeks) between September 27, 2020 and September 25, 2021.

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New Canada Emergency Rent Subsidy | Wage Subsidy extended | CEBA additional $20,000 loan

October 9, 2020Greg Smyth

Great news for businesses! The new Canada Emergency Rent Subsidy will be available directly to business owners who need rent relief. The Wage Subsidy has been extended to June 2021. And the CEBA has been expanded to provide up to $20,000 interest-free loan.

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Applications for Canada Recovery Sickness Benefit and Caregiving Benefit starts today!

October 5, 2020Greg Smyth

Starting October 5, 2020, the Government of Canada will be accepting online applications for the Canada Recovery Sickness Benefit (CRSB) and the Canada Recovery Caregiving Benefit (CRCB).

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Throne Speech: Recovery Plan Highlights

September 24, 2020Greg Smyth

On September 23rd, in a speech delivered by Governor General Julie Payette, Prime Minister Justin Trudeau outlined the Federal government’s priorities.

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