To provide our clients' overall long-term financial success with the personal attention, proper planning, and ongoing counsel of our qualified and dedicated team. Preserving and protecting our clients personal net worth remains our primary objective.
Spring 2009 Commentary: Comfort During Market Volatility
Spring, 2009 - It has been a long time since we have had good news to analyze in this newsletter. However, many markets have rallied in excess of 10% recently, oil and copper prices have set solid foundations, the big U.S. banks are waving the profitability flag, and even the American consumer resurfaced in February....
On June 18, 2008 Bill C-50 which includes the 2008 federal budget measures received Royal Assent. The significant income tax provisions in this legislation include the following:
1) The Tax-Free Savings Account (TFSA) which allows investors to contribute up to $5,000 / year beginning in 2009 to a registered account which provides tax-free accumulation and withdrawal;
2) The extension of time limits and age limits for RESPs;
3) The reduction in the dividend gross-up and tax credit for eligible dividends, effective in 2010 to 2012; and
4) The extension of the elimination of capital gains for donations in respect of certain exchangeable securities.
Update on the Tax Free Savings Accounts
Work is underway to offer tax free savings accounts at BMO Nesbitt Burns and we will keep you apprised of our progress. They will be available starting January, 2009. For more information on the Tax Free Savings Accounts, visit the Canadian Revenue Agency.
All market data is delayed by at least 20 minutes unless otherwise noted. Quotes, historical data, charts and statistics are provided by SunGard PowerData. BMO Nesbitt Burns is not responsible for the information provided.
** Mutual fund prices are as per previous day's close. Unlike stock prices they are not updated throughout the day.
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