Now that Tax Season is Over...

May 17, 2017

 

TAX SUGGESTIONS:

  • If you or a spouse or member of family has a long term medical concern (mobility included) then you may want to complete the application for the disability tax credit.  We handed out the forms to several tax and/or investment clients this year who are now reducing their tax liability by about $1,500 per year.  This tax credit is only a benefit if there is tax being paid.

  • For those with investments outside RRSP/RRIF/TFSA you may want to consider setting up your portfolio so that certain fees are tax deductible.  This is of particular interest to those in higher tax brackets.

  • Maximize group RRSP programs that are matching contributions by ANY amount.  Those not in a defined benefit pension plan NEED TO FOCUS on building their own personal pension plan as early and often as possible.

 

 

INVESTMENT SUGGESTIONS:

I have 3 investment ideas today that will be appropriate for many clients. One deals with the energy sector and one the healthcare sector. (click on name of fund for more information).

 

The first is the Harvest Healthcare Leaders Income Fund.  This fund is appropriate due to global aging populations, Increasing living standards, and medical innovations.

 

The second is the Harvest Energy Leaders Plus Income ETF. This fund has a current yield close to 11% due to the pullback in stock prices in the energy sector. 

 

The third is MINIMIZE exposure to investment grade fixed income INSIDE BALANCED FUNDS.  There is no benefit paying close to 2% per year to own investments often paying less than 2% a year (yield to maturity).  This could work over the last 30 years BUT it cannot work now.  Check any bank balanced funds you have by asking who you deal with what the YIELD TO MATURITY is on the bond portion of the fund.  You may be surprised (and not in a good way) by the answer.

 

 

*The information contained herein may not apply to all types of investors. Please consult a professional before making an investment decision.

 

 

The views expressed do not necessarily reflect the opinion of Argosy Securities Inc. This does not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors. Please consult a professional before making an investment decision.

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