30 Nov

Are you a heart Patient and looking to cover your pre-existing condition under Super Visa Insurance Policy?

Are you a heart Patient and looking to cover your pre-existing condition under Super Visa Insurance Policy? Congested Heart disease is a condition in which your heart does not pump blood the way it should and your arteries get narrowed and blood flow is obstructed. A heart attack (also referred to as myocardial infarction) results [...]
30 Nov

Does Super Visa Insurance policy cover Cancer?

Does Super Visa Insurance policy cover Cancer? Cancer is the abnormal or malignant growth of cells which spread throughout the body destroying healthy tissue. The diagnosis of cancer is usually confirmed by a biopsy and the extent of the disease is established by other tests. Depending on its severity, cancer can be life threatening or [...]
30 Nov

Pre-Existing Conditions- Super Visa Insurance coverage for Alzheimer, Parkinson and Schizophrenia and Stroke?

Pre-Existing Conditions- Super Visa Insurance coverage for Alzheimer, Parkinson and Schizophrenia and Stroke? When buying Super Visa insurance policy from a  Canadian insurance company, one must take proper care in disclosing the medical issues, current health problems like diabetes, blood pressure, medical issues related to major organs, past surgeries etc. so that policy covers any [...]
24 Oct

Passive Investment Rules and Small Business Deduction

Budget 2018 Reduction of small business deduction (SBD) for CCPC’s that have significant passive investment income Theory appears to be a CCPC that has accumulated a material amount of passive investments ($1 million) is taking undue advantage of the tax deferral afforded by the small business deduction Will apply to tax years beginning after 2018 […]

Registered Education Savings Plan

REGISTERED EDUCATION SAVINGS PLAN (RESP) This plan allows subscribes to make non-deductible contributions to finance the post-secondary education of their children, grand-children, or any other qualifying beneficiary. Beneficiaries under the plan, if enrolled in a qualifying educational program, may receive payments of up to $5,000 for the first 13 week period of study and any […]

What is Home Buyer’s Plan?

HOME BUYERS’ PLAN (HBP) This plan allows a tax-payer and his/her spouse or common-law partner to each withdraw up to $25,000 from their RRSP to purchase their first home without having to pay tax on the withdrawal if they meet the following conditions: • They are first time home buyers (i.e., they have not owned […]

What is Pension Adjustment?

PENSION ADJUDTMENTS (PA, PAR, PSPA) The Pension Adjustment (PA), the pension adjustment reversal (PAR), and the past service pension adjustment (PSPA) have an impact on the RRSP deduction limit. Pension Adjustment The PA reduces the RRSP deduction limit for the following year, but has no effect on the taxpayer’s income. It measures the value of […]

Employers offered Pension Plans

REGISTERED PENSION PLAN (RPP) Registered pension plans allow individuals to accumulate retirement funds by means of at-source deductions against their salary. The employer and employee may contribute to an RPP with respect to services rendered by the employee in the year of during a previous taxation year. For more information on RPPs, see CRA Guide […]

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