Halifax Tax Planning
A successful financial plan that minimizes how much you pay in taxes is often referred to as tax efficient. It is an essential component of a comprehensive wealth management strategy. It requires an understanding of how different taxation rules work and how to utilize them. The goal is to maximize retirement savings and protect personal assets. A Toronto income tax planning tax planning halifax lawyer is often needed to guide individuals through this process. Some examples of tax efficient techniques are spousal RRSP contributions and private pension plans. However, you should always consult an expert before implementing any technique.
Halifax residents are encouraged to contact a professional tax advisor for personalized advice about their specific situation. Those with complex or unique circumstances may require a thorough, in-depth analysis to maximize their tax refunds. A good tax planner is a valuable resource for any individual or family, regardless of their financial status or needs.
During Tuesday’s meeting, Selectmen also held a public “street acceptance” hearing for two roads in the development, off Walnut Street. These types of road constructions are a two-step process: the Selectmen must accept them as town roads and then voters at Town Meeting must approve funding for them to ensure that the town takes responsibility for maintaining them. The developer typically comes before the board to discuss any questions.
The other big item was a warrant article on a meals tax for this May’s Annual Town Meeting, with the hope that voters will pass it and the board will be able to implement it in the fall. Selectmen are urging FinCom members to take up the matter at their next meeting and begin working out the details of the tax, including where the revenue would go.
As for the other $2.3 million in this year’s county revenue windfall, the supervisors voted to funnel it into the Personal Property Tax Relief program, which pays 21.5 percent of vehicle taxes. That increase is meant to help offset a surge in the book values of cars and trucks that resulted in a sharply higher county collection total this year.
Rob is one of Atlantic Canada’s most seasoned cross-border and transactional tax specialists with over 25 years of Canadian, US and international tax experience. He has completed the Canadian Institute of Chartered Accountants In-Depth Tax Course and is a regular speaker on income tax topics. He is a former member of the Canadian Tax Foundation Board of Governors and a frequent contributor to tax journals. He lives in Cow Bay with his wife and sons.