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ADVISOR FOCUS - a newsletter from
10 Sep 2004

Current Issue | Subscribe to Advisor Focus | Back Issues

SPOTLIGHT: Cestnick on Taxes

Real Estate can be Taxing
Many people consider real estate as one of the most level-headed places to put your money these days. What's crazy is the number of Canadians who think they can sell these properties tax free. By now you're probably aware that residents of Canada can shelter the sale of a principal residence from tax by using the family's principal residence exemption (PRE). But in order to claim the PRE, you've got to "ordinarily inhabit" the residence. Read tax expert Tim Cestnick's full report:

  • Fund Education with Loan from Your Business
    As shareholders, business owners are able to borrow money from their companies. However, Canadian tax law is designed to limit the ability of shareholder to extract loans from their enterprise on a tax-free basis. Tim Cestnick sniffs out the legal precedents.
  • Tax Deductions for Employees
    The list of non-taxable benefits for employees includes obvious items such as education costs and merchandise discounts, but can also extend to mortgage subsidies, use of vacation property and employer-provided daycare. Read Cestnick's laundry list.

PLUS: Riverside Regards Takeover Bid by Tolko as Too Low

Bond Funds...and Bond Fund Alternatives

  • Bond Funds are Passé
    Based on Dan Hallett's analysis, only two funds posted ten-year returns (after fees) that topped the index – Altamira Income (which has historically made huge interest rate bets) and TD Canadian Bond (which has a policy of holding investment grade corporates). All others trailed the index. Read how Hallett crunched the numbers.
  • Hallett's Fixed income solutions
    Dan Hallett, CFA, offers his two cents on preparing the fixed income portion of a client's portfolio in a low but rising rate environment. Read the full report.

RBC Poaches from TSX, CIBC Unequivocal

  • RBC's Nixon Overhauls Bank, Poaches Stymiest from TSX
    RBC has poached Barbara Stymiest from the TSX and parted ways with three of its most senior executives as part of a massive shakeup of its front office and an overhaul of its organizational structure. Read Sinclair Stewart's report.

PLUS: Barbara Stymiest's TSX Legacy -- Modernizing a Financial Dinosaur

  • Bank Mergers: CIBC Says it's Not Interested
    Canadian Imperial Bank of Commerce says it has no interest in pursuing a merger with another bank or insurer, even if the federal government clarifies its policy on consolidation in the financial services sector. Stewart and Chase explain.
  • Flow-through Shares Not an Airtight Investment
    Resource companies and investors are in the midst of a torrid love affair with an investment product known as the flow-through share. But is the affair ultimately doomed? Deborah Yedlin sheds light on what drives and sinks these shares.