March's Financial Tip One important factor is that the Ontario government can't seem to manage it's own finances, with the statement by Huffington Post, claiming Ontario as the most indebted sub-sovereign borrower in the world. Therefore, I think its important to always focus on what you can manage, what you can control.
: Interested in the Ontario budget? Concerned about the state of the provinces finances? Learn more about the
2016 Ontario Budget
- No changes to personal or corporate income tax rates.
- OSAP is changing. Post-secondary education assistance will change. OSG ( Ontario Service Grant) begins in 2017-18 school year. Substantial assistance for university and college will be avaiable for families with income less than $50K. OSAP debt level to be capped at $10K for high income families.
- Increase in tobacco, alcohol and gas taxes making it more expensive for travel and our vices.
So, how does that affect you? Well, if the governments stimulus strategies don't work, then it's possible in time our taxes will increase and our healthcare services will decrease. At least, those that are covered by Provincial healthcare. Therefore, managing your Debt & Cash flow is critical.
Many of you work hard for your money, and you know how to save. Sometimes, it feels like we don' t have enough to show for it. Sometimes, we know money gets spent on things that are not important, or we're not prepared for the inevitable emergency. If this is you, just ask for our "Cashflow spreadsheet". With a little help, we can ensure your cashflow focuses on your spending priorities, and improves your ability to reach those goals that are truly important.
To learn more about managing your healthcare expenses later in life, see our Monthly Minute in April.
Travelling for March Break?
If you need Travel Insurance, we now offer a quick and easy solution. Just go to this link on our website and sign up right away.
. Any questions, please give us a call to help.
Life Insurance: Do we really need it?
I personally know 3 people who lost their life insurance coverage because they purchased insurance through their mortgage and something changed, a new heart condition, diagnosed with diabetes, it could be anything. When they went to renew the mortgage, they lost the insurance. Determine if you need it, and then ensure you have the coverage. Set it up right the first time.
As of the end of February, the TSX is the top performing index in the world. Hard to believe after the last 15 months that we've seen the decline of the Canadian dollar and the decline of the index by up to 24%. To help you better understand the markets beyond the headlines, here are some commentaries and articles that we found helpful:
Where Do We Go From Here?: Evolution, Private Client, and Portfolio Select Series clients, listen to better understand how we can manage the markets for 2016. Learn about what's expected for your portfolio.
Prefer to read some details about shifts to the portfolio:
For more recent podcasts from your favourite managers, please see janinepurves.com.
Tax Time is Upon Us:
- RRSP receipts are now mailed. Please ensure you have all receipts before completing your tax return.
- Have a "Non-Registered, Cash Account" then ensure you have all receipts before completing your tax return. Most T3's and T5's are issued by Feb. 28th, but certain products have until March 31s to issue these receipts.
Need an accountant: I am happy to provide a recommendation. I work with many, and can find a good fit for your needs. Just call the office to discuss your priorities.
ONLINE STATEMENTS & RECEIPTS NOW AVAILABLE: Have you set yourself up on Assante InvestorOnline? It's time, as we now have online statements and the ability to print your own receipts and more.
You can even elect to receive electronic copies only, and save some paper. To get set up, or learn more, go to
, and click on Client Statements. There's even a tax receipt schedule to help you identify when you will receive them.
Business Achievement Awards: Come celebrate Business Excellence in Richmond Hill!
As a proud member of the Richmond Hill Chamber of Commerce, it has been one of my best resources for Professional businesses to which I can refer my clients.
This year, I'm excited to announce that the Richmond Hill branch of Assante Capital Management Ltd. is a finalist for the Business Achievement Awards.
Please consider joining me at this exciting event on March 8th, starting at 6:00pm. For more information and to purchase your tickets, go t
Chairman's Council: I'm pleased to announce that I've been awarded the Chairman's Council, an acknowledgement of business growth and service achievements over the past year.
Thank you for your referrals. We really appreciate you passing along our name. If you know somebody who needs a 2nd opinion on their portfolio, or who really needs to focus on planning for the future and setting some objectives, that's what I specialize in. Ensuring you have the retirement income you need and paying the least amount of tax along the way is how I help you to meet your personal financial objectives.
Thanks to you for helping us achieve a level of service and standard at our branch that is allowing us to help each of you to meet your goals, and better prepare your family for the future.
Janine Purves, CFP, CPCA, CCS**
** Ask about my new designation.
Please feel free to pass these e-mails on to contacts, friends & family who may find them helpful.
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 is registered with 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.
Dates to Remember
March 15: 1st Personal Tax installment date.
Good Friday (Office Closed)
Personal Tax Deadline
Senior Financial Advisor
Assante Capital Management Ltd.
Ph (905) 707-5220
Fax (905) 707-1035
9130 Leslie St., Ste. 302
ON L4B 0B9
Visit our website at www.janinepurves.com