The total net value of your estate represents what you will leave to your family when you die. It may include the following: Your residence; Cottage or other recreational property; Investment real estate; Stocks, bonds, mutual funds and commodities Life…
Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death…
Don and Kate were nervously anticipating Don’s upcoming life saving surgery. Don was also concerned that, should he not survive, Kate might not know everything that needed to be done upon his death. The night before his surgery he made…
One of the most common investment questions Canadians ask themselves today is, “Which is better, TFSA or RRSP”? Here’s the good news – it doesn’t have to be an either or choice. Why not do both? Below are the features…
Here’s an article that I came across in the Globe and Mail that I wanted to share which talks about Bank of Canada trends and what it might mean for mortgage rates heading into 2019. Let me know your thoughts….
According to the Canadian government website, Old Age Security is the largest pension program in Canada. OAS pays a monthly income to seniors who are age 65 and over. The amount of the payment is not based on past income…
For the 2020 tax year, the Government of Canada introduced a temporary flat rate method to allow Canadians working from home this year due to Covid-19 to claim expenses of up to $400.
Finance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:
• Corporate Tax Changes, including extensions to subsidy programs.
• Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.
• Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.
For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.
The new Canada Emergency Rent Subsidy is open for applications today! Unlike the previous program, this subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.
CERS covers up to 65% of rent for businesses, charities and non-profits impacted by COVID-19.
An additional 25% Lockdown Support is available during a public health lockdown order.
Ong Financial Planning Services Ltd.
John Ong, CFP, CHS, CPCA, CCS
Certified Financial Planner
Tel: (604) 323-3830
Email: 
1275 West 6th Avenue 3rd floor
Vancouver, BC
V6H1A6
