CRA provides new rules for claiming home office expenses

There’s a temporary flat-rate method for up to $400, and a simplified “detailed” method with a new Form T2200. The Canada Revenue Agency (CRA) released details on its new home office expense rules Tuesday, introducing a temporary flat-rate method for employees with modest expenses to claim up to $40...

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Willing Wisdom Webinar

We are excited to bring you Tom Deans, author of Willing Wisdom, on our first webinar in our series of eleven of estate webinars! Check out our full list of webinars on our You Tube page!  ...

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Thank You from the Tower Group!

Thank you for your extraordinary efforts during this crisis. You drive, professionalism and undaunted courage in the face of the most instense pandemic in modern histroy is appreciated by everyone. We also wanted to share this video with you - we thank the entire healthcare community for sacrif...

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Federal $82 Billon COVID-19 Emergency Response Package To Support Businesses, Workers

On Wednesday, Prime Minister Justin Trudeau annouced an additional $82 billion as part of the Government of Canada COVID-19 Economic Response Plan. The measures outline $27 billion for Canadian workers and businesses as well as $55 billon to help business liquidity thorugh tax defferals. The latest ...

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Why Long-Term Investors Shouldn't Sell in a Panic

"The adage "keep calm and carry on" might, in the end, be the best advice for investors to follow during times of extreme market volatillity such as the present. While that might seem counterintuitive to sit back and relax while stocks post swift and steep losses, for investors with longer-term ti...

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Coronavirus - Understanding Market Reactions

The market on Thursday officially entered correction territory with the COVID-19 coronavirus outbreak spreading global panic and anxiety for financial markets - when it dipped 10 percent below its high. Although this was the sharpest slide since the financial crisis — and the largest one-day point l...

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From the Retirement savings years to the Retirement spending years

For most of our working life, we have been conditioned from the start in thinking about retirement one day in the future and pick that date. Every January and February we are bombarded by the financial institutions and their advertising to promote us saving for our retirement through RRSPS.  These d...

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Government likely to increase taxes of incorporated business owners

On July 18th, federal Finance Minister Bill Morneau announced proposed changes to the income tax regime that, if implemented, are likely to increase the tax bill of every Canadian private corporation shareholder. Three main changes are contemplated: 1. Income sprinkling Currently, owners of private ...

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7 Steps to Successful Estate Planning

Most people don’t know what estate planning entails but many tend to shy away from the topic thinking it’s complicated or not yet relating to them. That’s where The Tower Group comes in…making an important topic easier to understand and potentially even fun to work on! What we often hear from our cl...

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Proper Planning Means Expect the Unexpected

Within all the uncertainty and turmoil in the world, we also often see crisis close to home. Confidence comes from being as prepared as possible and a proper plan enables a more robust plan for growth. Planning for negative unexpected events certainly doesn’t just mean that we have insurance in plac...

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Start talking to kids about money. Now.

Raising children in a wealthy household can create some special challenges for parents. It’s no secret that most families don’t like to talk about money, even wealthy ones. Managing money, whether we’re earning it or spending it, is a part of everyone’s life. Knowing how to use money is important pr...

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Our love affair with debt is getting risky

Have you noticed lately, when you’re really talking to friends, family or even your financial advisor, how often the topic of managing monthly expenses comes up? It seems to be that more and more people are struggling with cash flow and there just doesn’t seem to be enough to cover everything. For m...

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