GTA Wealth Finanical News

Informative financial and tax related articles from GTA Wealth Management Inc.

Tax Issues on Divorce

When a marriage or common law relationship breaks down, there are several issues to be considered in the process, some of which include financial and tax issues. The following article will examine some key Canadian tax rules that couples should take into consideration during a divorce or separation.

Brigitte’s Financial Review - A GTA Wealth Management Inc. case study

Brigitte was a referral from a current client. She was handling her investments at her local bank branch. She felt overwhelmed with the investments that she had and was unsure about the type of investments that she should have. She realized that she needed some help.

Canada-US Back Tax: Canada-United States Enhanced Tax Information Exchange Agreement Implementation Act

In recent news, two Canadian women are suing the Attorney General of Canada in Federal court claiming that the Canada-United States Enhanced Tax Information Exchange Agreement Implementation Act is a violation of their fundamental rights and freedoms.

The two women, Virginia Hills and Gwendolyn Deegan, are considered 'US Persons' under American law; Virginia and Gwendolyn claim that the Canadian government unconstitutionally shared their private banking information with the US Internal Revenue Service.

Mortgage Insurance: All Insurance is not Created Equally

With mortgage insurance from banks, if you die suddenly, banks can deny claims years later because of incorrect answers to health questions. A recent article in the Toronto Star discussed the pitfalls of mortgage life insurance that is offered by banks when an individual is approved for a mortgage.