Georgian Bay

As the new Chairman of the Georgian Bay Chapter of CARP I would like to extend my Best Wishes for a Happy Holiday Season to all CARP members residing in the Georgian Bay Area. Early in the New Year we will start issuing regular bulletins to inform you of our Chapter’s plans and events for 2011 which will include, our … Read more

Well, Elvis won’t be in Hollywood this summer, but you might see him in Collingwood! CARP will have a booth at the annual Collingwood Elvis Festival again this year, Friday to Sunday; July 23, 24 and 25. We’re looking for local Georgian Bay Chapter members and general CARP members to volunteer to help the booth, working two hour shifts with … Read more

Capital market turmoil is melting away lifetime savings and pension solvency. The situation is getting desperate. Seniors in their sixties and seventies are worried that they will run out of money and those who have the option are looking part time work. Many Canadians for the very first time are contacting federal and provincial politicians at all levels demanding greater … Read more

Dear Ms. Guergis: I cannot believe the offhanded way your government addressed the concerns of seniors relating to the dismal stock market performance and your governments position relating to RRIFs. Surely this Seniors’ concern ranks a much higher position in priorities than simply being addressed? Perhaps your party’s memory banks have lapsed regarding the demographics of the Senior’s ranks and … Read more

The Honourable Bruce Stanton Simcoe North MP December 7, 2008 Dear Sir: We as seniors / retirees, are forced to sit back and watch as our savings continue to erode despite the fact we have been prudent in managing our financial affairs. Parliamentary members need to understand that, although lessening the requirement for liquidating RIFF assets during this depressed market … Read more

Collingwood April 1, 2008: Hon Helena Guergis, MP Simcoe-Grey Minister/Secretary of State, Foreign Affairs and International Trade (Sport) met with delegates of the Common Front for Retirement Security (CFRS) in Collingwood, March 25, 2008. The CFRS represents over 2 million Canadians (22 organizations), see www.RetirementSecurity.ca The delegates presented Hon Minister with three priorities: 1. Pension Act reform 2. Capital Market … Read more

Most popular legislation of 2007 erased from history? In their tax review of 2007, mainstream media highlighted Prime Minister Harper’s two percent GST cut, the ½ percent in basic tax, raising the basic untaxed amount to $9,600, a new $2,000 child tax credit, the business tax reduction and more. For some unknown reason, however, they missed pension splitting Maybe because … Read more

Pension Income Splitting (excerpt from Federal Government release, Aug 20, 2007) Pension income splitting will begin in the 2007 taxation year. Canadian residents will generally be able to allocate up to one-half of their income that qualifies for the existing pension income tax credit to their resident spouse (or common-law partner) for income tax purposes. For income tax purposes, the … Read more

From Canada Revenue Agency http://www.cra-arc.gc.ca/agency/budget/2007/pension-e.html Q.1 What is pension income splitting? A.1 Beginning with 2007 income tax returns, Canadian residents will generally be able to allocate up to one-half of their income that qualifies for the existing pension income tax credit to their resident spouse (or common-law partner) for income tax purposes. The amount allocated is deducted in determining the … Read more

The collaboration has paid off and Pension splitting Received Royal Assent on June 22. Is there anything else we should be doing? Remember the reduction of general income tax that Finance Minister Ralph Goodale approved in 2005…? It was reversed by Minister Flaherty in 2006. The Liberals have never endorsed pension splitting. We cannot afford the risk of reversal, in … Read more