Reconciling 2015 (tax treatment)

Now that the year is almost over, let’s plan on having an effective tax strategy to save some money in 2015.

Here are some check points to consider:

  1. First and foremost à Have you paid your installment yet? December 15th is the last installment tax deadline…if you have not done so yet, please to on or before December 2015.
  2. Investments à if you are thinking of selling your investment with losses, this is the time. Do so before 2015 so that you can confirm your settlement date.
  3. RRSPà in 2016, there are some changes coming to the personal tax rates. Plan your RRSP effectively to minimize your tax liability for 2015 year tax. If you do not have sufficient savings to contribute to your RRSP, you can always borrow funds to invest in RRSP.

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