All Posts (584)
Sort by
Do to the social requirements of Facebook paying the government money every time an article is posted on their site and their decision not to do that, since they have banned all news, it's kinda put the end to many recipes for my Facebook page Kitchen Moments, https://www.facebook.com/NewKitchenMoments so this will be the work around and file central till the regime changes or the policy changes.
will start with this one
https://www.grainews.ca/farm-life/froese-farmers-need-to-find-time-for-family/
Reading the article the principles apply to farm and other business as well. The farm seems to have a greater hold on us, the tasks are daily especially if there is livestock on your farm, no matter the size. For me, we have a milking goat. Getting someone to milk Ivy has been a challenge, easier to just stay home. It's just 5-10 minutes twice a day yet it held me back from leaving our place. Fortunately we found a young couple that wanted to help, we're trainable, this one thing allowed me to feel comfortable in leaving our small operation in their care. Going forward I need to make sure I have a backup, and that means cultivating the relationships that allow me to leave the farm with confidence that the care will be available. My operation is small scale, yet it doesn't take much to hold one back. A little trust, a little training , a little confidence develops and freedom flows, creating opportunities for my family to travel. To be able to respond to inevitable future happenings. Backup , so important, what if there is an emergency to tend to a family matter, a death, an accident, backup, means you have it covered. Line a fire alarm test, test the backup, get away , the strsss and anxiety level will go down. Yes we have to do this, on the farm, in our businesses. The challenge, make it so. Thuringia should run with or without our you. That will make what you have more valuable, and enhance your family relationships .
TLR
ps , even a place for the 2nd dog to be cared for, yes take one with you, if there is two, that extra pup adds stress, one is manageable ( for us ) Rose is happy with friends, licking up the opportunity for adventure, and new hugs and walks with our friends, sharing her love 💕
Open letter to Members of Parliament re: Underused Housing Tax Act
Bad legislation deserves to be pushed back against.
How to share your voice with your MP:
1. Click the following link to access the open letter:
https://lnkd.in/ehWd6dvZ
2. Copy the letter and paste it in a new email.
3. Ensure you change the date, your MPs name and your name.
4. Send the letter to your local MP, the Minister of Finance and the Prime Minister.
** A link to all MP email addresses is included in the Legacy Tax webpage above.
#uht #tax #housing #legislation #taxpayer #billofrights #penalties #canada
"Of the myriad duties executors must perform, disposing of the deceased’s remains is one of the first and most fundamental obligations.
“[Executors] have a right of possession of the remains and a positive duty to dispose of the remains in a dignified and appropriate manner,” said Monique Charlebois, an estate lawyer in private practice in Oakville, Ont. and a former senior estates counsel with the Office of the Public Guardian and Trustee in Ontario."
** The only safe way to boast is by constructive actions.
------------------------------------------------------------
It has been said that it’s not boasting if you can really do it. This may be true, but a far more persuasive argument is made when you do it first and talk about it later. Besides, good things that are said about you always carry more weight when they are said by someone other than yourself. When you find yourself tempted to wax eloquent about your achievements, force yourself to pause for a moment, take a deep breath, and ask someone else about their achievements.
Permanent link to this post: The only safe way to boast is by constructive actions. (https://naphill.us2.list-manage.com/track/click?u=4c4529ce36ccec0645d107769&id=9bd3d2112d&e=687c10efc5)
... I got blocked today from sharing an article on facebook as it was considered news and news is banned in Canada due to some crazy social bills the gov has implemented, so a work around today , at the moment, ppost on linked in, then share that link on fb , it worked
https://www.linkedin.com/feed/update/urn:li:activity:7123621546606153729/
I came across this story on facebook a couple day's ago, wonderful story, made me almost shed a tear. Enjoy, Reflect
TLR
Today someone asked about my fork tattoo (which most of the time I forget I have) but I’m glad they did. I needed the reminder of what it symbolized. I have a couple friends that are going through tough times right now. I hope they find peace in this message. For those who don’t know what it means, I’ll share the story below.
“There was a young woman who had been diagnosed with a terminal illness and had been given three months to live. So as she was getting her things ‘in order,’ she contacted her Pastor and had him come to her house to discuss certain aspects of her final wishes.
She told him which songs she wanted sung at the service, what scriptures she would like read, and what outfit she wanted to be buried in. Everything was in order and the Pastor was preparing to leave when the young woman suddenly remembered something very important to her.
‘There’s one more thing,’ she said excitedly.
‘What’s that?’ came the Pastor’s reply.
‘This is very important,’ the young woman continued. ‘I want to be buried with a fork in my right hand.’
The Pastor stood looking at the young woman, not knowing quite what to say.
‘That surprises you, doesn’t it?’ the young woman asked.
‘Well, to be honest, I’m puzzled by the request,’ said the Pastor.
The young woman explained. ‘My grandmother once told me this story, and from that time on I have always tried to pass along its message to those I love and those who are in need of encouragement. In all my years of attending socials and dinners, I always remember that when the dishes of the main course were being cleared, someone would inevitably lean over and say, ‘Keep your fork.’ It was my favorite part because I knew that something better was coming, like velvety chocolate cake or deep-dish apple pie. Something wonderful, and with substance!’
‘So, I just want people to see me there in that casket with a fork in my hand and I want them to wonder, ‘What’s with the fork?!’ Then I want you to tell them: ‘Keep your fork. The best is yet to come.’
The Pastor’s eyes welled up with tears of joy as he hugged the young woman goodbye. He knew this would be one of the last times he would see her before her death. But he also knew that the young woman had a better grasp of heaven than he did. She had a better grasp of what heaven would be like than many people twice her age, with twice as much experience and knowledge. She KNEW that something better was coming.
At the funeral people were walking by the young woman’s casket and they saw the cloak she was wearing and the fork placed in her right hand. Over and over, the Pastor heard the question, ‘What’s with the fork?’ And over and over again he smiled.
During his message, the Pastor told the people of the conversation he had with the young woman shortly before she died.
He also told them about the fork and about what it symbolized to her. He told the people how he could not stop thinking about the fork and told them they probably would not be able to stop thinking about it either. He was right.”
So the next time you reach down for your fork let it remind you, ever so gently, that the best is yet to come.
Friends are a very rare jewel, indeed.
They make you smile and encourage you to succeed.
Cherish the time you have, and the memories you share
. Being friends with someone is not an opportunity, but a sweet responsibility
And just remember…keep your fork!
The BEST is yet to come!”
https://www.facebook.com/photo/?fbid=3835595673205675&set=a.105152419583371
https://www.investmentexecutive.com/inside-track_/jamie-golombek/year-end-compensation-planning
Year-end compensation planning | Investment Executive
Charted: The Key Investment Theme of Each Decade (1950-Today) (visualcapitalist.com)
https://advisor.visualcapitalist.com/key-investment-theme-each-decade-since-1950/
Visualizing the Key Investment Theme of Each Decade
Over modern history, a key investment theme has broadly characterized each decade.
In each case, a particular asset class, sector, or region captivated investors for an extended period, driving returns and outperforming the rest of the market.
This graphic shows 70 years of key investment themes, based on analysis from Ruchir Sharma of Morgan Stanley Investment Management via NS Capital.
Investment Themes by Decade
These decade-defining themes are often the product of a confluence of factors, including the macroeconomic environment, geopolitics, monetary policy, or other structural shifts like technological disruption.
Here are the central investment themes since the 1950s, each with at least 400% cumulative returns over each period:
Going to post a few articles in the comments related to the impact of war on the markets. Will start with this one.
Military conflicts haven’t derailed the long-term growth of stocks – AdvisorAnalyst.com
Key takeaways
Market historyMarkets, over more than 120 years, have experienced a long-term advance despite war, recession, oil shocks, political assassinations, and much more. |
Military conflictMilitary conflicts test investors’ resolve to stick to their investment plan, but history suggests these events have not derailed the long-term growth of markets. |
Differences from 1973The market fall after the Yom Kippur War in 1973 may be concerning to investors given the parallels to today’s conflict, but there are very significant differences. |
ESG is Still Important, Responsible Investing has always been important.
The green washing I have seen the last few years was concerning. Here is an interesting article on the matter and how it has been abused, leading to what the author causes it's death.
https://www.directorsandboards.com/board-issues/esg/opinion-what-killed-esg/
"The topics within the purview of ESG metrics are incredibly important. They’re legitimate prompts for business operations and will continue to impact performance and future prospects."
Gleaned from my email today from Directors & Boards a great resourse.
|
https://www.advisor.ca/tax/tax-news/inflation-to-trigger-another-rise-in-tfsa-limit/
"
The annual TFSA dollar limit is fixed at a base amount of $5,000, indexed to inflation for each year after 2009, and rounded to the nearest $500. According to Provost, the underlying TFSA dollar limit by indexation for 2024 is $6,858.85. That underlying limit is then rounded to the closest $500 increment, or $7,000.
That means the total contribution room available in 2024 for someone who has never contributed and has been eligible for the TFSA since its introduction in 2009 is set to be $95,000, up from $88,000 this year."
“My name is Steve Crain. Like many of you here, I am one of the survivors of the sinking of RMS Titanic. Today I want to honour one man whose heroic actions changed the future of my life.
I can remember floundering for my life in the sea. The cold cut through me like a knife. It took all my energy to cry out for help. My only hope of survival in those freezing waters, debris from the doomed ship, a wooden spar. I didn’t want to die.
Suddenly, over the cries of other desperate passengers, and beyond the macabre sight of the bodies of those who had already succumbed to the North Atlantic’s bone-numbing waters, I could make out the form of a man swimming from person to person through the swirling waters and finally toward me.
He was trying to say something. As he drew near to me, I saw that he wasn’t wearing a lifejacket. I then realised I had met him earlier in the voyage. I had often heard him speaking to individuals and small groups of passengers about their need to receive Christ as their Saviour. More often than not, those who listened were more interested in enjoying their life in the here and now rather than worry about where they were going after death. Though both friendly and persuasive in his Gospel presentations I, like others, walked away not ready to believe his message.
With sheer determination, Harper took hold of the debris I clung to. His face was pale, his lips blue from imminent hyperthermia, above the sound of the turmoil around me though his voice was weakening I heard him ask,
“Are you saved?”
I replied, “No.”
Harper shouted the words, “Believe in the Lord Jesus and you shall be saved.”
Even in my desperation, something in me wanted to reject his offer.
Waves drifted us apart, but a few minutes later the current brought us together.
In one final attempt to persuade me to accept the remedy for my lost soul, again Harper shouted,
“Are you saved?”
He asked me to believe in Jesus. Then he slipped under the waves for the last time, never to be seen in this world again. I was touched. Given that second chance and with untold miles of water beneath my frozen feet, then and there I gave my life to Jesus.
Not long after, I was plucked from the waters and found myself in a lifeboat, saved from physical death. As I sat there bobbing on the ocean swell, I was acutely aware of an unexpected stillness and peace within me. I knew something had happened within me and that I was also saved from sin’s deadly power, safe in Christ, my heavenly lifeboat.
I was John Harper’s last convert!”
----------------
Steve Cain
Re: Pastor John Harper
Titanic Survivor’s Meeting
Ontario, Canada,
1916.
Why should I get an appraisal done on my income property ?
1. Subject: Capital Gains Appraisals
"Hi Tim,
I had a couple questions for you regarding capital gains for income properties. Who would request an appraisal for capital gains calculations when it comes to income properties? Would that request come directly from the CRA? Or is that something that is recommended by accountants? Trying to get a feel if these appraisal requests are pretty common. Thanks again."
Typically an appraisal like this is recommended to get a handle on what the potential Capital Gains will be on a property if sold, or if transferred ie, in an estate or tax plan. I could see this being a good market for sure.
Sometimes we want to justify a higher price and sometimes a lower price depending on the goals and objectives of the plan. So having a range is pretty important. CRA typically does not request this unless they are looking for a 2nd or 3rd opinion. Having the info for planning purposes is very helpful when giving advice for this. Sometimes people will get a realtors opinion on it as well, so they could be a potential niche market for referrals, helps them reduce some liability and gets that job off their to do lists.
Those are my main thoughts on the matter, if I can think of anything else I will let you know. Also happy to answer any questions you may have about it, even a sounding board if you like, I would be good for that.
One other thought, it would be great if the appraisal disclosed purchase info of the property, peoples memories are not always the best, if it’s in the appraisal, those mysteries are resolved and helps establish some cost basis for tax purposes, will not be all of them, but a basis just the same. I see that being very useful, as those numbers will reveal clues to how much depreciation may have been claimed in the past, potential mismatches to values on the tax return, etc. and that will be useful and provide confidence in the estate planning process.
Hope that helps
TLR
PS: I am sure there is some great articles writen about this, as I find them, I will post them in the comment section
In this posting will provide an overview of investment costs, financial advice some FAQ.
Let's start with this video on Understanding MER's , you will find MER fees stated on Fund Fact Sheets.
https://www.youtube.com/watch?v=gkq86w9aIa4
What is an MER? An MER is the total cost of running a mutual fund for a year, expressed as a percentage. The MER is the total of the fund's management fee, operating expenses (or fixed administration fee) and provincial/federal taxes charged to the fund during that year.
Watch the Video
The transcript ....
What is an MER?
It’s important to understand the costs of investing. And when comparing options, it’s equally important to understand the value you receive for what you pay. Let's take a closer look.
The cost of a mutual fund is the MER or Management Expense Ratio.
Let’s take a look at the MER for two different series of a mutual fund – Series F and Series A.
Series F only reflects the cost of the fund itself. It is used in fee-based accounts, where your advisor charges a separate fee for advice and service. The MER for Series F includes the fee paid to the mutual fund company for investment management, the fund’s operating expenses and taxes. Let’s start with the investment management fee. In our example, the management fee is 60 basis points, or 0.60 percent per year.
We’ve used that figure because it’s the fee charged on a typical Canadian equity fund from RBC Global Asset Management. A typical fixed income fund fee would be lower. So, what does the investment management fee cover? It pays for professional investment management and research, risk management and oversight, the service and support for you and your advisor’s firm, and the day-to-day management of the mutual fund company.
Let’s look at the second component of the MER – operating expenses. These are typically in the neighborhood of 10 basis points or 0.10% depending on the fund. Operating expenses include the costs associated with unitholder recordkeeping and other day-to-day expenses such as accounting and fund valuation, custody, audit and legal services, regulatory filing and costs of preparing and distributing annual and semi-annual reports and prospectuses.
The management fee and operating expenses are subject to tax at a rate that is determined by the tax rate in the provinces where the funds’ unitholders live. We’ve estimated 8 basis points in our example as HST is generally between 10-13% So, adding up all the components, the total is 78 basis points, or 0.78% per year. Now let’s look at the MER for Series A.
Series A reflects the cost of the fund AND includes a fee payable to your advisor for advice and service. In this case, the Management fee is made up of an investment management fee – which we already discussed – and a trailing commission. Instead of paying your advisor separately, the trailing commission is collected as part of the management fee and paid to your advisor’s firm by the fund company.
The trailing commission is an ongoing fee paid to your advisor’s firm and the financial advisor who provides ongoing financial advice and service. It is often called the “fee for advice.” So what does the “fee for advice” cover? It can be broken down into three components: The first is Advice: Your financial advisor provides you expert advice on a variety of matters like selecting the right investments to meet your needs as you plan for retirement, seek income or save for life events, building financial plans, tax planning, and monitoring and rebalancing your portfolio to name just a few.
The 2nd component is Access, which covers the infrastructure required by your financial advisor and their firm to support the distribution, sale & servicing of mutual funds. And the third component is Service. Things like trade confirmations, opening and closing accounts, issuing statements and other client communications and regulatory compliance activities.
In our illustration, the trailing commission is one percent, which is a typical percentage for an equity fund. In general, trailing commissions range from 0.5 percent to 1 percent. For an investment of $100,000, a 1% trailing commission would pay your advisor’s firm $1000 for the advice and service they provide you. When you add up the management fee, operating expenses and taxes for Series A, the total is 189 basis points, or 1.89% per year.
Let’s talk about fees and your returns. It’s important to remember when you check how your fund is doing that Performance is reported NET of the MER. That means the fund’s performance is calculated AFTER the MER deducted. So the returns you see are the returns you actually receive. As you’ve learned, there are different fees, depending on whether you own Series F or Series A.
Remember, Series A will have a higher MER because it includes the trailing commission that pays for advice, access and service. Series F is used in fee-based accounts, where any fees for advice, access and service are billed directly by your advisor’s firm.
At RBC Global Asset Management, we offer Series F and Series A. to support the different ways that investors and advisors choose to work together. We hope this introduction to MERs answers most of your questions. If you want to find out more, please see the other resources listed on this page or talk to your advisor.
https://www.youtube.com/watch?v=L-UjHVj5bmw
https://www.youtube.com/watch?v=aE-UpB9S1Y4
https://www.youtube.com/watch?v=0TyhjO8aRrs
Todays FAQ was about rsp deductions and the impact of taxes.
"Greetings Tim,
I need your expertise to help me understand how RRSP withdrawals & taxes held back by the government work.
The government website indicates that anyone withdrawing RRSP's over $15000.00 is required to pay a 30% holding tax to the government. How is this tax calculated at the time of withdrawal? i.e. $30,000.00. What would the taxes withheld by the government be on that amount?
When given the figures something didn't sit right with me. Want to make sure prior to signing anything."
******
For RSP withdrawals. The government mandates that taxes be withheld at source. The amount ( percentage) depends on the total gross withdrawn.
For amounts over 15,000, 30% is deducted and sent to CRA and you receive the net amount.
For your example of $30,000 , 30,000 X 30% = 9000 tax , net to you is 21,000.
The 30,000 becomes taxable income in the year you do the withdrawal. So if your doing this now, it would be year 2023. You will then be taxed for your total income in the year and what we call a marginal tax rate would kick in. You will receive a T4RSP tax slip for year 2023 next year usually by end of Feb 2024. Depending on your taxable income you may or may not owe additional taxes. You get credit for the withheld taxes.
I did a quick example, let’s say your income was 30,000 and all the taxes had been paid up. Your income would now be 60,000 and you would get a refund of 1580. If your income was 60,000 before the RSP income you would owe 186
So the withholding tax kind-a protects you from owing a large amount next tax time.
The next thing to consider, is sometimes people want to have a certain amount of money , so let’s say you want 30,000 to be deposited into your account. The RSP issuer would have to redeem 30,000/(1-.3) = 42857.14 , net (42857.14 * 30% = 12857.14 in taxes, ( 42857.14-12857.14) = 29999.998 =30,000 deposit.
In this case, let’s say the income is 60,000, this brings taxable income to 102857 and amount of tax owing = 1014
If your income was 30,000 pre rsp, then your refund = 1475
Hope that helps you in your decision making process.
We provide a family office service at my firm, so we can give guidance on all these matters. Perhaps we can be of service for your future tax and investment needs.
****
"Thank you so much Tim.
Your explanation is excellent. It really helped me better understand the calculations behind RSP withdrawals & the taxes that are withheld.
Really appreciate that our friend sent me in the right direction.
Thank you for offering your services. Will certainly keep that in mind.
Sincere gratitude & appreciation"
***
FYI
RSRP withdrawals up to 5000, the withholding tax is 10% = 500 on 5000, so you net 4500 ( 20% in Quebec)
Between 5001 to 15,000, the withholding tax is 20% son let's say a 10,000 request woudl be 2000 deducted, yo net 8000 ( 25% in Quebec)
If you wanted 10,000 deposited in yoru account 10,000 / (1-.2) = 12500 total reemption required ( 12500 * 20%=2500, net 12500-2500=10,000
With smaller amounts , depending on your income , you are m,ore likely to owe taxes due to teh marginal tax calculations, expecially if you have a mid to larger income. If your income is lower, not so much.
Hope that FAQ is helpful. If you have a question, please email me at advisor@timothyross.com and will see if we can do up a good FAQ article for you.
Have a blessed day !
Timothy Ross, Family Advisor ©, CEO & Founder,
Brock Shores Financial, Family Office providing Omega Stewardship ©
Mutual Funds offered through PEAK Investment Services Inc. Life & Travel, Insurance, Seg Funds & Banking offered through Financial Horizons Group. Tax Services offered through Timothy Ross & Associates & Brock Shores Income Tax Corp; Planning Services offered through Brock Shores Planning Corp.
This transmission is intended solely for the individual or entity to whom it is addressed and is confidential in nature. Please be advised that any distribution, reproduction or other use of this document by anyone other than the addressee is strictly prohibited. If you have received this communication in error, please notify us immediately. Thank you for your assistance. Please feel free to share our contact info below with those who may benefit from our services. All rights reserved.
PS: We welcome your Google Review, please click on this link https://g.page/r/CXYJPvedYlz0EBI/review
Be sure and register to keep track of your credit bureau, we use Borrowell for this free service, click through at https://improvingfutures.ning.com/blog/free-credit-check-borrowell
"The beauty of being in business is that your business engages all aspects of your mind, I think that is why you become successful, business challenges you to be more than you are, and that is where the miracle takes place." Timothy Ross, May 2004
I like Winston Churchill, he had the incredible ability to move the English language into action. My mentor Jim Rohn, say's , "Don't be afraid to borrow if someone else has said it well. Winston Churchill said, "The truth is incontrovertible. Malice may attack it and ignorance may deride it, but in the end, there it is." That's so well said. You could stay up all night and not think of that. " ~ Timothy Ross
"Everyone wants to live longer but no one wants to grow old"
Larry Lewis (1867-1974) - Find a Grave Memorial
https://www.findagrave.com/memorial/162125436/larry-lewis
I spoke of running to play golf earlier my good friend the well-known golfing writer Gary wiring tells the man in San
A little review of the sauna options.
I must have googled the word,Facebook has flooded me with ads
https://bsaunas.com/outdoor-prefab-sauna-cabin-for-sale/
It's been awhile since we have explored Marble Rock, so long that I thought it was Crystal Rock. There is lots of white crystals on that trail, thus the name sake Marble Rock.
Here is a few links to those trails
https://www.alltrails.com/parks/canada/ontario/marble-rock-conservation-area
https://cataraquiconservation.ca/pages/marble-rock
https://ontariohiking.com/marble-rock-conservation-area/
This is an interesting read and some great pics.
Next time we explore there will add some comments to this post.
#BeTheAdventure
Blueberries are spherical or semispherical or semispherical, tiny, soft, and sweet blue fruits ranging from 0.7 to 1.5 cm in diameter.
These fruits can be consumed without peeling or cutting and contain glucose and fructose. Blueberries were popularized as a “super fruit” due mainly to their high antioxidant activity and abundant bioactive compounds.
Despite the benefits of blueberries, they are seasonal fruit.
Lowbush blueberries are typically grown for processed blueberries used in baked goods, yogurts, and fresh and processed organic fruit.
Highbush blueberry fruit is used fresh and frozen for use in processed foods.
In countries that are large blueberry producers, blueberries not intended for fresh consumption are most often frozen in fluidized tunnel freezers. In the world markets, fresh blueberries are sold in retail packages, and frozen blueberries are sold in bulk packages.
The latter, as half-products, are used for processing, that is, for making jams, conserves, or juices. Fruit collected by machine is sorted and stored, and most of it is later sold for industrial processing. The advantage of such a procedure is the effective use of almost the entire crop. Even unripe and defective fruit can be processed.
Healthy but damaged fruit is processed as an ingredient for yogurts or ice creams, whereas unripe fruit is treated as a source of selected biologically active compounds.
Generally, blueberries in a fresh form consist of water, carbohydrates, proteins, and fat. Blueberries are a good source of dietary fiber that constitutes 3% – 3.5% of fruit weight, which may be varied depending on the horticultural practices.
Besides the taste, the main interest in this fruit is due to the moderate vitamin C content and other vitamins like vitamins A, D, and E. One hundred grams of blueberries provide, on average, 10 mg of ascorbic acid, which is equal to 1/3 of the daily recommended intake.
Moreover, blueberries have bioactive compounds such as flavonoids (especially anthocyanins), tannins, and phenolic acids, as well as various beneficial health properties attributed to blueberries.
*The active compounds may be varied depending on the horticultural practices of the plantation.
#crop #crops #botany #agriculture #agricultureandfarming #farm #farming #horticulture #plant #plants #plantfact #plantfacts #blueberry #berry #berries #anthocyanin #nutrition #nutritionalfact #vitamin #fiber #minerals #health
Wow, gleaned from AgTech FoodTech Group on LinkedIn, by Chang Hong Eyu
