“Final Pivot” – COVID-19 Emergency Benefits expire October 23rd, replaced by targeted supports

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On Thursday, October 22nd, Deputy Prime Minister and Finance Minister Chrystia Freeland announced the "final pivot in delivering the support needed to deliver a robust recovery." This "Final Pivot" means several existing pandemic support programs for individuals and businesses will expire on October 23rd, 2021: -  Canada Recovery Benefit (CRB)  -  Canada Emergency Rent Subsidy (CERS)  -  Canada Emergency Wage Subsidy (CEWS) 

Estate Freeze

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No business owner likes to think about handing over their business they've built from the ground up. But the fact of the matter is, you will have to do it eventually. Even more concerning, what if you were to become ill or incapacitated? Making a decision of this magnitude during trying times would not be ideal. For the business owner, an estate freeze can be an integral part of your estate planning strategy. The purpose of an estate freeze is to lock-in (freeze) the value of the business, freeing the successor from the tax liability that may arise should the business' value increase.

What Are The Benefits Of Opening A TFSA?

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Have you been considering opening a Tax-Free Savings Account (TFSA) to strengthen your retirement plan? Perhaps you are considering opening a TFSA but are not quite sure how it could be used to complement your existing RRSP. Every individual has a different wealth management strategy and retirement goals, so you should speak to a financial advisor to determine if a TFSA is right for you. Below is a helpful guide to determine if a TFSA would make sense for your wealth management strategy.