For individuals accustomed to higher earnings transitioning into retirement, the Old Age Security (OAS) pension may introduce an unexpected element to financial planning: the recovery tax. Here's how it plays out and strategies for managing it as you start receiving…
In this blog post, we explore the foundational aspects of Old Age Security (OAS) and Guaranteed Income Supplement (GIS) programs, and how trust income can impact these benefits for your elderly parents. Although we often get seniors who are disappointed…
Transitioning into retirement requires not just emotional readiness but also a well-thought-out income plan, informed by a deep understanding of taxation in this phase of life. As a tax professional with expertise in trust and estate planning, I emphasize the…