Most parents carefully plan to leave an inheritance to their children. Often overlooked is the possibility of sharing that wealth early, when children might need it more. If this option sounds appealing, there are 3 key issues to consider:
1. Now could be the best time to provide assistance to your child
Why wait? When adult children are in a typically stressful life phase, perhaps juggling tuition payments, a mortgage, childcare, and other significant expenses, the benefits of an early inheritance could far outweigh waiting.
2. Don’t compromise your own retirement
As we continue to lead healthier, longer lives, the cost of retirement only keeps increasing. Gifting children too much early inheritance shouldn’t leave parents incurring debt towards the end of their own retirement.
Canada’s economy is changing. At the national, provincial, and municipal level, Canada is reaching new heights in global rankings of wealth, innovation, and even quality of life.
Journalists and investors around the world are excited about developments and stand-out entrepreneurs from Victoria to St. John’s, and everywhere in between.
Here are 4 growing tech companies to watch:
Canada has always punched above its weight in economic and political influence. Despite a modest population and a slow and steady economy, Canada continues to boast the 10th largest economy in the world, valued at $1.6 trillion.
Our unique position offers challenges but many opportunities: deeply integrated into the world’s largest economy, we’re open for business with all of them.
Here’s how we stack up against the Top 4:
Several years ago, Canadians were uniquely positioned to benefit from a depressed United States real estate market. Low prices coupled with a strong CAD (Canadian dollar) presented some terrific buying opportunities.
In 2016, our plunging loonie (around $0.71 USD) coupled with a recovering U.S. housing market yet again uniquely positioned Canadian sellers of U.S. property to benefit from both capital appreciation and a favourable exchange rate. Even after accounting for the tax consequences of huge gains, sellers were left with significant returns.
Now that our dollar seems to be on the rise, the margin of gain might decrease compared to last year and it is important for potential Canadian sellers of U.S. property to understand the income tax consequences of a sale. Following are major key concepts with summarized explanations: