• Talking Taxes

  • Apr 18 2024
  • Length: 22 mins
  • Podcast

  • Summary

  • Sonya Dolguina, Manager, Tax Consulting joins host Chris Cooksey to talk tax, including new tax accounts and laws, cross border tax implications as well some general tax planning topics:

    New account and laws

    • First Home Savings Account (FHSA), what is it and who can open one?
      • What if someone previously owned a home, can they open the FHSA account?
      • How can a FHSA help with supporting your adult children with purchasing their first home?

    o New tax law – federal anti-flipping rule for selling real estate held for less than a year

    o New tax law – multi-generational home renovation tax credit

    Cross Border

    • Tax implications of moving to Canada, including with investments and US retirement accounts from previous employer
    • Tax implications of moving out of Canada

    General Tax Planning

    • Income splitting with a spouse
    • Maximizing tax benefits of donations by donating stocks rather than cash

    Follow the podcast on LinkedIn: The Advantaged Investor

    Please subscribe, rate and review. Reach out at advantagedinvestorpod@raymondjames.ca.

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