Ottawa Investment Advisor John Bruce

Post-Election Commentary 2015

October 21, 2015 · Print This Article

We now have a new majority Liberal Government and they have promised to change the TFSA rules by decreasing the annual contribution room from $10,000 back to $5,500. If you do not have a TFSA, you are missing out on tax free capital gains, tax free dividend income and tax free interest income. Every investment you can make in your RSP can be made in your TFSA only you don’t pay tax on your withdrawals, it does not impact other income and for seniors it will not result in claw backs to your pension income.

If you have a TFSA at a bank collecting low, low interest, then you are squandering this wealth building tool. Prepare to take advantage of the annual $10,000 TFSA contribution before it is gone.

Simply put — max out your contributions before it is too late.

Sincerely,

John S. Bruce
Senior Investment Advisor

 

Mackie Research Capital is a national investment firm with offices in Vancouver, Calgary, Regina, Toronto and Montreal.

The comments included in the publication are not intended to be a definitive analysis of tax law. The comments contained herein are general in nature and professional advice regarding an individual’s particular tax position should be obtained in respect of any person’s specific circumstances.
The opinions, estimates and projections contained herein are those of the author as of the date hereof and are subject to change without notice and may not reflect those of Mackie Research Capital Corporation (“MRCC”). The information and opinions contained herein have been compiled and derived from sources believed to be reliable, but no representation or warranty, expressed or implied, is made as to their accuracy or completeness. Neither the author nor MRCC accepts liability whatsoever for any loss arising from any use of this report or its contents. Information may be available to MRCC which is not reflected herein. This report is not to be construed as an offer to sell or a solicitation for an offer to buy any securities. Member-Canadian Investor Protection Fund / member-fonds canadien de protection des ├ępargnants.

 

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