Super leggera sounds like it qualifies.
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Inflation
- Thread starter nobbie48
- Start date
Not over 65 I will look into adding her to the holdco then it could pay her dividends .
Sent from the future
AllistonGT
Well-known member
Sure, but only look at it. Riding removes value. Has to be seen as an investment.
AllistonGT
Well-known member
Mine was set up that way from the start for just this reason.
Mine wasn't as I had to be 100 percent owner to transfer assets from my other company tax free.
Sent from the future
I have the kids in the trust too. Holdco if needed will be under trust. Also allows me to use their small business cap gain exemption.
The Dividend Tax Credit can only be claimed on Eligible Dividends from a CCPC (Canadian-Controlled Private Corporation) that has paid a high rate of tax into a GRIP (General Rate Income Pool).
Either the corp pays the tax, or the shareholder pays the tax. No end run to be had here.
That's not what I meant.
I mean that you cannot have your corp issue dividends eligible for the Dividend Tax Credit if it is not already paying the high rate of tax into a GRIP. I assume we're still talking about the $50K tax-free dividend income?
I get that but 30 is way better than 55. If I could just give her 1m it would be easy to buy some dividend stocks but I don't see a way to do that.
Sent from the future
Sounds like you need an advisor
AllistonGT
Well-known member
Thinking I need more info on this as well.
And you are going to convince a 16 year old ??'
25 years ago
The national median income was The national median income for Canada was $18 891.
House prices were 150k and rent circa $800 for a 2 bedroom.....strangley enough 25% of income.
$3k a month in pension for a couple was "okay"
....we still get by on that as few expenses and watch our dollars and have some travel and rainy day reserves.
You can still buy a 3 bedroom villa here for $320k and wages far better than Canada.
Very difficult if not impossible for many that thought they were okay.
then it went stupid....glad I'm gone.
25 years ago
The national median income was The national median income for Canada was $18 891.
House prices were 150k and rent circa $800 for a 2 bedroom.....strangley enough 25% of income.
$3k a month in pension for a couple was "okay"
....we still get by on that as few expenses and watch our dollars and have some travel and rainy day reserves.
You can still buy a 3 bedroom villa here for $320k and wages far better than Canada.
Very difficult if not impossible for many that thought they were okay.
then it went stupid....glad I'm gone.
Best short term money that can be spent is a meeting with a tax specialist chartered accountant. Most large accounting companies have a “guy” or 12 that are tax avoidance specialists.
As almost everyone has a bit different scenario , it’s worth professional advice.
Sent from my iPhone using GTAMotorcycle.com
As almost everyone has a bit different scenario , it’s worth professional advice.
Sent from my iPhone using GTAMotorcycle.com
Assuming you have enough economic footprint to justify it. ....most don't.
Australia does have some free advice as supers get pretty valuable but they cannot offer investing advice.
My guess is we have a guaranteed income on the way in certain nations.
www.economist.com
www.economist.com
www.economist.com
www.bbc.com
Australia does have some free advice as supers get pretty valuable but they cannot offer investing advice.
My guess is we have a guaranteed income on the way in certain nations.
America’s experiments with guaranteed-income schemes show promise
Could the pilot programmes be scaled up?
Might the pandemic pave the way for a universal basic income?
A true UBI seems far off. But more experimentation is likely
A Californian experiment in the provision of guaranteed income returns its first results
It turns out that people like receiving free money
Canada’s forgotten universal basic income experiment
Amid wide unemployment during Covid-19, basic income schemes have gained fresh relevance. A successful Canadian scheme that's over four decades old could provide a road map for others.
www.bbc.com
Guaranteed income , utopia , what a delightful way to allow the disenfranchised to spend even more of their lives off the grid .
The problem with socialism is eventually you’ll run out of other peoples money .
Sent from my iPhone using GTAMotorcycle.com
The problem with socialism is eventually you’ll run out of other peoples money .
Sent from my iPhone using GTAMotorcycle.com
Knee jerk reply. .the Nordic countries do better for their citizens - staying high on the GINI list while competitive in business.
Let me guess - you have not read the links?
"Other people's money".....you do understand what the "soci" in society stands for.
.the Nordic countries do better for their citizens - staying high on the GINI list while competitive in business.Let me guess - you have not read the links?
"Other people's money".....you do understand what the "soci" in society stands for.
Guaranteed living wage is by definition a failure. Poverty is determined by your income relative to others. Whatever guaranteed income was set at, that would the new floor and all prices would rise to adapt. GI could be 100K and those on it still couldn't afford a place to live as everyone would have 100K and rents would go to the moon. I don't have a great alternative but know that in no world can that one ever work. Spending that money on housing that was available for those below median income (pro-rated based on income) seems like a much more effective and efficient option.
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