2025 October Newsletter

As the year comes to a close, it’s a good time to review your finances and consider how charitable giving can benefit both your family and the causes you care about. Eligible donations can earn valuable tax credits and, in some cases, eliminate capital gains tax when donating securities directly. For clients with more complex needs, advanced strategies like incorporation, prescribed rate loans, and family trusts may also be considered. 

Here are what you may consider before year-end:

• Charitable Donations: The tax benefits of eligible charitable donations are available to all Canadians and you may earn tax credits which can lower the amount of tax you owe. As well as a tax credit, donating investments directly can potentially eliminate the capital gains tax on eligible securities. Eligible investments include those trading on designated stock exchanges, segregated funds, mutual funds, and government bonds.
• Other Advanced Strategies (for high-net-worth clients): Incorporation, prescribed rate loans, and family trusts may also be used to help reduce overall tax exposure, but these require specialized planning and advice.
   

While donating cash is common, contributing appreciated securities — such as publicly traded stocks or mutual funds — can be far more tax-efficient.  Check out MoneyTalk for more details: https://www.moneytalkgo.com/how-donating-securities-can-be-more-tax-efficient-than-cash/.

Important reminder

Keep all donation receipts and make charitable donations before December 31 to qualify for this year’s tax credit, as receipts can be claimed for up to five years if not used in the current year.

Event Highlights: Estate Planning Luncheon

On September 25, we hosted an Estate Planning Luncheon at the St. Albert 50+ Club with nearly 100 attendees. Our guest speakers, Christine Maloney and Chenel Kimber from Weary & Company, and Sharene A. Gaitor from TD Wealth Private Trust, shared valuable insights on how to protect your legacy and prepare for the future.

The session covered the core documents of estate planning — Wills, Powers of Attorney, and Personal Directives — as well as the importance of reviewing your plan regularly and understanding the probate process in Alberta. Speakers also highlighted how communication within families can play a key role in ensuring your wishes are carried out and wealth transfers successfully to the next generation.

Estate planning can be complex, but with the right guidance, it can bring confidence and security to you and your loved ones.  Click here to read the full event highlights and learn more about estate planning.

Useful Tips: How to Check Your Tax Documents

• Step 1: Log in to WebBroker and Go to "Documents (eServices)" under Accounts.
• Step 2: Click the third tab at top labeled "Tax Documents", select "Account Group" and "Tax Year", then click "Search"

Please visit my website for more details or contact us to review your tax planning today.