FHSA Update & Changes to RESP Drawdowns
21 Sep 2023We have two major announcements involving registered accounts here at SANDSTONE. First Home Savings Accounts will be coming later this Fall and details on the RESP Changes and Tax-Effi
Waiting for the Whale to Surface
31 Aug 2023This week we came across an analogy that related monetary policy to dead whale spotting… That’s right, central bank directors and fishermen have more in common than we ever could have imagined.
Changes to Family Business Transfers are coming sooner than you think
27 Jul 2023Canadian tax legislation is changing on January 1st, 2024, and there are huge implications for those who are looking to transfer their business to a family member.
How are First Home Savings Accounts taxed at death?
30 Jun 2023A First Home Savings Account (FHSA) is a new registered plan allowing a prospective first-time home buyer, to save for their first home tax-free (up to certain limits) with contributions being generally tax deductible. It can remain open until the end of its 15th anniversary, the FHSA holder turns 71, or the end of the year the FHSA holder makes their first qualifying withdrawal.
TFSA beneficiary vs. successor holder – the difference is HUGE!
30 Jun 2023Tax-free Savings Accounts (TFSA) are mainly known for their benefit of being tax-free. But there is another huge benefit of TFSAs, which is the ability to name either a beneficiary or successor holder on the account.
Our latest community partnership is a slam dunk!
26 May 2023To build on this legacy of giving and making a social impact, we are excited to be the lead champion of the Calgary Surge Assist initiative.