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July 26, 2016

The Tax Grind

Estimated reading time: 55 seconds

The Brexit vote just weeks ago rattled global markets.

Equity markets were shaken, nervous investors headed for the exits, respected currencies got clobbered, and former Prime Minister David Cameron of unwanted Panama Papers fame gave up his digs on Downing Street.

Do you remember what happened in 2008? Markets crashed around the world, financial giants like Bear Stearns and Lehman Brothers went out of business, while many of their peers came within a whisker of vanishing.  Fortunes were lost.

Déjà vu all over again? What about right now - are we out of the woods yet?

Many experts predict more volatility.

Successful Canadians need to know there are many smart, legal and home-grown Canadian ways to use life insurance to preserve wealth and protect it from too much taxation.

On the issues of safety and security, you should know that no holder of a life insurance policy issued by a Canadian life insurance company has ever lost their benefits.

My newest TaxLetter® article, “The Tax Grind”, explains how income taxes impair investment portfolios, and how those taxes often leave investors with LESS  money than they started with.  It describes how taxpayers pay the equivalent of insurance premiums in income taxes while obtaining no benefit for their family or estates, and suggests a strategy for individuals and corporations to achieve much higher, guaranteed returns using tax-exempt permanent life insurance. Read it here.

Time is running out for tax-exempt insurance –new tax rule changes  take effect in January 2017, but the deadline for action is now less than 65 days away.

Last month I was a guest speaker for a community outreach event at the Toronto Reference Library.  Presented by The Canadian Association of Gift Planners GTA Chapter, Leave a Legacy® is a national program that encourages individuals to leave a legacy to favourite charities.

I discussed the importance of financial planning and explained charitable giving strategies using tax dollars that would otherwise be sent to Ottawa.  It was great to see the event was so well attended by charitably inclined people who are passionate about leaving more to favourite charities and less to tax department.

Life insurance could be a do-it-all tool for the wealthy, said The Globe and Mail, when they interviewed me for this article that explains why wealthy people buy life insurance and how they use it.

The Bottom Line, Canada’s magazine for accounting and financial professionals published an interview with me about the recent Federal Budget. Despite the harsh treatment of charities and taxpayers, several defensive strategies are still available to reduce the impact of higher taxation. Read ‘Estate planners singing the federal budget blues”

Wealth Professional magazine named me to their 2016 Hot List of 50 men and women whose headline-making moves are transforming the wealth management industry. (see page 32)

To sum up, many planning opportunities are available right now, and the time to do it is while the sun is shining.

Contact us today and we can show you how to keep more for your family and favourite charities and less for the tax department.

Our team of advisors across Canada is available to answer questions and help preserve what you have worked for.

Please be in touch if we can help you.

Call me toll-free at 1-866-566-2001 or send an email to

I look forward to helping you and your family

Enjoy the summer and stay healthy

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