November 2022

Inflation gives a boost to 2023 TFSA contribution limit

As a small consolation to the sky-high cost of living, the federal government is boosting the 2023 tax-free savings account (TFSA) contribution limit by an additional $500. That means the total amount anyone over 18 years old can contribute to their TFSA will be expanded to $6,500, starting January 1, 2023.

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Tax strategies for snowbirds

In this episode of ‘Conversations on Wealth’, host Sarah Widmeyer speaks with Sean Hsu, Senior Tax Specialist at Richardson Wealth about Canadian snowbirds and their U.S. tax obligations. Sean shares that if you spend extended periods of time living in the United States, it’s important to keep track of your days there. 

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Enhancing our technology capabilities  

Richardson wealth’s next step in technology: transitioning to Fidelity Clearing Canada’s uniFide™ platform 

Last year, we sent out a letter to you announcing an exciting strategic agreement with Fidelity Clearing Canada ULC (Fidelity). Simply put, what this means is that Richardson Wealth will use Fidelity’s best-in-class technology platform, uniFide™, to enhance our processes and systems. Fidelity will also become our carrying broker, providing custody, clearing and trade settlement services. 

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U.S. estate tax for the non-U.S. citizen

This article provides an overview of the U.S. federal estate tax and focuses on its potential application to Canadians who are not U.S. citizens and are not domiciled in the U.S. but hold U.S. situs assets.

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Making a gift to charity doesn’t mean disinheriting your family

There is a belief that making a significant gift to charity means disinheriting your family and friends, sometimes referred to as “zero-sum estate planning.” But nothing could be further from the truth.

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The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Richardson Wealth Limited or its affiliates. Assumptions, opinions and estimates constitute the author’s judgment as of the date of this material and are subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Past performance is not indicative of future results. Insurance services are offered through Richardson Wealth Insurance Services Limited in BC, AB, SK, MB, NWT, ON, QC, NB, NS, PEI and NL. Richardson Wealth is a trademark of James Richardson & Sons Limited, used under license.