Author: levinefinancial

Finance confirms CRA will administer capital gains tax changes Whether Parliament is prorogued or dissolved, the agency generally continues to administer proposed legislation By Michelle Schriver | January 7, 2025 | Last updated on January 7, 2025 2 min read A day after the prime minister prorogued Parliament, the Department of Finance confirmed on Tuesday that the Canada Revenue Agency will administer the capital gains tax changes as proposed. “Although these proposed changes are subject to parliamentary approval, consistent with standard practice, the Canada Revenue Agency…

Yesterday evening OMA Insurance had a seminar on estate planning using life insurance. This seminar focused on understanding how assets are taxed when you and your spouse pass away and how life insurance can be used as an asset accumulation tool to save and disburse funds tax efficiently through your corporation while alive and after you pass away. Below are our planning tips on tax and how to use insurance as an estate planning tool. How are assets taxed when…

Physicians No Medical Life insurance offer. In November, we put together a no medical life insurance offer for Physicians. Here are some of the highlights. Coverage: Issue ages 18 to 70: $100,000 Issue ages 71 to 75: $50,000 Benefits: No medical exams or health questions. You can obtain coverage without providing any evidence of insurability. Level premiums for life. Easy application process using our on line application. Details Residents of Canada aged 18 to 70 can obtain insurance coverage up…

Physicians Incomes are increasing in Ontario In September, a Board of Arbitration, chaired by Mr. William Kaplan, released a decision awarding a 9.95 per cent increase for the first year of a four-year agreement between the Ontario government and Ontario’s doctors. The award is retroactive to April 1, 2024. The next three years of the Physician Services Agreement will continue to be negotiated between the province and the Ontario Medical Association. What does this mean for you? Disability insurance –…