February 2016

Reminder: RRSP Deadline for 2015 is Monday February 29th, 2016.


Have you made your RRSP contribution?  Call us to ensure you make the right amount for your situation and income.  We can help.


Quick Tip:  Missing Contributions!  The Biggest Mistake I've Seen with RRSP Contributions!

RRSP Season is upon us!  Do you have contribution room?  Have you made contributions that haven't been counted on your tax return?  The most common mistake I've seen is mis-reading your RRSP notice received from CRA. 


We all receive our Notice of Assessment, and it sums up our income and taxes paid.  You quickly scroll through it and ignore the RRSP Deduction Limit Statement which is usually the at the bottom of Page 2 of this assessment notice. 

There are 2 critical lines on this notice, and it's important to ensure they are recorded correctly.

First, the last line of the "RRSP calculation" chart, that is called "RRSP Deduction Limit for 2015".  This indicates the accumulated RRSP contribution room you now have available and can contribute for the 2015 RRSP tax year.  It has an *A on the far left side to help indicate it's priority.


However just below there is a sentence that often goes unnoticed, and yet it's also critical.  "You Have $......... of Unused RRSP Contribution Room available".  If this figure is anything above 0, this means that you have made a contribution that has not been credited, or couldn't be deducted.  Usually it's because you have over-contributed, or didn't report it properly.  This means it needs to be corrected, or you need to ensure you generate more RRSP room to be able to get your tax deductions.  We are all able to over-contribute by $2,000, but beyond that, there may be tax implications.  So, please check these statements.  Also, as soon as you get it, send it to your Financial Advisor, then we can help assess your situation and ensure it's corrected for next time.



RRSP Contribution Limits: 2014 Limit: $24,930
2015 RRSP Limit: $25,370, or 18% of prior year's income.


If you would like to schedule a meeting with Janine regarding RRSPs, Financial Planning, Insurance and Retirement, please give us a call and we will gladly accommodate.


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Tax Help Needed?


Check out our tax organizers to keep you on track.


2016 Personal Tax Calendar

2015 Personal Income Tax Organizer


If you need an accountant, give me a call, I can refer accountants to you, as we hear what works from all our clients.  Happy to help!


If you do your own taxes, you can use the TurboTax program available through our website link here to save 20% on TurboTax.


Top things families should know about taxes:


There are many opportunities to benefits, credits and deductions available to reduce the tax owing at year end. Some options to consider are Working Income tax benefit, Family Tax cut and many more. For more information  click here.

Janine & Assante in the News:


Reader's Choice Awards:  I'm thrilled to be nominated for the Reader's Choice Awards for Best Financial Advisor in Richmond Hill. Thanks to those that have voted so far.  The contest closes Feb. 5th, and if you'd like to support your favourite local companies, here's the link.  (To vote for me, Please go to Page 3, # 87).  For those that take the time to vote for multiple businesses, a $250 gift certificate is available.




Readers Choice Awards  

Charitable Giving:  Giving Back makes such a Difference!

I wanted to share this link with Rick Mercer, inviting us all to participate in the High Notes Gala in support of Mental Health on April 28th,  at my favourite place, The Richmond Hill Centre for the Performing Arts.  For more information, or to purchase tickets, go to HighNotesAvante.ca


Wealth Matters 
Join us on Wednesday, February 10th at 2 p.m. EST for the first quarter webcast of Wealth Matters for 2016.
This session will provide an insightful discussion on vacation property planning, led by Chris Thomson, Regional Vice-President, Wealth Planning, Assante Private Client. Join Chris as he discusses acquisition and transfer strategies of property.
Following our wealth planning discussion, we will be joined by Chip McKinley, Senior Vice President & Portfolio Manager, Cohen & Steers. Chip will provide his outlook on the global real estate market and discuss how the team is positioned to take advantage of market opportunities while managing risk.
How to access the webcast 
Access to the webcast is available in The Wealth Matters section of Assante.com: http://www.assante.com/firm/news/wealth_matters.jsp

In fact, here's a reminder and article noting CRA's easy way of reporting your foreign property between $100,000 & $250,000.

Is it time to review your insurance?  This year alone, we've saved clients thousands of dollars, by reviewing their coverage and providing guidance on how to cancel, or change policies to better reflect your current needs.  

Often after 5 years, or a significant life change, your insurance needs may change, Let us provide a complimentary review to see how we can help.  
Life , Critical Illness , Disability, Long-term Care, Group Benefits and Travel Insurance.
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.Travel Insurance.   
Date: March 8th, 2016 
Time: 6:00pm to 9:30pm
Location: Sheraton Parkway Toronto North Hotel,
9005 Leslie Street, Richmond Hill, Ontario L4B 1B2 
A great evening highlighting outstanding businesses in Richmond Hill.  If you need to make contacts, generate more business, and get started on a more successful business year, then attend this event. Click Here

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Nothing in life is to be feared, it is only to be understood.
Now is the time to understand more, so that we may fear less.
- Marie Curie

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.

Janine Purves,


Senior Financial Advisor

Assante Capital Management Ltd.


Ph (905) 707-5220

Fax (905) 707-1035



9130 Leslie St.,

Suite 302

Richmond Hill,

ON L4B 0B9


Visit our website at www.janinepurves.com