The document discusses strategies for saving for a child's post-secondary education. It outlines the rising costs of education and benefits of long-term planning. Various savings methods are examined, including RESPs, which provide tax benefits and potential grants. RESPs allow savings to grow tax-deferred, and withdrawals for educational expenses are taxed in the student's hands to allow income splitting.
Provide The Key To A First Class Educationpjdemees
Canadians with a university Bachelor level degree earn 50% more than someone with a high school diploma.
The question is – did these individuals have a plan to pay for their education or are they still paying for it now?
Let’s take a closer look.
The document discusses the importance of saving for a child's education and various options for doing so. It recommends setting up a Registered Education Savings Plan (RESP) to take advantage of grants like the Canada Education Savings Grant. An RESP allows savings to grow tax-deferred and grants can provide thousands in free money. It also suggests adding flexibility by supplementing an RESP with a Universal Life insurance policy.
This document provides information about Registered Disability Savings Plans (RDSPs) in Canada. RDSPs allow individuals with disabilities and their families to save and receive government grants to help fund for future needs. The government offers matching grants through programs like the Canada Disability Savings Grant of up to 300% of contributions. RDSPs also benefit from tax-deferred growth over many years. Withdrawals can begin at age 60 and are taxed then. RDSPs require long-term saving as government grants received in the past 10 years may need to be repaid upon any withdrawals or closing of the plan. Financial advisors can help determine optimal contribution strategies and ensure proper planning is in place.
The document summarizes key tax strategies and deadlines for the 2011 and 2012 tax years. It discusses estate tax exemptions, mortgage debt forgiveness, employer-provided education assistance, and other tax credits. It also outlines strategies related to family, education, jobs, homes, investments, and retirement planning.
The document discusses various options for saving for college, including 529 plans, Coverdell ESAs, U.S. savings bonds, and UTMA/UGMA custodial accounts. It notes that 529 plans offer high contribution limits and tax-free growth but have limited investment options. Coverdell ESAs are for smaller annual contributions but provide full investment control. U.S. savings bonds offer principal guarantees and tax benefits for qualifying taxpayers. UTMA/UGMA accounts provide some tax benefits but the child gains control of assets at a young age. The options vary in their flexibility, tax treatment, and suitability for different savers.
This chapter discusses the definition of gross income and various income categories that are included or excluded from gross income calculations for tax purposes. It covers interest, dividends, alimony, prizes, annuities, life insurance, gifts and inheritances. It also discusses exclusions such as employer-provided health insurance, meals and lodging, municipal bond interest, and social security benefits. The chapter contains examples and learning objectives related to calculating taxable portions of various income streams.
The document summarizes many of the major 2009 tax law changes including increased tax credits for first-time homebuyers, students, and the unemployed. It also discusses changes to deductions and credits related to mortgage debt cancellation, health care, children, energy efficiency, retirement, education, and more. Key aspects like increased standard deductions, tax rates, and phase-out thresholds are also covered.
Provide The Key To A First Class Educationpjdemees
Canadians with a university Bachelor level degree earn 50% more than someone with a high school diploma.
The question is – did these individuals have a plan to pay for their education or are they still paying for it now?
Let’s take a closer look.
The document discusses the importance of saving for a child's education and various options for doing so. It recommends setting up a Registered Education Savings Plan (RESP) to take advantage of grants like the Canada Education Savings Grant. An RESP allows savings to grow tax-deferred and grants can provide thousands in free money. It also suggests adding flexibility by supplementing an RESP with a Universal Life insurance policy.
This document provides information about Registered Disability Savings Plans (RDSPs) in Canada. RDSPs allow individuals with disabilities and their families to save and receive government grants to help fund for future needs. The government offers matching grants through programs like the Canada Disability Savings Grant of up to 300% of contributions. RDSPs also benefit from tax-deferred growth over many years. Withdrawals can begin at age 60 and are taxed then. RDSPs require long-term saving as government grants received in the past 10 years may need to be repaid upon any withdrawals or closing of the plan. Financial advisors can help determine optimal contribution strategies and ensure proper planning is in place.
The document summarizes key tax strategies and deadlines for the 2011 and 2012 tax years. It discusses estate tax exemptions, mortgage debt forgiveness, employer-provided education assistance, and other tax credits. It also outlines strategies related to family, education, jobs, homes, investments, and retirement planning.
The document discusses various options for saving for college, including 529 plans, Coverdell ESAs, U.S. savings bonds, and UTMA/UGMA custodial accounts. It notes that 529 plans offer high contribution limits and tax-free growth but have limited investment options. Coverdell ESAs are for smaller annual contributions but provide full investment control. U.S. savings bonds offer principal guarantees and tax benefits for qualifying taxpayers. UTMA/UGMA accounts provide some tax benefits but the child gains control of assets at a young age. The options vary in their flexibility, tax treatment, and suitability for different savers.
This chapter discusses the definition of gross income and various income categories that are included or excluded from gross income calculations for tax purposes. It covers interest, dividends, alimony, prizes, annuities, life insurance, gifts and inheritances. It also discusses exclusions such as employer-provided health insurance, meals and lodging, municipal bond interest, and social security benefits. The chapter contains examples and learning objectives related to calculating taxable portions of various income streams.
The document summarizes many of the major 2009 tax law changes including increased tax credits for first-time homebuyers, students, and the unemployed. It also discusses changes to deductions and credits related to mortgage debt cancellation, health care, children, energy efficiency, retirement, education, and more. Key aspects like increased standard deductions, tax rates, and phase-out thresholds are also covered.
The "Kiddie Tax" applies additional taxes to certain unearned income of children over $2,200 by taxing it at the parents' tax rate instead of the child's lower rate. This aims to prevent parents from lowering their tax liability by shifting investment assets to their children. A child's unearned income includes investment income like dividends, interest, capital gains, trust distributions, and other income from property gifted to them. The Kiddie Tax applies to children under age 18, as well as full-time students under age 24, who do not provide more than half of their own support through earned income.
Practical wealth management strategies for Health Care professionals looking to reduce taxes and maximize family estate using tax deferrals, income splitting, incorporation, insurance and Individual Pension Plans, among other strategies.
This document provides helpful tips for saving for education expenses through different account options like Education Savings Accounts (ESAs) and UGMA/UTMA accounts. It compares the key features of these accounts such as contribution limits, tax benefits, and restrictions on use of funds. ESAs allow tax-deferred growth and tax-free withdrawals for qualified education expenses, but contributions are not tax-deductible. UGMA/UTMA accounts require funds be used for the child's benefit, with the child gaining control at age of majority. The document recommends considering which account best fits savings goals and level of control desired.
Mr. X's gross total income for AY 2015-16 was Rs. 500,000. He paid Rs. 17,000 in medical insurance premiums for himself and his wife. He spent Rs. 15,000 for medical treatment of his disabled dependent sister. He also spent Rs. 30,000 for medical treatment of his wife who has cancer. After claiming deductions of Rs. 17,000 under Section 80D, Rs. 15,000 under Section 80DDb, and Rs. 30,000 under Section 80DDB, his total income for AY 2015-16 will be Rs. 438,000.
USE FAMILY TRUSTS to income split, grow wealth & save taxes, shift income to children & use this tax-free income to pay for expenses of your dependent children or grandchildren; take advantage of CRA low prescribed loan rate of 1% before it goes up...
Pragmatic Steps to Managing Money Early in Your CareerPeggy Groppo
GW & Wade provides comprehensive financial services including retirement planning, investment management, tax planning, estate planning, and more. Their expert counselors create custom plans for each client based on their unique needs and goals. Services include income tax planning, cash flow analysis, charitable gifting strategies, education planning, and executive team services. Counselors help clients manage their investments and assets to stay on track with their financial plans over time.
This document summarizes retirement planning and life assurance provisions for Alzheimer Scotland employees. It discusses key sources of retirement income like state pensions and personal pension funds. It outlines important questions for retirement planning such as saving targets and dates. The document also reviews Alzheimer Scotland's pension plan through NEST, including contribution levels, investment options, and benefits. Employees have life assurance of 3 times salary through Aviva that is paid to nominated beneficiaries upon death.
Cecil Nazareth, CPA: International Tax Planning & Update 2019Nazareth CPAs
Cecil Nazareth, CPA (www.nazarethcpas.com) deconstructs international tax planning issues at the New York State Society of CPAs (live session and webinar) in NYC.
This document summarizes key aspects of individual income tax calculations in the United States, including:
1) It outlines the basic formula for calculating individual tax liability, including components like gross income, deductions, exemptions, taxable income, tax rates, credits, and payments.
2) It describes the requirements for determining personal and dependency exemptions, including the definitions of a qualifying child and qualifying relative.
3) It explains the different filing statuses individuals can use, including married filing jointly, head of household, and qualifying widow. Examples are provided to illustrate how to determine the proper filing status.
Thanks to Ulster Savings Bank for hosting this event, guest speaker Jonathan Gudema of Planned Giving Advisors and to all of our participants for joining us to learn more about the impact of the new tax law on charitable giving.
The document summarizes a cascading life insurance strategy that allows clients to transfer assets between generations while minimizing taxes. It involves purchasing a permanent life insurance policy where the client's adult child is the life insured and owner. The client's non-registered assets are transferred into the policy. Upon the client's death, ownership can be transferred to the adult child without estate taxes. The adult child can then access the cash value or maintain the policy to provide death benefits to the client's grandchild beneficiary, avoiding taxes and probate fees. Marketing materials are provided to help advisors explain the strategy to clients.
- Gross income includes all income from any source unless specifically excluded by law. It includes cash as well as non-cash items valued at fair market value.
- Some common exclusions from gross income include life insurance proceeds, gifts, inheritances, employer-provided health insurance, and municipal bond interest.
- The tax treatment of other income sources like interest, dividends, alimony, annuities, and scholarships depends on certain rules and calculations explained in the document.
This document provides an overview of itemized deductions and other tax incentives allowed under the US tax code. It discusses medical expenses, taxes, interest, and charitable contributions that may be deducted. Specific examples are provided to illustrate how to calculate deductions for medical expenses, state income taxes, mortgage interest, and more. Educational savings options are also briefly mentioned.
This document discusses adoption tax credits at the federal and state level. At the federal level, taxpayers can claim a non-refundable tax credit of $12,970 per adopted child. Some expenses are qualified to claim the credit. The credit phases out for higher incomes. Employers may also provide up to $12,970 in adoption benefits exempt from income. Michigan is working to restore its state adoption tax credit.
The document summarizes a webinar about outreach efforts to promote awareness and claiming of the Earned Income Tax Credit (EITC). It introduces presenters from Catholic Charities USA, the Center on Budget and Policy Priorities, and the IRS. They discuss the importance of the EITC in lifting millions out of poverty, how eligible workers can benefit, and the need for outreach to connect more eligible individuals with free tax preparation assistance to claim the EITC.
Trudeaumania 2 and Trump Dynasty for Posting onlineMichael Bondy
Trudeaumania-2 and What's in Store for Us All
- Justin Trudeau wants to strengthen Canada's middle class through income-based programs that tax higher incomes and increase benefits for middle incomes.
- His approach involves larger public spending programs and deficits to "spend our way to happiness."
- However, Trudeau has moderated some of his policies since taking power and the future effects on taxpayers remain uncertain.
PYA hosted a complimentary one-hour webinar aimed at helping independent medical group owners, partners and practice executives, law firms, and financial advisors by offering strategies for physician practice survival. Practices are exploring every avenue to remain solvent while health systems express concerns about the survival of the independent groups in their communities.
PYA Principals Lori Foley and Jeff Bushong, along with Consultant Katie Ray, discussed:
Cash flow support, including the CARES Act Paycheck Protection Program and Medicare Advance Payments.
Staffing considerations, including the Families First Coronavirus Response Act (FFCRA), pay reductions, and furloughs.
Operations during crisis management, including topline revenue preservation and expense reductions.
The webinar took place Monday April 6, 2020, at 11:00 am EDT.
The document provides information about completing the Free Application for Federal Student Aid (FAFSA) for the 2009-2010 school year. It explains that the FAFSA is used to apply for federal and state financial aid. It outlines the steps to complete the FAFSA online and provides guidance for filling out each section, including student information, dependency status, parent information, student finances, and school information. Key details like social security numbers, income amounts, and asset values are required. The expected family contribution (EFC) will be calculated and used to determine eligibility for financial aid programs.
This webinar is presented by Sallie Hunt of Northwest Community Legal Clinic. It gives community service providers and advocates an overview of investment and savings vehicles for Ontario Disability Support Plan (ODSP) recipients. The webinar looks at exempt assets and allowed investments such as Registered Education Savings Plans and Registered Disability Savings Plans, and how they be can used to benefit ODSP recipients.
RESPs Helping Parents Save for their Children's Post-Secondary EducationHeba El Tawil, BA
The document summarizes Canada's education savings program called the Canada Education Savings Program (CESP). It offers incentives like the Canada Learning Bond and Canada Education Savings Grant to help parents save for their children's post-secondary education. The Registered Education Savings Plan (RESP) is a popular education savings vehicle in Canada, with over $47 billion and 5.4 million beneficiaries. RESPs allow tax-free growth of contributions and grants to save for a child's future education. Examples are provided showing how savings can grow over time through regular contributions to an RESP.
The "Kiddie Tax" applies additional taxes to certain unearned income of children over $2,200 by taxing it at the parents' tax rate instead of the child's lower rate. This aims to prevent parents from lowering their tax liability by shifting investment assets to their children. A child's unearned income includes investment income like dividends, interest, capital gains, trust distributions, and other income from property gifted to them. The Kiddie Tax applies to children under age 18, as well as full-time students under age 24, who do not provide more than half of their own support through earned income.
Practical wealth management strategies for Health Care professionals looking to reduce taxes and maximize family estate using tax deferrals, income splitting, incorporation, insurance and Individual Pension Plans, among other strategies.
This document provides helpful tips for saving for education expenses through different account options like Education Savings Accounts (ESAs) and UGMA/UTMA accounts. It compares the key features of these accounts such as contribution limits, tax benefits, and restrictions on use of funds. ESAs allow tax-deferred growth and tax-free withdrawals for qualified education expenses, but contributions are not tax-deductible. UGMA/UTMA accounts require funds be used for the child's benefit, with the child gaining control at age of majority. The document recommends considering which account best fits savings goals and level of control desired.
Mr. X's gross total income for AY 2015-16 was Rs. 500,000. He paid Rs. 17,000 in medical insurance premiums for himself and his wife. He spent Rs. 15,000 for medical treatment of his disabled dependent sister. He also spent Rs. 30,000 for medical treatment of his wife who has cancer. After claiming deductions of Rs. 17,000 under Section 80D, Rs. 15,000 under Section 80DDb, and Rs. 30,000 under Section 80DDB, his total income for AY 2015-16 will be Rs. 438,000.
USE FAMILY TRUSTS to income split, grow wealth & save taxes, shift income to children & use this tax-free income to pay for expenses of your dependent children or grandchildren; take advantage of CRA low prescribed loan rate of 1% before it goes up...
Pragmatic Steps to Managing Money Early in Your CareerPeggy Groppo
GW & Wade provides comprehensive financial services including retirement planning, investment management, tax planning, estate planning, and more. Their expert counselors create custom plans for each client based on their unique needs and goals. Services include income tax planning, cash flow analysis, charitable gifting strategies, education planning, and executive team services. Counselors help clients manage their investments and assets to stay on track with their financial plans over time.
This document summarizes retirement planning and life assurance provisions for Alzheimer Scotland employees. It discusses key sources of retirement income like state pensions and personal pension funds. It outlines important questions for retirement planning such as saving targets and dates. The document also reviews Alzheimer Scotland's pension plan through NEST, including contribution levels, investment options, and benefits. Employees have life assurance of 3 times salary through Aviva that is paid to nominated beneficiaries upon death.
Cecil Nazareth, CPA: International Tax Planning & Update 2019Nazareth CPAs
Cecil Nazareth, CPA (www.nazarethcpas.com) deconstructs international tax planning issues at the New York State Society of CPAs (live session and webinar) in NYC.
This document summarizes key aspects of individual income tax calculations in the United States, including:
1) It outlines the basic formula for calculating individual tax liability, including components like gross income, deductions, exemptions, taxable income, tax rates, credits, and payments.
2) It describes the requirements for determining personal and dependency exemptions, including the definitions of a qualifying child and qualifying relative.
3) It explains the different filing statuses individuals can use, including married filing jointly, head of household, and qualifying widow. Examples are provided to illustrate how to determine the proper filing status.
Thanks to Ulster Savings Bank for hosting this event, guest speaker Jonathan Gudema of Planned Giving Advisors and to all of our participants for joining us to learn more about the impact of the new tax law on charitable giving.
The document summarizes a cascading life insurance strategy that allows clients to transfer assets between generations while minimizing taxes. It involves purchasing a permanent life insurance policy where the client's adult child is the life insured and owner. The client's non-registered assets are transferred into the policy. Upon the client's death, ownership can be transferred to the adult child without estate taxes. The adult child can then access the cash value or maintain the policy to provide death benefits to the client's grandchild beneficiary, avoiding taxes and probate fees. Marketing materials are provided to help advisors explain the strategy to clients.
- Gross income includes all income from any source unless specifically excluded by law. It includes cash as well as non-cash items valued at fair market value.
- Some common exclusions from gross income include life insurance proceeds, gifts, inheritances, employer-provided health insurance, and municipal bond interest.
- The tax treatment of other income sources like interest, dividends, alimony, annuities, and scholarships depends on certain rules and calculations explained in the document.
This document provides an overview of itemized deductions and other tax incentives allowed under the US tax code. It discusses medical expenses, taxes, interest, and charitable contributions that may be deducted. Specific examples are provided to illustrate how to calculate deductions for medical expenses, state income taxes, mortgage interest, and more. Educational savings options are also briefly mentioned.
This document discusses adoption tax credits at the federal and state level. At the federal level, taxpayers can claim a non-refundable tax credit of $12,970 per adopted child. Some expenses are qualified to claim the credit. The credit phases out for higher incomes. Employers may also provide up to $12,970 in adoption benefits exempt from income. Michigan is working to restore its state adoption tax credit.
The document summarizes a webinar about outreach efforts to promote awareness and claiming of the Earned Income Tax Credit (EITC). It introduces presenters from Catholic Charities USA, the Center on Budget and Policy Priorities, and the IRS. They discuss the importance of the EITC in lifting millions out of poverty, how eligible workers can benefit, and the need for outreach to connect more eligible individuals with free tax preparation assistance to claim the EITC.
Trudeaumania 2 and Trump Dynasty for Posting onlineMichael Bondy
Trudeaumania-2 and What's in Store for Us All
- Justin Trudeau wants to strengthen Canada's middle class through income-based programs that tax higher incomes and increase benefits for middle incomes.
- His approach involves larger public spending programs and deficits to "spend our way to happiness."
- However, Trudeau has moderated some of his policies since taking power and the future effects on taxpayers remain uncertain.
PYA hosted a complimentary one-hour webinar aimed at helping independent medical group owners, partners and practice executives, law firms, and financial advisors by offering strategies for physician practice survival. Practices are exploring every avenue to remain solvent while health systems express concerns about the survival of the independent groups in their communities.
PYA Principals Lori Foley and Jeff Bushong, along with Consultant Katie Ray, discussed:
Cash flow support, including the CARES Act Paycheck Protection Program and Medicare Advance Payments.
Staffing considerations, including the Families First Coronavirus Response Act (FFCRA), pay reductions, and furloughs.
Operations during crisis management, including topline revenue preservation and expense reductions.
The webinar took place Monday April 6, 2020, at 11:00 am EDT.
The document provides information about completing the Free Application for Federal Student Aid (FAFSA) for the 2009-2010 school year. It explains that the FAFSA is used to apply for federal and state financial aid. It outlines the steps to complete the FAFSA online and provides guidance for filling out each section, including student information, dependency status, parent information, student finances, and school information. Key details like social security numbers, income amounts, and asset values are required. The expected family contribution (EFC) will be calculated and used to determine eligibility for financial aid programs.
This webinar is presented by Sallie Hunt of Northwest Community Legal Clinic. It gives community service providers and advocates an overview of investment and savings vehicles for Ontario Disability Support Plan (ODSP) recipients. The webinar looks at exempt assets and allowed investments such as Registered Education Savings Plans and Registered Disability Savings Plans, and how they be can used to benefit ODSP recipients.
RESPs Helping Parents Save for their Children's Post-Secondary EducationHeba El Tawil, BA
The document summarizes Canada's education savings program called the Canada Education Savings Program (CESP). It offers incentives like the Canada Learning Bond and Canada Education Savings Grant to help parents save for their children's post-secondary education. The Registered Education Savings Plan (RESP) is a popular education savings vehicle in Canada, with over $47 billion and 5.4 million beneficiaries. RESPs allow tax-free growth of contributions and grants to save for a child's future education. Examples are provided showing how savings can grow over time through regular contributions to an RESP.
RESPs Helping Parents Save for their Children's Post-Secondary EducationHeba El Tawil, BA
The document summarizes Canada's Canada Education Savings Program (CESP) which helps parents save for their children's post-secondary education. It offers post-secondary education savings incentives like the Canada Learning Bond and Canada Education Savings Grant. The Registered Education Savings Plan (RESP) is a popular education savings vehicle in Canada, with over $47 billion and 5.4 million beneficiaries. RESPs allow tax-free growth of contributions and grants. Examples show how monthly or annual contributions over time can lead to significant savings to fund a child's education.
- College costs are rising significantly, with tuition and fees projected to increase by over 5.5% annually on average. This is putting pressure on students and families to take on increasing debt loads to pay for education.
- A 529 plan is a tax-advantaged college savings plan that allows families to save and invest for future college expenses. Contributions to a 529 plan grow tax-free and qualified withdrawals are also federally tax-free.
- Putnam CollegeAdvantage is a 529 plan offered by Putnam Investments. It provides various investment options, tax benefits, and flexibility in managing savings for college. Contributions can be made in lump sums or installments and withdrawals are simple to take for qualified education
This document provides information about planning and saving for a child's education, including estimated costs of attending college, impact of inflation on costs over time, and different savings and funding options. It discusses calculating how much to save monthly based on the child's age and estimated college costs. It also outlines several US tax incentives available in 2013 to help pay for qualified education expenses, such as the American Opportunity Tax Credit, Lifetime Learning Credit, student loan interest deduction, and Education Savings Accounts.
The document discusses federal and state tax credits available for adoption-related expenses. For the federal adoption tax credit, taxpayers can claim a non-refundable credit of up to $11,390 per eligible child. Qualified adoption expenses include legal fees, travel costs, and other expenses related to legally adopting an eligible child under age 18. Some taxpayers may qualify for additional benefits if adopting a child with special needs. State of Michigan offers a refundable adoption tax credit of up to $1,200 per child or qualified expenses exceeding the federal credit.
This document is a guide to various tax credits available to Minnesota taxpayers for tax year 2014, including the Earned Income Tax Credit (EITC), Working Family Credit, Child Tax Credit, Child and Dependent Care Credit, American Opportunity Credit, Lifetime Learning Credit, K-12 Education Credit, and Minnesota Property Tax Refund. It provides information on eligibility requirements, maximum credit amounts, and required documentation for each credit. The guide also explains the difference between refundable and non-refundable tax credits and provides contact information for free tax preparation assistance.
The document provides information about Virginia's Education Improvement Scholarships Tax Credits program. It outlines that the program provides tax credits equal to 65% of donations made to approved foundations that provide scholarships for low-income students to attend non-public schools in Virginia. Donations are eligible for both a state tax credit and a federal/state tax deduction. The document provides examples of the significant tax savings available to both individual and business donors from making a donation. It also outlines the eligibility requirements for students to receive scholarships and explains the process for donors to obtain the tax credits.
CDF Texas Public Benefits Training 2011100% Campaign
Training for Title I, School Nurses, CIS workers, Counselors, Social Workers, Benefit Coordinators and other staff working with families and employees in Texas school districts. The training covers: Children’s Medicaid, the Children’s Health Insurance Program (CHIP), and the Earned Income Tax Credit/Child Tax Credit (EITC/CTC).
Understanding Social Security BenefitsTed Rosedale
An RSSA has completed training to understand Social Security rules and strategies. As many Americans do not understand Social Security, an RSSA can help clients make optimal claiming decisions through analysis of options. For example, they analyzed options for a couple and found they could gain $316,705 in lifetime benefits by both waiting until age 70 to claim compared to claiming at 62. Working with an RSSA provides consultation, analysis of all strategies, and a report of the most optimal claiming plan to maximize benefits.
The document discusses the gender retirement gap and provides strategies for women to achieve financial success. It notes that women need to save more than men to have equal assets in retirement due to factors like fewer years worked, lower pay, and longer lifespans. The key strategies recommended include spending less than you earn, investing early and often in retirement accounts, understanding risk tolerance, having a financial plan, and using tools to track spending and calculate savings needs. The document provides examples and calculations to illustrate how to determine the appropriate savings rate to meet retirement goals.
Hello, and welcome to the first Investment Bond webinar for 2017 - Investment Bond’s and Education Funding.
Presented by Greg Bird, National manager advice and strategy for investment bonds, Australian Unity Wealth.
Lifeplan Australia Friendly Society ABN 78 087 649 492 AFSL 237989. Property of the Australian Unity Group. Not to be reproduced without permission.
New student orientation powerpoint financial aid and your moneyAcademic Advisor
This document provides information about financial aid and payment options at Chattahoochee Technical College. It discusses applying for financial aid through FAFSA and GSFAPPS, available financial aid options including federal and state grants/loans as well as scholarships, tuition and fee costs, and payment deadlines. The key points are applying for financial aid requires submitting FAFSA, options include Pell grants, HOPE/Zell scholarships, payment is due by specified deadlines to avoid class schedule removal.
This document summarizes a financial advisory presentation on saving and paying for a child's college education. It discusses factors to consider like the costs of different types of colleges, available financial aid options, federal and private student loans, tax benefits, and savings vehicles like 529 plans. It also addresses developing a financial plan and goal for paying for education.
This presentation provides an overview of the road map needed to avoid the land mines and traps related to Medicaid. Proper planning is needed to preserve a legacy, cover final expenses and still be eligible for all available Medicaid benefits.
This document provides tax planning tables and guidelines for the 2010 tax year. It includes information such as income tax rates for different filing statuses, standard deduction amounts, exemptions, education tax credits, capital gains tax rates, and guidelines for retirement planning and debt management. Key deadlines are listed for making tax-related contributions and transactions by January, March, April, June, September, October, November, and December of 2010. The tables also provide estimated costs for public and private college education on an annual basis.
The document discusses various US tax credits including:
- The child tax credit of $1000 per qualifying child, phasing out above certain income thresholds.
- The earned income tax credit which is refundable and available to low-income workers with or without children.
- Education credits like the American Opportunity credit and Lifetime Learning credit that provide tax relief for higher education expenses.
The document discusses various strategies grandparents can use to fund their grandchildren's college education, including custodial accounts, outright gifts, gifts for tuition, employing the grandchild, loans, trusts, Coverdell accounts, 529 plans, Roth IRAs, life insurance, and annuities. Each option has advantages like potential tax benefits and shifting income to the grandchild, but also disadvantages like loss of control, impact on financial aid eligibility, and administrative costs. The best approach may be combining these strategies with financial aid planning to start saving early for rising college costs.
This webinar is presented by Catherine Manson of Flemingdon Community Legal Services. It gives community service providers an overview of benefits and provisions of the Canada Pension Plan (CPP) and the Old Age Security Pension (OAS).
Similar to Does your Education savings strategy make the Grade? (20)
Our Core Business : Holistic personalized approach to financial planningOMIRAJ
Our personalized approach to financial planning involves developing plans around the six basic disciplines of financial planning: investments, planning, tax planning, estate planning, risk management, and cash management. These plans are monitored and changed as necessary. Planning is a lifelong process aimed at achieving financial goals and objectives. For assistance with any financial matters, please contact Turenne Joseph.
Turenne Joseph is a financial advisor who is promoting group RRSPs. Some key benefits of group RRSPs include tax deferral, lower costs, professional management, flexibility, and portability. Contributions provide an immediate tax reduction and the power of compound returns can significantly grow savings over time. Group RRSPs also restrict early access to funds, allowing savings to be used at retirement. Interested individuals can contact Turenne Joseph to learn more and start contributing as little as $50 per month.
This document discusses tax efficient investing using Investors Group Corporate Class Inc. funds and Allegro Corporate Class Portfolios. It provides an overview of tax planning strategies like conversions, deductions, and deferrals to reduce taxable income. It highlights how corporate class funds allow tax-deferred growth and flexibility without contribution limits. A case study shows how corporate class funds can generate over $60,000 more than regular investments over 25 years due to lower taxes. The document also discusses using series T funds for tax efficient monthly payouts through return of capital distributions.
1. The document provides information about financial planning services offered by Turenne Joseph, a financial advisor with Investors Group. It discusses various financial topics and risks women may face.
2. Building wealth, protecting assets, and planning for retirement and legacy are important topics to discuss with a financial advisor. Insufficient planning can leave one vulnerable.
3. Meeting regularly with a financial planner allows them to ensure one's investments, insurance, and estate plan align with their goals and risk tolerance over the long term. Asking the right questions is important to financial security.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
6. Average earnings based on highest level of schooling: Less than high school $21,230 High school and/or some post secondary $25,477 Trade certificate/diploma $32,743 College certificate/diploma $32,736 University certificate/diploma/degree $48,648 Source: 2001 Census – Statistics Canada. Last modified 09/01/2004.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23. The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of your RESP or returns on investment 114 969 $ 87 141 $ - $ 10 000 $ 20 000 $ 30 000 $ 40 000 $ 50 000 $ 60 000 $ 70 000 $ 80 000 $ 90 000 $ 100 000 $ RESP Regular Income Basic CES Grant Contribution ( pretax) RESP : Contributing $208.33 at the start of each month for 18 years and 20% grant at the start of each month for 14.4 years and earning 8% “before taxes” over 18 years. Regular Investment : Investing $208.33 at the start of each month for 18 years earning 8% (a portion of the earnings is subject to annual taxation).
24.
25.
26.
Editor's Notes
Inscrivez sur la diapo votre nom, le titre qui apparaît sur votre carte d’affaires et le nom du courtier. Le nom de courtier sous lequel vous vous présenterez variera selon que vous êtes inscrit auprès de Services Financiers Groupe Investors Inc. (Association canadienne des courtiers de fonds mutuels – ACFM) ou de Valeurs mobilières Groupe Investors Inc. (Association canadienne des courtiers en valeurs mobilières – ACCOVAM). Si vous êtes titulaire d’un permis de l’ACFM, vous devez utiliser ce nom de courtier dans les scénarios : - Services Financiers Groupe Investors Inc., cabinet de services financiers (au Québec) - Services Financiers Groupe Investors Inc. (au Canada hors Québec) Si vous êtes titulaire d’un permis de l’ACCOVAM, vous devez utiliser ce nom de courtier dans les scénarios : - Valeurs mobilières Groupe Investors Inc., cabinet en planification financière (au Québec) - Valeurs mobilières Groupe Investors Inc. (au Canada hors Québec)
Si vous êtes titulaire d’un permis de Services Financiers Groupe Investors Inc. (Association canadienne des courtiers de fonds mutuels – ACFM), utilisez la première notice de cette liste. Si vous êtes titulaire d’un permis de Valeurs mobilières Groupe Investors Inc. (Association canadienne des courtiers en valeurs mobilières – ACCOVAM), utilisez la deuxième notice de cette liste. Supprimez la notice de courtier qui ne s’applique pas. S’il y a un conférencier invité, insérez la déclaration suivante sur cette page : Les opinions exprimées par le conférencier invité ne sont pas nécessairement celles du Groupe Investors.
Ce graphique illustre le coût type d’une année d’études postsecondaires (frais de scolarité et manuels - compte non tenu du coût de la vie) de 1972 à 2007. Bien que les frais de scolarité aient augmenté un peu moins rapidement ces dernières années, ils augmentent tout de même à un rythme supérieur à l’inflation. Selon Statistique Canada, les frais de scolarité pour une année d’études universitaires de premier cycle ont triplé depuis l’année scolaire 1990/1991, une hausse quatre fois plus rapide que celle du taux d’inflation au cours de la même période. Le coût moyen d’études universitaires de premier cycle à temps plein d’une durée de quatre ans est estimé à 18 096 $, et ce chiffre ne comprend pas les manuels, les frais de subsistance, les frais de transport, etc. Statistique Canada indique que les étudiants universitaires vivant à la maison ont dépensé en moyenne 4 500 $ par année pour des articles divers, comparativement à 8 160 $ pour les étudiants qui ne vivent pas avec leurs parents. De plus, les données de Statistique Canada (2003) indiquent qu’environ 50 % des diplômés des niveaux collégial et universitaire ont des dettes d’études à la fin de leur scolarité, surtout sous forme de prêts étudiants consentis pas l’État. Au collégial, la dette moyenne s’établissait à 13 000 $ tandis qu’elle se chiffrait à près de 20 000 $ pour un diplômé de l’université. Ces renseignements révèlent clairement l’importance d’épargner en vue des études postsecondaires de votre enfant ou de votre petit-enfant.
Les Canadiens qui possèdent un grade universitaire gagnent deux fois plus que leurs concitoyens qui sont titulaires d’un diplôme d’études secondaires. Les Canadiens qui possèdent un certificat de compétence professionnelle ou un diplôme d’études collégiales gagnent 54 % de plus que les titulaires d’un diplôme d’études secondaires. Ces chiffres indiquent clairement qu’il devenu essentiel pour les jeunes Canadiens de faire des études postsecondaires. Mais la question qui se pose maintenant est de savoir comment ils parviendront à financer ces études.
Comme vous pouvez le constater, il existe trois moyens simples pour financer les études postsecondaires. Le présent séminaire traite surtout du troisième moyen qui consiste à planifier et à épargner.
Voici quatre moyens pour épargner en vue des études d’un enfant ou d’un petit-enfant. Vous pouvez décider d’adopter un ou plusieurs de ces moyens, mais vous devez les utiliser séparément (par exemple, vous ne devez pas transférer un placement d’un compte au nom d’un mineur dans un REEE). Examinons de plus près les avantages et les inconvénients de chacun.
Les parents ou les grand-parents peuvent établir un compte de placement au nom d’un enfant. Les principaux avantages de ce moyen résident dans les coûts minimes et l’absence de restrictions quant à l’utilisation finale de l’argent (Ces fonds n’ont pas nécessairement à être utilisés à des fins d’éducation). Les gains en capital et le revenu composé (revenu gagné sur le revenu) sont imposés au nom de l’enfant étant donné que vous lui faites un don irrévocable lorsque vous établissez le compte en son nom. Les inconvénients sont l’imposition du revenu simple au nom du parent ou du grand-parent, l’accès restreint au compte tant que l’enfant est un mineur* et la perte de contrôle quant à l’utilisation de l’argent une fois que l’enfant atteint l’âge de la majorité. * Dans la plupart des provinces et des territoires, les comptes au nom d’un mineur sont gelés. Les rachats ou les transferts sont interdits ou permis seulement dans certains cas précis.** ** Remarque à l’intention des conseillers - pour de plus amples détails sur les règles en vigueur dans les provinces, veuillez consulter la rubrique « Placements au nom d’un enfant mineur », chapitre 10, Cahiers de renseignements sur l'impôt.
Une fiducie légalement constituée est une fiducie dont les conditions d’utilisation du bien (dans ce cas, l’argent) sont consignées par écrit . Parmi les avantages, mentionnons le contrôle par le fiduciaire (de cette manière, vous vous assurez que l’enfant utilise l’argent pour financer ses études postsecondaires ou pour toutes autres fins que vous approuvez), le fractionnement du revenu sur les gains en capital et le revenu composé (si le transfert à la fiducie est considéré comme un don irrévocable ), et le contrôle quant à l’utilisation de l’actif de la fiducie. Les inconvénients comprennent les coûts (vous devrez prendre rendez-vous avec votre avocat ou notaire pour rédiger les documents de fiducie et produire une déclaration de revenus annuelle pour la fiducie, ce qui pourrait entraîner d’autres frais) et le fait que c’est vous qui paierez l’impôt sur le revenu en intérêts simples et les dividendes gagnés sur le placement (à moins que la fiducie ne soit une fiducie testamentaire établie dans le cadre d’un testament). Cette stratégie est recommandée si vous épargnez un montant substantiel pour financer les études d’un enfant - habituellement 25 000 $ ou plus.
Une fiducie implicite est une fiducie dont les conditions ne sont pas consignées par écrit. En règle générale, le parent ou le grand-parent ouvre un compte de placement auprès d’institutions financières à son nom propre, en inscrivant les mots « en fiducie » au nom de l’enfant. Habituellement, le parent ou le grand-parent finance le compte de placement. Les avantages de ce type de compte sont les frais minimes et l’absence de restrictions quant à l’utilisation de l’argent par l’enfant ( ces fonds n’ont pas nécessairement à être utilisés à des fins d’éducation) . Les inconvénients sont le manque de clarté, ainsi que l’attribution et le contrôle du revenu. En raison de sa nature, la fiducie implicite manque de clarté. Comme les conditions ne sont pas consignées par écrit, tout n’est que supposition. Les mots « en fiducie » inscrits au compte ne signifient pas qu’un rapport de type fiduciaire existe réellement. Si une fiducie n’existe pas, rien n’a été accompli. Le plus difficile avec une fiducie implicite, c’est de prouver qu’il y a fiducie au sens de la loi, ce qui peut se traduire par des frais juridiques importants. Si une fiducie existe, on peut douter qu’elle soit irrévocable. Si elle n’est pas irrévocable, elle ne comporte pas l’avantage lié au fractionnement du revenu (l’ensemble du revenu et des gains en capital seront imposés au nom du parent ou du grand-parent). Pour qu’il y ait fractionnement du revenu, le transfert de l’actif dans le compte doit être irrévocable. Ainsi, pour établir un compte en fiducie : Vous devez vous assurer que le don est irrévocable - autrement, vous serez imposé sur l’ensemble du revenu de placement (intérêts, dividendes et gains en capital). Parce qu’il s’agit d’un don irrévocable, vous perdez le contrôle de l’argent et l’enfant, à sa majorité, y a entièrement accès et peut l’utiliser à son gré (ce qui peut signifier l’achat d’un système de son pour l’auto plutôt que des études universitaires). Au Québec, il est plutôt recommandé d’ouvrir un compte de mineur afin que les tuteurs de l’enfant puissent administrer les placements de ce dernier. Ce compte est ouvert au nom des parents, ou de toute autre personne, agissant en leur qualité de tuteurs à l’enfant.
Un régime enregistré d’épargne-études ou REEE est une fiducie régie par la Loi de l’impôt sur le revenu (Canada) qui permet au souscripteur (habituellement un parent ou un grand-parent) de verser des cotisations au nom d’un bénéficiaire (habituellement un enfant) pour épargner en vue de ses études postsecondaires. Les avantages sont les suivants : l’établissement d’un REEE est simple, il n’y a pas de frais juridiques et comptables, et le cotisant conserve le plein contrôle sur les fonds. L’imposition de la totalité du revenu (intérêts, dividendes et gains en capital) est reportée tant que l’actif sous-jacent est détenu dans le REEE; lorsque l’enfant fait ses études postsecondaires, le revenu de la fiducie est imposé à son nom (éventuellement à un taux d’imposition peu élevé, voire nul); les gains du régime servent à financer des études postsecondaires, mais le parent ou le grand-parent garde le contrôle sur les cotisations. Dans certains cas, le REEE est admissible à la Subvention canadienne pour l'épargne-études ou à d’autres subventions gouvernementales comme le Bon d’études canadien (BEC), la subvention du régime d’épargne-études du centenaire de l’Alberta (ACES) et éventuellement l’incitatif québécois à l’épargne-études (IQÉÉ) . Parmi les inconvénients, mentionnons les restrictions relatives au montant pouvant être cotisé au REEE ( montant cumulatif ) et à l’utilisation du revenu du régime, advenant que le bénéficiaire ne fasse pas d’études postsecondaires (cette question sera traitée plus loin).
Les principaux avantages du REEE sont les suivants : Report de l’impôt - chaque cent investi dans le REEE croît à l’abri de l’impôt jusqu’au retrait; Possibilité de fractionner le revenu - lorsque votre enfant reçoit un paiement d’aide aux études (PAE) du REEE, c’est lui (plutôt que vous) qui paye l’impôt sur le montant retiré. Fort probablement, il paiera très peu d’impôt sur ce montant étant donné qu’à titre d’étudiant, son revenu est vraisemblablement peu élevé et qu’il a droit à de nombreux crédits pour études et frais de scolarité. Subvention du gouvernement - Ressources humaines et Développement social Canada octroie une subvention gouvernementale fondée sur les cotisations versées au REEE (vous trouverez de plus amples renseignements sur le fonctionnement de la subvention plus loin). Ce ministère peut aussi octroyer le Bon d’études canadien, une subvention qui ne requiert pas de cotisations équivalentes de la part du cotisant au REEE. Pour terminer, le gouvernement de l’Alberta a mis sur pied son propre programme de subventions et le gouvernement du Québec a proposé l’incitatif québécois à l’épargne-études (IQÉÉ) .
N’importe qui peut établir un REEE et y verser des cotisations au nom d’un bénéficiaire, sous réserve de plafonds de cotisation. Un « souscripteur » peut même établir un REEE pour lui-même (s’il prévoit effectuer des études, bien qu’il n’ait pas accès à la subvention gouvernementale comme adulte). Certains types de REEE (connus sous le nom de régimes « familiaux ») exigent que le souscripteur soit un parent/grand-parent des bénéficiaires. Mais les régimes « individuels non familiaux », comme celui qu’offre le Groupe Investors ne comportent pas une telle exigence.
La cotisation annuelle maximale à vie de 50 000 $ s’applique au bénéficiaire et non au régime. Par conséquent, si vous n’êtes pas le parent de l’enfant bénéficiaire, il serait logique de discuter de votre projet d’établir un REEE avec les parents de l’enfant, de façon à vous assurer que les cotisations de l’ensemble des cotisants ne dépassent pas le maximum de 50 000 $ par enfant. Étant donné la manière dont la SCEE fonctionne, il est préférable dans bien des cas de s’en tenir à des cotisations comprises entre 2 500 $ et 5 000 $ par année.
L’un des principaux avantages d’un REEE est la possibilité d’obtenir une Subvention canadienne pour l'épargne-études de Ressources humaines et Développement social Canada. Afin qu’une cotisation au REEE soit admissible à la subvention, le bénéficiaire : doit être âgé de 17 ans ou moins; doit être un résidant du Canada; doit posséder un numéro d’assurance sociale valide Un bénéficiaire âgé de 16 ou de 17 ans n’aura droit à la subvention que si l’une des conditions suivantes étaient remplies dans l’année précédant celle o ù il a eu 16 ans (c’est-à-dire avant la fin de l’année de son 15 e anniversaire) : un minimum de 2 000 $ de cotisations a été versé à des REEE à son égard avant l'année où il a atteint l'âge de 16 ans, et n'en a pas été retiré; des cotisations annuelles d’au moins 100 $ ont été versées à des REEE à son égard été versé à des REEE à son égard au cours d'au moins quatre années quelconques avant l'année où il a atteint l'âge de 16 ans, et n'en a pas été retiré. Un enfant résidant canadien admissible accumule des droits à la subvention chaque année même si aucun REEE n’est établi en son nom. Le montant de subvention de base inutilisée peut être reporté (mais pas le montant de subvention supplémentaire). Par conséquent, vous pouvez habituellement reprendre le temps perdu si aucun REEE n’a été établi à la naissance de l’enfant ou avant 1998 (l’année où le programme de subvention a été mis sur pied) et si vous disposez de suffisamment de temps pour cotiser avant le 25 e anniversaire du régime.
Tel que mentionné dans la diapositive précédente, le programme de la SCEE de base a été créé en 1998. De 1998 à 2006, tous les enfants résidant au Canada avaient accès à des droits à subvention annuels de 400 $, ces droits ayant été bonifiés à 500 $ pour 2007 et les années suivantes. Ces droits à subvention s’accumulent depuis 1998 ou l’année de naissance de l’enfant, si elle est postérieure à 1998. Voici un exemple de ce qui précède : supposons un enfant né en 2006; supposons un REEE établi en 2008. Cet enfant dispose de 1 400 $ en droits à subvention (400 $ pour 2006 et 500 $ pour 2007 et 2008). Si le souscripteur (supposons que ce sont les parents) cotise 5000 $ en 2008, une subvention de 1 000 $ sera versée au régime par RHDSC. Il reste donc une somme de 400 $ en droits à subvention inutilisés. L’année suivante (2009) - cet enfant dispose de droits à subvention de 900 $ (droits à subvention inutilisés de l’année antérieure, et droits à subvention de 500 $ créés pour la nouvelle année). Le versement d’une nouvelle cotisation de 5 000 $ en 2009 permettra d’obtenir une autre subvention de 900 $ qui sera versée par RHDSC. L’enfant n’a alors plus de droits à subvention inutilisée. À noter qu’une cotisation de 4 500 $ lui aurait aussi valu la subvention de 900 $. Les 500 $ de cotisations en sus ne rapportent aucune subvention. En 2010 et les années subséquentes - une cotisation de 2 500 $ donne droit à une subvention de 500 $ chaque année et réduit à néant les droits à subvention cumulatifs. Contrairement à la SCEE de base, la SCEE supplémentaire ne s’accumule pas pour les années suivantes. Si vous ne versez pas de cotisation admissible dans l’année où vous pouvez le faire, vous ne pourrez pas rattraper le temps perdu.
Le programme de SCEE est un programme de contrepartie – vous devez cotiser au REEE pour avoir droit à la subvention. Dans le cas de la SCEE de base, le taux de contrepartie est de 20 %. Pour un enfant qui ne possède pas de droits inutilisés et dont les droits s’élèvent par conséquent à 500 $, la subvention ne couvre que la première tranche de 2 500 $. Par contre, si l’enfant a accumulé des droits, la subvention peut aussi s’appliquer à la tranche suivante de 2 500 $. La SCEE de base ne peut dépasser 1 000 $ par année. Une SCEE supplémentaire est versée aux familles dont le revenu est inférieur aux seuils prescrits, soit 37 178 $ et 74 357 $ en 2007. Dans le cas de familles dont le revenu est inférieur à 37 178 $, la première tranche de cotisations de 500 $ bénéficie d’un taux de contrepartie additionnel de 20 %, pour un total de 40 %. Quant aux familles dont le revenu se situe entre 37 178 $ et 74 357 $, le taux de contrepartie supplémentaire est de 10 %. La SCEE supplémentaire maximale correspond donc à 100 $ ou à 50 $ (ou à 0 $), en fonction du niveau de revenu.
Le BEC est offert aux enfants nés après le 31 décembre 2003. Cotisations de contrepartie – il n’est pas nécessaire de cotiser à un REEE pour générer des droits au BEC ou pour l’obtenir. Les droits au BEC s’accumulent jusqu’au 21e anniversaire de l’enfant. S’ils n’ont pas été demandés à cette date, ils disparaissent, sauf en cas de situation exceptionnelle. Critère de revenu – Le BEC n’est offert qu’aux enfants qui reçoivent le Supplément de la Prestation nationale pour enfants ou SPNE qui fait partie de la Prestation fiscale canadienne pour enfants (PFCE) versée aux familles à faible revenu. Le seuil de revenu pour déterminer l’admissibilité au SPNE varie en fonction de la taille de la famille. En règle générale, les familles dont le revenu dépasse 35 000 $ n’ont pas droit au SPNE. Montant – Le montant du BEC s’élève à 500 $ pour la première année d’admissibilité, et à 100 $/année admissible jusqu’à ce que l’enfant atteigne l’âge de 15 ans, à concurrence d’un versement maximum cumulatif de 2 000 $.
L’un des principaux avantages d’un REEE est la possibilité d’obtenir une Subvention canadienne pour l'épargne-études de Ressources humaines et Développement social Canada. Afin qu’une cotisation au REEE soit admissible à la subvention, le bénéficiaire : doit être âgé de 17 ans ou moins; doit être un résidant du Canada; doit posséder un numéro d’assurance sociale valide Un bénéficiaire âgé de 16 ou de 17 ans n’aura droit à la subvention que si l’une des conditions suivantes étaient remplies dans l’année précédant celle o ù il a eu 16 ans (c’est-à-dire avant la fin de l’année de son 15 e anniversaire) : un minimum de 2 000 $ de cotisations a été versé à des REEE à son égard avant l'année où il a atteint l'âge de 16 ans, et n'en a pas été retiré; des cotisations annuelles d’au moins 100 $ ont été versées à des REEE à son égard été versé à des REEE à son égard au cours d'au moins quatre années quelconques avant l'année où il a atteint l'âge de 16 ans, et n'en a pas été retiré. Un enfant résidant canadien admissible accumule des droits à la subvention chaque année même si aucun REEE n’est établi en son nom. Le montant de subvention de base inutilisée peut être reporté (mais pas le montant de subvention supplémentaire). Par conséquent, vous pouvez habituellement reprendre le temps perdu si aucun REEE n’a été établi à la naissance de l’enfant ou avant 1998 (l’année où le programme de subvention a été mis sur pied) et si vous disposez de suffisamment de temps pour cotiser avant le 25 e anniversaire du régime.
Bien que le revenu du REEE soit entièrement imposable (pour l’enfant bénéficiaire s’il reçoit une PAE), veuillez noter que vous pouvez retirer les cotisations du régime en franchise d’impôt. Il n’est pas recommandé qu’un parent retire ses cotisations du régime avant que l’enfant entreprenne des études postsecondaires, étant donné que dans ce cas, il devra rembourser la SCEE à RHDSC . Cette question ne se pose habituellement pas si le capital est retiré après le début des études postsecondaires de l’enfant.
Bien que le revenu du REEE soit entièrement imposable (pour l’enfant bénéficiaire s’il reçoit une PAE), veuillez noter que vous pouvez retirer les cotisations du régime en franchise d’impôt. Il n’est pas recommandé qu’un parent retire ses cotisations du régime avant que l’enfant entreprenne des études postsecondaires, étant donné que dans ce cas, il devra rembourser la SCEE à RHDSC . Cette question ne se pose habituellement pas si le capital est retiré après le début des études postsecondaires de l’enfant.
Voici un exemple de l’avantage lié au report d’impôt et à la subvention que procure un REEE comparativement à une autre forme de placement (comme un compte en fiducie ou un placement dans un compte au nom d’un enfant mineur). Dans les deux cas - une cotisation mensuelle de 208,33 $ est effectuée pendant 18 ans et le taux de rendement est de 8 %. Dans le cas du REEE, une subvention mensuelle de 41,67 $ est versée au régime (20 % de 208,33 $) et le placement continue de croître à l’abri de l’impôt. La subvention est versée jusqu’à ce que le plafond de 7 200 $ soit atteint. Pour ce qui est du placement ordinaire, aucune subvention n’est versée. Le taux de rendement comprend les intérêts, les dividendes, les gains en capital réalisés et la croissance reportée. Tous ces gains, sauf la croissance reportée, sont sujets à une imposition annuelle de 40 %. Le résultat final est clair - dans le cas du REEE, la même cotisation mensuelle donne un résultat de 114 969 $, tandis que dans un placement ordinaire, elle rapporte 87 141 $. Veuillez noter que des 114 969 $ accumulés, une somme de 63 000 $ est assujettie à l’impôt au retrait du REEE. Toutefois, comme l’enfant utilise probablement le revenu pour payer ses études postsecondaires, il ne paiera qu’un impôt minime, peut-être même aucun. Ceci est dû au taux d’imposition probablement peu élevé auquel l’enfant est assujetti, compte tenu du crédit d’exemption personnelle et des divers crédits d’études et de frais de scolarité auxquels il a accès. À propos, une cotisation mensuelle de 208,33 $ à un REEE est le montant nécessaire pour optimiser les droits à subvention de 500 $ offerts chaque année.
Il existe des lignes directrices qui régissent le versement d’un paiement d’aide aux études (PAE) à partir d’un REEE au nom d’un bénéficiaire pour fins d’études. Au moment du versement, le bénéficiaire doit être inscrit à un programme de niveau postsecondaire dans un établissement d’enseignement postsecondaire. Le programme doit être un « programme de formation admissible » (PFA) ou un « programme de formation déterminé » (PFD). Le PFA doit durer au moins 3 semaines consécutives et prévoir au moins 10 heures par semaine de cours ou de travaux. De plus, l’établissement d’enseignement doit considérer l’étudiant comme un étudiant à « temps plein » ou à « temps partiel » selon la définition qu’il donne à ces termes. Le PFD doit durer au moins 3 semaines consécutives et prévoir au moins 12 heures par mois de cours ou de travaux. L’établissement d’enseignement n’est pas tenu de considérer l’étudiant comme un étudiant « à temps plein » ou à « temps partiel ». Le retrait maximal au titre des PAE peut être limité à 5 000 $ pendant les 13 premières semaines d’un programme d’études postsecondaires (PFA) ou à 2 500 $ par trimestre de 13 semaines (PFD). On peut avoir accès à des fonds supplémentaires avec l’approbation écrite de RHDSC.
Si votre enfant décide de voyager pendant un an ou deux avant d’entreprendre des études supérieures, il n’y a aucun problème. Tel que mentionné plus tôt, l’argent peut être conservé dans le REEE jusqu’à la 25 e année suivant l’établissement du régime (30 e année dans certains cas lorsque l’enfant est handicapé). Si votre enfant décide de ne pas entreprendre des études postsecondaires, vous pouvez : 1. Changer de bénéficiaire pour la plupart des REEE. Certaines restrictions s’appliquent dans ce cas, lesquelles seront traitées ultérieurement. 2. Toucher le revenu du REEE. Vous pouvez retirer, à titre de cotisant/souscripteur, jusqu’à 50 000 $ du revenu du régime et l’ajouter à votre RER personnel ou à votre RER de conjoint, à condition de disposer de droits de cotisation suffisants, ou vous pouvez retirer le revenu sous forme d’espèces, lequel sera assujetti à une pénalité fiscale de 20 % l’année du retrait. Cette pénalité s’ajoutera à l’impôt régulier à votre taux marginal d’imposition. Afin de transférer le revenu du REEE dans un RER ou de le retirer en espèces : Le REEE doit avoir été créé depuis au moins 10 ans; Vous devez être un résidant du Canada; Votre enfant est âgé d’au moins 21 ans et ne poursuit pas ses études postsecondaires.
Essentiellement, je recommande à quiconque veut épargner en vue des études d’un enfant d’envisager l’établissement d’un REEE. Cette mesure permet de tirer parti de la SCEE et d’un report d’impôt. Toutefois, si vous prévoyez épargner plus de 2 500 $ par année, soit le montant nécessaire pour optimiser la SCEE annuelle de 500 $, il existe, en plus du REEE, d’autres options appropriées pour épargner en vue des études. Avez-vous des questions? J’espère que cette présentation a répondu à vos attentes et je vous remercie de votre participation.