🇨🇦 Martin Laurence 🍄

@i0livier On veut le modèle de chaque!

Mon 1er Mac: 1993 Mon 1er Macbook: 2000 Mon 1er iPod: 2003 Mon 1er iPhone: 2007 Mon 1er iPad: 2010

@rcbregman ²pl j

80% of billionaire political spending goes to one party. Guess which one.

@MarkMcGrathCFP It's gated :-(

I'm back to writing regularly! My first piece in a regular series for Globe Advisor is below: How my neighbour's dad lost his entire life's savings, and how a good advisor can help before it's too late.

@MarkMcGrathCFP @bdkoepke XEQT & rent

@bdkoepke Lol well put. I'm very close to selling my house and going back to renting actually 😂

@AravindSitham Thanks for the summary, much appreciated!

This one is interesting to me and some of the clients I work with... Trusts are subject to what is called the "21 year rule". Essentially this allows the CRA to say "we're treating it like all the assets in here were disposed of and we're charging tax on that disposition" which prevents someone from rolling the tax forward on said assets indefinitely. Now there was a loophole that would allow you to get around this. They are closing that loophole...effective today. So - anyone who was planning on doing that transfer this year or in the near future - just got handed a ticking tax time bomb.

Jumping to the "Tax Measures" where the rubber means the road of the Federal Budget 2025 - here are the items that either caught my eye out of interest or I think will be important for the clients/clientele I work with. Have no fear - nothing massively ground breaking at first thought. But let's dive in!

@AaronHectorCFP More precisely, the cost is currently 326.25$ per month, regardless of the number of days of daycare in that month.

@AaronHectorCFP Some caveats : daycare is 15$/day in AB currently and might increase substantially in March 2026 (once deal with federal government expires)

@AaronHectorCFP Health care coverage in AB is not immediate once you move (it is immediate in ON).

@AaronHectorCFP Quick question. AMT did not apply because of the year of death exception, right? Otherwise the math for the capital gain becomes more complicated...

Hopefully this provides some much needed clarity and context amongst a flurry of alarmist posts I've seen about this article.

My take on this article that has been making the rounds and making people upset: See thread below: ctvnews.ca/toronto/consum…

@AaronHectorCFP @MarkMcGrathCFP @GarretHohl Go on...

@MarkMcGrathCFP @GarretHohl Interesting anecdote, but there is a carve out to normal attribution rules for FHSA accounts as well…. Likely the first anyone has heard of this.

If you give your spouse money and they invest it, you have to pay the tax on it. This is why the attribution rules exist. Only way around this: 1. They invest it in their TFSA. Since returns are tax-free, no attribution. 2. You lend them the money and they pay you interest.

@AaronHectorCFP This is no fun at all!

If you ever think you might own a 2nd property, or if you ever think the Cdn tax rules for the principal residence exemption will ever be modified…. Track your adjusted cost base (that includes renovation expenses) on your primary residence. It may be helpful in the future.

@AaronHectorCFP Thanks. So January babies are favored for professional hockey, and December babies are favored for RESP grants! Seems fair...

Sorry for the delay, missed this! Yeah so it's calendar year. So there would be another $2,500 of room for the Nov-Dec 2024 period. You can go ahead and put that in now, because in any one given year you can get caught up on one prior year of missed contribution at a time. After this $2,500, another $2500 can go in as early as Jan 1 2026.

@AaronHectorCFP I have a dumb RESP question that the internet has failed to answer. My child was born in November 2024. To maximize the Canada Education Savings Grant, when should I contribute? I contributed 2500$ on Jan 9th, 2025. Next contribution date Jan 9th, 2026? Before?

@AaronHectorCFP The other obvious choices would be on his birthday, or on Jan 1st 2026. It is not clear what "per year" means. Is it calendar years? Years aligned with birthday? Year since last contribution? Year since RESP account was opened. This is not explained anywhere!

@MPelletierCIO $XUSC mostly addresses the top heavy concentration problem. 3% cap.

My piece this week on what we’re doing about the concentration risk in the S&P 500. Hint: time to return to the good old days of stock picking over passive investing. $BRK $GOOG, $AAPL

@AaronHectorCFP RESP?

@cvalle0625 @AravindSitham Thanks! What bothers me is an out of province (but in Canada!) liquidator. Estate in Québec, but liquidator lives in Ontario.

@AravindSitham @MartinGLaurence

Here's one way to add thousands of dollars to your estate bill when you die. Have an executor that resides out of the province/country. The province will often require a "surety bond". The cost of getting the bond can vary but could be as much as 1% -2% of the estate value.😱

@AravindSitham That's nuts!

Malassezia globosa strains isolated (grown) from ulcerative colitis patients gut washings. These strains are adapted to low oxygen environment of the gut, and cause severe IBD symptoms in a mouse model. Cho 2025.