The Prittie Perspective

The Prittie Perspective

We provide client communication touch points that provides many valued added features and benefits such as  economic and market updates, quarterly newsletters and mature client oriented publications.

The Loonie, Diversity, Market Commentary, and some Sound Financial Advice – Something for Everyone?

By Michael Prittie | 28 December 2022

I will begin by wishing everyone a wonderful new year full of good health and happiness. Let’s focus on what we can control, our own actions, whether individually or together for the betterment of all and to reflect positive outcomes.

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First Home Savings Account & You

By Adam Prittie | 28 December 2022

For those who long to buy their first home, there is some much-needed help coming in 2023. This new registered plan would give prospective first-time home buyers the ability to save up to $40,000 on a tax-free basis, contributing a maximum of $8,000 per year. Like a Registered Retirement Savings…

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Income Annuity – Is it right for you?

By Shawn Ryan | 28 December 2022

You’ve worked hard and saved for your retirement, and you want to protect your income. This forgotten gem has been overlooked for many years due to the past low-interest rate environment.
An income annuity is a financial product that provides you with a guaranteed regular income. Typically, it is used during your retirement years and offered by an annuity provider, such as a life insurance company. When you buy an annuity, the insurance company will pay you, the annuitant, a regular income for a fixed term or the rest of your life, no matter how long you live – so you can expect regular, predictable, and stable income, no matter what happens to your other sources of income or the economy.

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Taxation and You!

By Rumi Prince | 28 December 2022

Although it may seem early, it is never too early to start thinking about the upcoming tax season! We will be sending out a client communication in early February with detailed information on our tax preparation services, but we want to let all clients know that we are once again offering our popular tax preparation services for the 2022 tax year.

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The Pros and Cons of Locking In

By Jean Lamarche | 28 December 2022

The holiday season is upon us, bringing an end to a tumultuous year. 2022 saw inflation reach levels not seen for 40 years, followed by substantial interest rate hikes. From March to December, the Bank of Canada raised its policy rate by a whopping 4.0%, causing some stress for Canadian homeowners, particularly those with variable-rate mortgages. If you have a variable-rate mortgage, these rate hikes may have you thinking about converting (or “locking in”) to a fixed rate, if your lender allows you to do so. Of course, this then commits you to a new mortgage term with your current lender. Let’s look at the potential upsides and downsides of making the switch.

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Panic is never a good strategy

Panic is Never a Good Investment Strategy and Neither is Greed: A Disciplined Approach Helps Navigate Through Volatile Environments

By Michael Prittie | 30 September 2022

Headlines are everywhere; Inflation and the requisite rise in interest rates to calm it. Russian aggression in Ukraine. Covid pandemic fallout and the threat of a recession which is very likely.

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Luxury Taxes

Prescribed Rates & Luxury Taxes – How CRA’s New Regulations May Impact You

By Adam Prittie | 30 September 2022

The impact of rising interest rates is being felt by many Canadians and has resulted in higher costs for all of us in many ways. With the United States Federal Reserve having raised interest rates by another 0.75% in September, The Bank of Canada will be following suit with a rate increase in the near future to protect the dollar from sell-offs in favour of US currency.

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Team Update

Prittie Private Wealth Team Update

By Anka Molon | 30 September 2022

I am excited to provide this written submission to our Fall Prittie Perspective Edition. You will hear more from me in the future as the Senior Manager of Client Services & Practice Management for the Prittie Private Wealth Team.

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Reduce Tax

We All Want To Reduce Taxes – Immediate Finance Arrangement Strategy

By Shawn Ryan | 30 September 2022

Family businesses, high net worth individuals and professionals require distinctive succession and estate planning and this is in greater demand than ever before. However, it is not getting done! Furthermore, in the past 10 years, corporate income splitting and non-active business income restrictions have been imposed resulting in more taxes. Personal tax rates have increased from 46.41% to 53.53% and dividend tax rates have also increased from 31.34% to 47.74%.

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Mortgage Fundamentals

Mortgage Fundamentals for Home Purchases

By Jean Lamarche | 30 September 2022

With interest rates continuing to rise, and housing markets beginning to cool, if you’re considering a home purchase anytime soon, it’s a good idea to revisit some mortgage fundamentals to ensure you’re in the driver’s seat when it’s time to put in an offer. Pre-approvals, home appraisals and financing conditions are three key components to a successful home purchase. So how do they all fit together?

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Admin Corner

The Admin Corner: The Client Request Process – EFT (Electronic Funds Transfer) & Wire Requests

By Natalie Nunn-Métivier | 30 September 2022

Our primary goal is to ensure Electronic Funds Transfers (EFTs) and Wire orders are initiated, executed, and approved in a secure manner while meeting the needs of our clients. We want to ensure that you receive your fund requests when you need it; for example, buying a new car or any other purchase.

Please be reminded of the following process to ensure no delays are encountered for funding requests.

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Market Madness or Economic Reality

Market Madness or Economic Reality?

By Michael Prittie | 3 July 2022

Different people will choose a different answer from the above two choices. Personally, I believe we are long overdue for some Economic Reality. Why is that?

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