CIFPs: Tax & Budget 2012 Update

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Option to Defer OAS Payments Voluntary deferral of OAS pension for up to five years Actuarially neutral Starting on July 1, 2013 Example #1 » Michael turns 65 in September 2013 » Defers pension to age 66 » Annual pension would be $6,948 vs. $6,481 (in <strong>2012</strong> dollars) Example #2 » Rita turns 65 in December 2013 » She forgoes OAS until age 70 » Annual OAS would be $8,814 vs. $6,481 (in <strong>2012</strong> dollars)
OAS/GIS – Proactive Enrolment Must currently apply to get OAS Otherwise, can only collect 11 months retroactively Grosvenor v AGC, 2011 FC 799 Starting in 2013, proactive enrolment regime to be phased in (to 2015)
Page 1 and 2: CIFPs: Tax & Budget 2012 Update Jam
Page 3 and 4: What are the 2012 tax brackets Fede
Page 5 and 6: Trivia Question 2 What percentage o
Page 7 and 8: What is this
Page 9 and 10: Tax rates - Average v. Marginal Ca
Page 11 and 12: Clients need help… RESP RDSP T
Page 13 and 14: Report Offshore Stash (T1135) Fore
Page 15 and 16: T1135 - Foreign Income Verification
Page 17 and 18: Taxation of Insurance Commissions -
Page 19 and 20: Taxation of Insurance Commissions -
Page 21 and 22: Budget 2012 Changes to the OAS sys
Page 23 and 24: OAS Increase in Life Expectancy
Page 25 and 26: OAS - Age Limit Currently collect
Page 27: OAS Phase-in Chart
Page 31 and 32: RDSPs - Government Benefits Matchin
Page 33 and 34: Improvements to RDSPs Plan holders
Page 35 and 36: EPSP Features Non-arm’s length e
Page 37 and 38: EPSP - Budget 2012 EPSP payments
Page 39 and 40: Eliminating the Penny
Page 41 and 42: Eliminating the Penny Royal C
Page 43 and 44: Rounding Down / Up - Example
Page 45: www.jamiegolombek.com Thank You Thi

CIFPs: Tax & Budget 2012 Update

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