Serving Burlington, Oakville & Surrounding Areas
REDUCE TAXES – MAXIMIZE INCOME – INVEST SMARTER – PRESERVE WEALTH
When retirement income planning, a key feature is paying as little tax as possible. The following is a listing of some of the key tax credits and benefits for seniors.
✓ you are receiving an Old Age Security pension; and
✓ your annual income (or in the case of a couple, your combined income) is lower than the maximum annual threshold.
✓ If you receive the guaranteed income supplement or allowance benefits under the old age security program, you can renew your benefit by filing your return by April 30. If you choose not to file a return, you will have to complete a renewal form.
This form is available from Service Canada
Be sure to review with your accountant and financial advisor to make sure you are taking advantage of those credits that apply to you.
This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see me for individual financial advice based on your personal circumstances. Insurance products and services are provided through Assante Estate and Insurance Services. Inc.
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