You are investing in the Canadian stock market which has enjoyed a robust average annual growth of 8.5 per cent for the last 30 years. Yet, your investments have you perplexed or more likely depressed, because these stock market gains are not … [Read more...]
Just for Doctors Newsletters
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Apr, 2019 Federal budget splurges on zero emission vehicles
April 2, 2019 by
The government in its latest federal budget has put aside $300 million as an incentive to purchase zero emission vehicles (ZEV). The monies will be spread over three years and will give buyers $5,000 toward the purchase of a ZEV. The incentive … [Read more...]
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Apr, 2019 Manage energy, not time
April 2, 2019 by
The number of hours in a day is fixed, but the quantity and quality of energy available to us is not. This fundamental insight is the main theme in the book “The Power of Full Engagement” by Jim Loehr and Tony Schwartz. The book came out 10 years … [Read more...]
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Mar, 2019 The 2019 Federal Budget – what’s in it for you?
March 21, 2019 by
Spoiler alert: the dividend to capital gain conversion survived Here is an executive summary of Tuesday’s Budget: No Tax Rate Reductions– the 2019 Federal Budget contained no personal or corporate tax rate reductions. Intergenerational … [Read more...]
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Mar, 2019 Life after medicine: retirement tips from doctors who are already there
March 21, 2019 by
The American Medical Association surveyed 1,200 retired physicians for its 2018 report on retired physicians to find out what makes for a successful retirement. The report found a large majority of retired doctors – 80 per cent – have a satisfying … [Read more...]
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Mar, 2019 Should you delay receiving old age security benefits?
March 21, 2019 by
Anybody age 65 or older who has lived in Canada for at least 40 years after age 18 is eligible to receive the maximum Old Age Security (“OAS”) benefit. For the first quarter of 2019, the maximum monthly payment is $601.45. No contributions are … [Read more...]
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Mar, 2019 Tax Deduction Checklist
March 7, 2019 by
Meals and Entertainment Maximum amount that can be claimed is 50% of the actual cost of food, beverages and entertainment and incurred. The 50% limit also applies to gift certificates for food and beverages and tickets to … [Read more...]
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Feb, 2019 Plan your 2019 Taxes Now and Save Big!
February 20, 2019 by
Many doctors are taking advantage of a tax strategy of converting the regular dividends from their corporations into a capital gain generating huge savings. To illustrate, the capital gains tax on $200,000 of income from the corporation is about … [Read more...]
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Feb, 2019 Setting Up a Corporate Health Plan
February 20, 2019 by
The beauty of setting up a corporate health plan is that it allows you to write off medical and dental expenses for yourself and your dependents against your medical income, without creating a taxable benefit. Not having to report personal medical … [Read more...]
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Feb, 2019 Practice Expenses Tax Auditors Love to Challenge
February 5, 2019 by
Many practice expenses, including conferences and travel, have a personal component giving lots of opportunity for a CRA auditor to argue they are not practice-related but personal in nature. There are three tests you must meet for a … [Read more...]
