February 2016

There has been a lot of talk about the state of the markets in the news as of late, along with many changes to taxation laws and Pharmacare news that could affect you. On top of the industry’s news, we’ve also had some recent changes to the office that we would like you to know about.

After 5 years of hosting the YMCA’s Regional Development Centre, they will be moving to the YMCA of Greater Halifax/Dartmouth ahead of the construction of the new YMCA facility on South Park Street. While we are sad to see them go, it has opened the door to welcoming new strategic partners to Trinity Wealth over the coming months.

On that note, we are pleased to announce that we’ve been joined by a new advisor, Lorna Maughan. Lorna moved to Nova Scotia from Bristol, England in 2015 and has over 25 years of experience in financial planning, specializing in pensions and investments in the UK. Whether advising corporate or personal clients Lorna has always prided herself on providing holistic financial planning based on risk tolerance and portfolio management. She is very excited to have joined the team at Trinity and she is very keen use all her skills gained from the UK here in Nova Scotia. Welcome, Lorna!

New advisors in our office are an excellent opportunity for everyone here to share ideas, stimulate discussion on both investment and insurance product and planning strategies, and has thus far proven to increase the collective financial planning knowledge we at Trinity Wealth Partners have to offer our clients. While each advisor keeps their own business and clients separate from the others (including client files and account access), we have the distinct advantage of a financial think-tank with input from advisors coming from a range of specialties. Lorna’s featured article this quarter addresses the complexity of transferring your overseas pension to Canada and the considerations that should be given due to the unique features of UK pension plans.

It’s usually around this time of year that we hear from many of you regarding topping up one or both of your RRSPs or TFSAs. Patricia has some good advice in this edition about more effective means to make your RRSP contributions more manageable. This year we’ve also been fielding questions about the state of the markets and the Canadian dollar. For Rick’s thoughts on the markets, see the next page.

2016 is shaping up to be a year of legislation changes both federally and provincially. We’ve covered the impending/potential taxation changes in more detail in this edition of our newsletter along with the halt on changes to the cost of Nova Scotia’s Pharmacare program for seniors.

If you’d like more information on any of these topics please be in touch!


Articles:

Commentary on Recent Volatility

Posted 22 Jan 2016 by Rick Irwin, CFP, CLU

I think we can all agree that 2016 hasn’t started off on the best foot investment-wise. But unless you had your entire portfolio in energy stocks, the situation isn’t quite as bad as Rick Mercer suggests here.

Although the headlines...

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How Taxation Changes Will Affect Canadians

Posted 12 Feb 2016 by Rick Irwin, CFP, CLU

There is an old saying that the new broom always sweeps clean. This is certainly true in politics. Last year Trudeau’s Liberals won a decisive victory and promised sweeping changes for Canadians, including in their tax policy.  Here is a...

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N.S. Pharmacare Changes Halted

Posted 19 Feb 2016 by Melissa Allan

Pharmacare is a program offered by the province of Nova Scotia that allows both seniors and families access to a drug care program at an affordable price. The provincial government was set to increase premiums April 1st but backed down...

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How NOT to Offset Capital Gains

Courtesy of Tim Cestnick, Dynamic Funds

Capital gains triggered from the sale of non-registered securities like mutual funds or stocks can sometimes take investors by surprise if they don’t understand the tax implications of selling these securities. Other times, the planning that went into offsetting these...

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Transferring Overseas Pensions

Posted 22 Feb 2016 by Lorna Maughan

When moving to Canada from the UK I am sure the last thing on your mind is “what should I do with my UK Pension Plans?” Hopefully some of the information below will prove useful and informative.

When I first...

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Scrounging for an RRSP Contribution?

Posted 15 Feb 2016 by Patricia Bell, PFP

The phrase “RRSP season” should be familiar to many of us – the scramble to top-up your RRSP before the deadline in order to either reduce your tax bill or increase your refund. Well, it’s that time of year again....

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