Tax Free Savings Accounts: Navigate your clients around the Pitfalls - WEBINAR ON DEMAND
Tax Free Savings Accounts (TFSAs) are in place to incentivise Canadians to save while allowing for tax-free growth. There appears to be an uptick in the enforcement of TFSAs.
Tax Free Savings Accounts (TFSAs) are in place to incentivise Canadians to save while allowing for tax-free growth. There appears to be an uptick in the enforcement of TFSAs. In the ten years since its inception, the TFSA vehicle has increasingly become the account of choice for Canadians investors, but it can be mishandled. Let this walk-through identify potentially pitfalls for your clients to avoid.
Join John Grant and Kristy Balkwill from Norton Rose Fulbright LLP for an informative walk-through with practical guidance on TFSAs. As you see more and more of your clients using these as an investment strategy, become aware of identifying the pitfalls in its use – what types of investments and activity qualify, and the associated administrative considerations.
More specifically, topics discussed will include the following:
- Proper understanding of the legislative structure
- Pitfall - (1) The Contribution Limit – and its curious yearly fluidity
- Pitfall - (2) Qualifying, non-qualifying, and prohibited investments
- Pitfall – (3) “Trading” in securities
- Practical Take aways
- Key docs for the practitioner: hyperlinks to forms (fillable), publications, and commentary
This webinar will be of most interest to general practitioner accountants and tax accountants in small to medium sized firms, but may also be of interest to family lawyers and other professionals involved in financial & tax planning and the preparation of tax returns.
Professional Development Credits
CCH Canadian professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your specific situation.
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