Insight Newsletter

INSIGHT is a quarterly newsletter that explains tax and financial matters in simple terms. It communicates new developments in the business and financial world and assists you in managing your financial affairs better.

Click here for a list of Insight articles from past issues that contain comprehensive financial and tax planning information on a variety of topics.

In This Issue:
Income Sprinkling
Tax Season 2018

The month of September is synonymous with “back to school” and March is synonymous with “back to your accountant”. We will start “tax season” on Monday, March 12th.

For our entrepreneur clients, it may be important to read the long, and complicated, article inside. In December, the Liberal government shot an arrow deep into tax planning structures previously in place, with no “grandfathering” clause and only with the tax year 2017 to adjust strategy…. very little time from late December! And the Federal 2018 Budget promises a second attack on entrepreneurs.

Every tax planning professional will be busy attending courses on this new law, and the leading tax minds in the country will be working overtime to fathom the depth and breadth of the implications, and where strategy will go forward in response. Suffice to say…many will be affected in 2018 and beyond. Through February, we reviewed all of our corporate files to identify clients who needed to contemplate proactive strategy.    

We are proud to continue contributing charitable donations to Foundations at McGill and UBC which celebrate the accomplishments of our clients Martha Foschi, the late David Barrett and the late Thomas Routledge. In addition, this year we have become a sponsor at the Kay Meek Centre for Performing Arts and the Tyee Ski Club at Grouse Mountain.

Free seminar for clients and guests

Saturday, April 7th 1:30 –4:30

We will be presenting a seminar entitled “Wealth Management by Design: 2018” at a location in West Vancouver. This is the fifth course in our series addressing a healthy and successful approach to the custodianship of money across Family generations.

Call or email us by March 30th to reserve a seat and receive more details.


We commence tax season this year on March 12th. Remember that the critical filing deadlines are April 2nd for trust returns, April 17th for US returns and April 30th for Canadian returns. We will be requesting an interim payment of $75 per return, which will be credited on your final bill in early May. This checklist will help you get organized to have your returns done accurately and economically.


  • All copies of your slips: don’t separate the duplicate copies
  • All medical and donation receipts, including travel medical premiums
  • Medical receipts which relate to discretionary appearance enhancements are not deductible
  • The backing sheet which came with the T5s from your broker
  • The purchase cost information of any stocks or bonds sold outside your RRSP/RRIF/TSFA
  • Annual mutual fund statements for funds held outside your RRSP/RRIF/TSFA
  • Trading summary and/or brokerage statements for the entire year for non-registered accounts
  • List of any foreign assets which may require reporting under the Foreign Asset verification rules, or include the Summary Report from your broker


  • Watch for T3 slips from trust units/mutual funds which may arrive throughout March and April
  • Make your March 15 tax installment
  • Doing a draft return usually doesn’t help us and takes extra time to reconcile
  • File for reimbursement of medical costs under Pharmacare or your extended health plan
  • Attendant care costs require a valid disability claim accepted by CRA
  • If you are a Trivest client, we are able to download directly all of your brokerage slips
  • If you are a Trivest client, we already have your Foreign Asset reporting information

We remind you that we accept electronic payment via Interac E-Transfer. Also, we will be asking many of you to sign on to our secure Portal site technology to facilitate secure document and data transfers between us.


The RRSP room for 2018 will be $26,230, requiring 2017 earned income of  at least $145,722. The 2019 limit is already announced – $26,500 on a 2018 earned income of $147,222. Your new TFSA room for 2018 is $5,500. Start thinking about whether you wish to defer your 2018 property taxes this year.