December 2022

Welcome to the December edition of our monthly newsletter. As you are no doubt busy preparing for the holiday season, we are busy ensuring that all considerations surrounding the end of another tax year are handled on your behalf. We would like to take this opportunity to point out a couple of housekeeping matters:

Holiday office hours

December 28th is the last trading day in Canada and the US for equity market transactions to settle in 2022. Canadian and US markets will be closed on December 26th and January 2nd. In addition, Canadian markets are closed on December 27th (in lieu of Boxing Day).

The JSK Partners office will be closed from 11 am on December 23rd through to January 3rd. We will have staff available for contact by phone or email during this time, should you have an urgent matter.
 

 
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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2022 year-end tax planning checklist 

Effective wealth planning takes place throughout the year. However, you can take some key steps before the end of the year and early in the new year from a tax planning perspective that can make a positive impact on your overall finances.

While the following list is not exhaustive, here are some time-sensitive items to look at now for your 2022 tax return as well as proactive items for 2023.

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Capital Dividend Account 

One of the best kept secrets: The Capital Dividend Account

Donating securities can be a great way to save tax, but for clients who hold publicly-traded securities within an investment holding company there can be an even greater opportunity for making tax efficient charitable donations.

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A plow horse with shin splints —
First Trust

Our position on the economy has been that the US is headed for a recession, but we’re not quite there yet. Nothing in all the recent data reports changes our minds. Look for a recession to start in the second half of 2023, with some possibility of it starting earlier in 2023 and some possibility of a delay until early 2024. Until then, expect mediocre economic growth.

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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.