RRSP vs Corp Investing

When multiple tax sheltering vehicles are available to the incorporated physician, asset location becomes worthwhile to investigate and discuss. Here, I compare tax implications of various types of investments depending on where they are held inside your wealth portfolio and reveal how greatly it can impact wealth acceleration.

SBD Grind Down

Arguably one of the fundamental drivers for physicians to establish a corporation, the small business deduction is a crucial tax benefit to protect. High net worth families are susceptible to unnecessary higher tax bills if the SBD rules are overlooked. In this session I will discuss strategies to preserve this benefit through income diversion and asset location.

UHT

The underused housing tax has been a recent implementation whose applicability may catch incorporated physicians by surprise, particularly those who own rental properties inside a holding company. The relevant details as it pertains to physicians will be distilled.

Charitable Donations

Instinctively, charitable giving is often thought of as a distinctly separate process from wealth planning, but particular pathways to donate can lead to more tax efficient outcomes that benefit both you and the charity, making your dollars work better for all.

Behaviour Biases

Behavioural biases in finance are pervasive but often overlooked. Consideration and a deeper evaluation of entities such as loss aversion, experiential and confirmation bias have been shown in studies to improve wealth generation. Anecdotally, I have also found this to be true.

How To Beat The Market

When we think about generating wealth, it’s common to gravitate towards trying to find the best performing assets with the lowest expense ratios. But maybe instead, consider this as part of a larger process along the journey of your earned, invested and enjoyed dollar. A refocus toward creating a wealth framework, paying particular attention to the implication of taxes can help us beat the market by more than 3%.