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Estate Planning

WHY IS ESTATE PLANNING IMPORTANT?

Estate Planning
Who
Priorities
Who
  • Age 65 and over
  • Increased Net Worth
  • No longer working or working part time
Priorities
  • Mortgage is paid off
  • Little to no debt
  • Staying on budget
  • Living off savings
  • Reducing income tax
  • Taking care of the “What-ifs?”
  • Long Term Care
  • Premature Death
  • Make a will
  • Consider powers of attorneys
  • Making sure health insurance is adequate
  • Estate Planning
Learn More

Latest News

Protecting Estate Values When Your Investments Decline

April 5, 2019import

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…

The Need for Corporate Life Insurance

March 22, 2019import

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…

“If anything should happen to me….”

February 5, 2019import

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…

TFSA or RRSP? 2019

January 19, 2019import

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…

What does the New Year hold for mortgage rates?

December 17, 2018import

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….

Steps to Avoid the OAS Clawback

November 12, 2018import

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…

Government of Canada to allow up to $400 for home office expenses

December 29, 2020John Ong

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.

Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

December 7, 2020John Ong

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.

Applications for the new Canada Emergency Rent Subsidy starts today!

November 23, 2020John Ong

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.

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Contact Us

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

Latest News

  • The Case for Life Insurance
  • Are Segregated Funds Right For You?
  • Impact of Recent Events On Your Estate Plan

About

John has been providing financial planning advice for over 15 years. John is currently licensed as a life insurance agent, accident & sickness agent, mutual funds representative*, Certified Financial Planner, Certified Health Insurance Specialist, and Certified Professional Consultant on Aging. He specializes in personal financial planning advice with an emphasis on risk management, estate & retirement planning.

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