The new rules governing CPP were introduced in 2012 and they take full effect in 2016. The earliest you can take your CPP Pension is age 60, the latest is 70. The standard question regarding CPP remains the same – should I take it early or wait?
Here’s a charming read about how one innovative nursing home turned things around at their facility.
Don’t Put Off Your Decision to Buy Life Insurance
2016 is an opportune year to buy life insurance. New laws affecting the taxation of life insurance come into effect on January 1, 2017. After this date new policies will not perform as well as they do currently.
Whenever the topic of Long Term Care Insurance (LTC) is brought up, most people’s reaction is to automatically assume the discussion is about caring for the elderly. While it is true that LTC coverage is a valuable tool to provide the necessary funds for when we are no longer able to care for ourselves, it should not be overlooked for younger people who are in the prime of their earning years but are unable to purchase the amount of disability insurance that they desire.
Or so the saying goes. This certainly is true in Canada where there is a “deemed disposition” when a taxpayer dies. What this means is that a taxpayer is deemed to dispose of all his or her assets at fair market value immediately preceding death.
67% are at Risk of Succession Failure
If you are an owner in a family enterprise, the likelihood of your business successfully transitioning to the next generations is not very good. This has not changed over the years. Statistics show a failure rate of:
Great video and financial comedy from Merle Hazard
Bluegrass with Merle Hazard, Alison Brown on banjo, Tammy Rogers King on fiddle, and Trey Hensley on guitar. Visit them at:
The Honourable Bill Morneau, Minister of Finance, recently announced the federal budget for Canada for 2016. We’ve put together an infographic to outline the highlights of the federal budget and what it means for families, retirees and business owners.