Novel Wealth | Novel Ideas Blog

Taking the Risk Out of Retirement Income

May 13, 2024

For those heading towards or already in retirement, now is not the time to gamble with your future.

Sharing is Caring – and More Tax Efficient

April 29, 2024

One way to stay a step ahead and to improve next year’s returns is income splitting.

Digesting the Proposed Capital Gains Tax Hike

April 25, 2024

History, ultimately, will be the judge of the recently proposed capital gains tax hike. The Government argues the extra billions of dollars generated will be invested in programs that give people a fairer chance “to build a good, middle-class life”, but critics say this will deter the risk-taking capital that stimulates economic growth and penalize hard-working business owners and individuals.

Income Tax Deadline Checklist

March 29, 2024

No sooner have you navigated the RRSP contribution deadline, then another key date looms into view – your annual income tax return. If only the world was so keen to remind you to watch movies or take a vacation!

Navigating Federal Tax Credits in Canada

March 27, 2024

As tax season approaches, understanding the various federal tax credits available in Canada is essential for maximizing your tax savings.

Understanding Tax Credits vs. Tax Deductions in Canada

March 22, 2024

Tax season is upon us, and navigating the maze of tax jargon can be daunting. One common confusion is the difference between tax credits and tax deductions. Let’s demystify these terms!

Want to Save on Your Taxes When Working From Home? This Year is Different.

March 15, 2024

During the pandemic, the government introduced a simple method to get credit for the fact that most employees were working from home for prolonged periods. However, as we shift back to the office, the rules have changed for the 2023 tax year.

Taxes on RSUs and Share Purchase Plans

March 14, 2024

Tech workers, how are your RSUs taxed? What about your share purchase plan? Do you owe taxes on that?

You May Be at Risk of Severe Tax Penalties - Without Even Knowing It!

March 11, 2024

Are You Filing Your T1135 Form? Here's Why You Should and What You Need to Know!

Navigating Tax Season: Avoiding the Top 5 Mistakes Canadians Make When Filing Taxes

March 4, 2024

Tax season can be a daunting time of year for many Canadians, filled with paperwork, calculations, and deadlines. Filing taxes accurately is crucial, as errors can lead to delays in processing, missed deductions, or even penalties from the Canada Revenue Agency (CRA).

Bad Fees, Good Fees and Great Fees: What am I really paying for?

February 9, 2024

Like all tech professionals, you are probably scouring the internet and asking friends to get an answer to this question: Can I manage my financial plan myself? Do I need to hire a professional? The answer is almost certainly yes.

Can We Finally Expect Interest Rate Cuts?

January 15, 2024

No one can really predict the future. But rewind to the end of 2022 and analysts were forecasting recessions, hard landings, and interest rate cuts. They never happened.

How to Beat Blue Monday

January 12, 2024

When it comes to personal finances, January can be a month when the festive adrenaline eases and your own economic reality hits home. The cure lies in forward-thinking, positive mindset and goal setting.

A Family Office Experience

January 9, 2024

What’s a family office? Imagine all your financial needs taken care of by one team; seamless collaboration between your financial planner, investment manager, account manager, accountant, lending partner, life, health, and property insurance brokers. All working in harmony to build and safeguard your wealth.

The Current State of Alts

December 19, 2023

What a year 2023 is closing out to be. Markets have been up, down and all around. For investors with a traditional 60/40 portfolio, the current value is probably less than the start of the year.

A Lifetime of Contributions

December 13, 2023

According to Lao Tzu, a wise Chinese philosopher, a journey of a thousand miles begins with the first step. Whatever your inspiration to start investing, whether it is a book, lunch with a friend or an introduction to a financial advisor nothing happens without your first contribution.

Time is Your Quiet Investing Partner

December 6, 2023

Time is your greatest investing partner, but its value can be overlooked. Passive and quiet, this partner won’t bang on your door and say it’s time to get started, that part is up to you. But slowly and quietly this partner will start doing some of the investment lifting for you and before you know it your contributions are no longer the most important. Investing is easy once you understand the fundamentals, and using time to your advantage is one of them.