May 2019


"The best way to find yourself is to lose yourself in the service of others".
 Mahatma Gandhi

 I started with this quote, as I've found that often doing things for others is far more satisfying than doing things for ourselves.  When I think back of those things that I have done that seemed to have the largest impact, it was usually when I was supporting those I love, helping various causes or those less fortunate, or giving back to the community to help us all have a better tomorrow.  It was not always planned.  There was just a need, and somebody had to help.  So I did.  Just like many of you.  

In April, I was privileged to join a panel of speakers at the Canadian Association of Gift Planners conference in Montreal to share ideas about creating partnerships to support philanthropy, and provide support so families can create the legacy they want in terms of charity.  It was truly a pleasure to meet hundreds of people who make this their everyday life: helping support the many charities across Canada; helping so many Canadians philanthropic dreams come alive.  

So, this month, I want to send a special shout out to all of you who give back, both in small ways and big. These charitable acts, whether it be through kindness, donation, time assisting others, all help to make our community better than it was yesterday.  Thanks for all you do.

The most rewarding way to support your community is to give your time, your resources, and the most rewarding way to save tax is to donate to a charity you care about.  I send a special thank you to all of you who take 1 extra step to support a charity, to help provide research for a disease, to help others find a leg up.  Thanks for each of you taking that small step that can provide a big leap for others.  

Here are a few ideas of how you can make an impact.


Charitable and Philanthropic Planning Options with Janine Purves 
Charitable and Philanthropic Plannng Options with Janine Purves


Janine on the panel of Partnerships to Support Charitable Giving at the National Conference, Canadian Association of Gift Planners, Montreal Canada. 


Financial Tip of The Month.
 
Donating Stocks, or Mutual funds directly to a charity, provide a generous tax credit, but also allow you to waive the gains on the investment.  This win-win can ensure you keep your precious cashflow, charities get the support they need, and CRA gets less tax.  (OK CRA doesn't win, but the rest of us do!)

Want to discuss more ideas, just reach out.

My next effort to give back is donating to The Heart and Stroke Foundation and participating in Richmond Hill Big Bike Event. If you are interested in participating or cheering us on or donating here is the link for more details
 

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Tax Season is Done!  Frustrated because you feel like you paid too much?
Most missed Tax savings opportunity
I've recently been asked to write an article each month for York Region Media Group.  We will share the links as they are released. 

If you have any financial questions, please share them with us so we can write specific articles to address your questions.   
 
Set things up now for a more tax effective 2019!  

What are the tax changes in the Ontario Budget



Health and Wellness

The premiums in a Health and Dental plan may be eligible for a tax benefit. Health Plans premiums  can be deducted as a healthcare expense.  Therefore, in many cases, seniors can deduct these, and when added additional healthcare costs, they can generate a larger tax savings.  
Make sure to keep a summary of the premiums paid, benefit claims and health expenses paid to receive the full tax credit.  
Travel Plans & Travel Health Insurance
CHECK YOUR PLAN BEFORE TRAVELLING. With many changes to Provincial healthcare of late, please ensure that your travel insurance coverage is what you expect. Most travel plans provide benefits in addition to the provincial plan.  This means when the provincial plan cuts coverage in one area, that travel package may no longer cover it, or it may not provide the same benefit it once did.  It's important to read the fine print and double check this before your next trip and you end up footing the bill! 

Health Spending Account .  This type of plan provides a flexible amount that is allocated to an account for you (and your staff) that allows you to spend it on healthcare.  This plan can be very effective for keeping costs down, and helps to provide a customized approach to those that have specific or unique needs.  For example, if somebody has a special needs child and incurs substantial therapy costs, then using a Health Spending account is 1 way of allocating additional funds to a targeted area.  

Is it time to ensure you have the proper protection for your family?  This is a great solution for the Self-employed.  Let's find your best solution.   


Health and Wellness- Special Offer From MedCan
Trustee Fee Reminder:  Please note that Trustee fees for RRSP, LRSP, RRIF, LIF will be charged June 6th.


Markets

See what Portfolio Managers are doing to protect downside risk and seizing opportunities.



Cash on the Sidelines? 
Check out Manulife for a Great Interest Rate.
 
 
Manulife Bank is offering  a promotional annual interest rate of 3.25 % on Advantage Accounts.  Want an easy way to save?  Set up your own online account.   Click Here or contact me

  • Applies to a new personal, non-registered, Canadian-dollar Advantage Account opened before July 15
  • Earns 
    3.25% interest for a full six months  from the day the new account is opened
  • Net new deposits up to a maximum of $500,000 qualify for the offer   
 
This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see me for individual financial advice based on your personal circumstances. The opinions expressed are those of the author and not necessarily those of Assante Capital Management Ltd.
Insurance products and services are provided through Assante Estate and Insurance Services Inc. Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.
Assante is an indirect, wholly-owned subsidiary of CI Financial Corp. ("CI"). The principal business of CI is the management, marketing, distribution and administration of mutual funds, segregated funds and other fee-earning investment products for Canadian investors through its wholly-owned subsidiary CI Investments Inc. If you invest in CI products, CI will, through its ownership of subsidiaries, earn ongoing asset management fees in accordance with applicable prospectus or other offering documents.
  Services and products may be provided by an Assante Advisor or through affiliated or non-affiliated third parties .
  
Janine Purves
CFP®, CPCA, CCS
Senior Financial Advisor
Assante Capital Management Ltd.
   
Ph (905) 707-5220
Fax (905) 707-1035
 
9130 Leslie St., Ste. 302 
Richmond Hill,
ON L4B 0B9
 
Visit our website at www.janinepurves.com