tax Archives - Bridgewell

Muskoka cottage dock with canoe and people discussing tax planning

Strategies to mitigate capital gains tax liabilities on the family cottage

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

In our earlier blogs on developing a plan for the family cottage and the many legal considerations around cottage succession, we explored the emotional and financial sides of managing everyone’s favourite summertime (and in some cases four-season) family asset. But what about tax strategy? Simply put, the capital gains tax implications of owning a second property …

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financial advisor discussing estate planning with a client

Less-discussed aspects of estate planning: Longevity, a living legacy and your team

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

Typical estate planning discussions revolve around core elements such as trusts, beneficiary designations, tax planning and wills—and for good reason. These are all critical considerations. However, there are other estate planning pillars that typically gain less attention, but can be just as important in helping you achieve overall financial wellness and security. As we noted …

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Senior drinking coffee and thinking about retirement and the next chapter of her life

Forget retirement—Prepare for the next chapter of your life

Leave a Comment / News / By Bridgewell Financial

The recent protests in France over the two-year delay in the retirement age—to 64 years-old—left many North Americans scratching their heads. Most of us would be happy to hang it up a year earlier than our current official retirement age of 65, which might even reach 67 by the time many of us retire. The …

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family on a beach discussing personal financial planning

Overlooked financial planning opportunities: Personal finance edition

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

Achieving personal financial wellness is a journey rather than a destination. The process evolves over time with your changing circumstances—the start of a new business, the arrival of children, the sale of a business or a change of industry, as just a few examples—and requires constant reassessment. The financial planning strategy you employ today could …

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Structuring shareholder agreements: Lessons from the Rogers family feud

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

The highly-analyzed saga of the Rogers family has taught us more than a few lessons about business succession, family governance—especially when large sums of wealth are involved—and the need to carefully envision the future you want for your family once the main wealth builder passes on. But it’s also a clear lesson in the importance …

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Family cottage succession: Key tax and legal considerations

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

As we noted in our last blog on the many emotional aspects of owning a family cottage, issues such as property usage or joint ownership need to be carefully managed to prevent your dream getaway from turning into a source of inter-family squabbles. But what about the tax and legal implications of owning a vacation …

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Developing a plan for the most emotionally-charged asset you’ll ever own: the family cottage

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

In the first of this two-part blog, we look at the emotional aspects of managing a family cottage—and the importance of developing a plan to help address issues proactively before they create avoidable financial and family governance challenges. The Victoria Day long weekend is more than a statutory holiday across much of the country—it’s the …

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What the 2021 federal budget means to your financial well-being

Leave a Comment / News, Wealth and Financial Planning / By Bridgewell Financial

One of the most striking features of the 2021 federal budget —the first tabled in the COVID-19 era— was what it didn’t include. While it did contain some highly-targeted tax increases, it spared Canadians from any change to personal or corporate taxes or to the capital gains exemption rate, as some finance insiders had warned. …

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