The Good, The Bad, and Everything Between: Federal Budget Insights from Marvin J. Schmidt
 

Hear from our Founder, Principal and Senior Wealth Advisor, Marvin Schmidt, on the impacts of the federal budget announcement in a recent interview with Canadian Family Offices!
 

The article delves into the perspectives of leading family office advisors across Canada shedding light on the good, the so-so, and the challenging aspects of the budget changes, focusing on those that disproportionately affect ultra-high net worth families.
 

The article covers the following items in detail:
 

The Good News: Marvin highlights positive shifts in the Alternative Minimum Tax for charitable donations, offering relief for both donors and charities alike.

The So-So News: The Super Exemption for share transfers to Employee Ownership Trusts and the Canadian Entrepreneurs’ Incentive spark nuanced viewpoints, addressing potential benefits and concerns for business owners.

The Bad News: Marvin passionately discusses the implications of the increased capital gains inclusion rate, emphasizing its potential deterrent effects on business investment and innovation in Canada.

Final Thoughts: Marvin calls for simpler tax systems and strategic incentives to foster economic growth and innovation, echoing sentiments shared by many ultra-high net worth families navigating these changes.
 

We're committed to providing holistic wealth management solutions tailored to the evolving needs of our clients. Stay tuned for more insights and strategies to navigate the ever-changing financial landscape.

 

Read the full article here.