Hurry up and wait! It’s that time of the year again…
We understand that many of our clients like to get your taxes done early and avoid that end of April chaos. We know that your accountants would like that too. However, CRA doesn’t make that possible for many of us. Why? Because the information needed to produce some tax slips isn't available until as late as March 31st. Remember, companies and funds must complete year end audits before they can provide the information to us and to you.
The majority of Richardson GMP tax slips will be mailed to clients late February/ early March. However, the deadline for T3 (Statement of Trust Income) and T5013 (Statement of Partnership Income) mailings is not until March 31. Also, if you had any sells, maturities or redemptions in your non-registered accounts, the Trading Disposition Summaries are not mailed until early April. This to make sure that the summaries accurately capture any Return of Capital transactions.
So set your expectations accordingly, and when you get your Tax Slip Checklist from us, make sure you and your accountant wait for all the slips before filing your return. As always, feel free to contact us with any questions.
RRSP and TFSA reminders
The deadline to contribute to your RRSP for the 2016 tax year is Wednesday, March 1, 2017. The maximum contribution amount for 2016 is $25,370, or 18% of earned income in 2015, whichever is the lesser amount. Your Notice of Assessment from CRA will indicate if you have any additional contribution room.
Lorica Quarter End Market Highlights:
Focused Fixed Income
“I don’t want the Presidency. I’m going to help a lot of people with my foundation–and for me, the grass isn’t always greener.”
— Donald Trump, Playboy, March 1990.
A lot can change in 25 years… somewhere along the way Donald Trump changed his mind…
Mawer Quarter End:
President’s Message & Market Overview
You may have heard us say, on more than one occasion, that market volatility and unpredictability are entirely normal. Our experiences over the last 40+ years have certainly reinforced that lesson. Yet even for us, 2016 felt unusual, with significant political game changers occurring such as Brexit and the election of Trump. But such a year serves to remind us that the best approach to investing in this unpredictable and rapidly changing world is to focus on the things we can control.
For those who missed our article in the December newsletter, here it is again…
In the coming days, as per regulatory requirements, you will receive new reports for each account you hold with us. These reports will be provided annually and are separate from and in addition to your statement of account which details your holdings and activity during the period.