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Mind Your Money
Mehul Gandhi
15 episodes
4 months ago
What happens when Canada’s tax system collides with the death of a business owner? In Part 2 of our Death and Taxes series, financial planner Mehul Gandhi shifts from host to guest as wealth advisor Joe Basque leads the conversation. Together, they unpack the “tax bomb” that often awaits successful business owners and their families—and why traditional estate planning falls short. From deemed dispositions to double taxation inside corporations, Mehul explains why wealth built in HoldCos and O...
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Investing
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What happens when Canada’s tax system collides with the death of a business owner? In Part 2 of our Death and Taxes series, financial planner Mehul Gandhi shifts from host to guest as wealth advisor Joe Basque leads the conversation. Together, they unpack the “tax bomb” that often awaits successful business owners and their families—and why traditional estate planning falls short. From deemed dispositions to double taxation inside corporations, Mehul explains why wealth built in HoldCos and O...
Show more...
Investing
Business
Episodes (15/15)
Mind Your Money
Death & Taxes Part 2 - Life Insurance to Create Estate Liquidity
What happens when Canada’s tax system collides with the death of a business owner? In Part 2 of our Death and Taxes series, financial planner Mehul Gandhi shifts from host to guest as wealth advisor Joe Basque leads the conversation. Together, they unpack the “tax bomb” that often awaits successful business owners and their families—and why traditional estate planning falls short. From deemed dispositions to double taxation inside corporations, Mehul explains why wealth built in HoldCos and O...
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4 months ago
1 hour 16 minutes

Mind Your Money
Death & Taxes Part 1 - Interview with the Tax Lawyer
Death and taxes: two certainties—only one comes with a legal strategy. In Part 1 of this two-part series, Mehul Gandhi sits down with Jonathan Wright, corporate and tax lawyer at Ritchie, Kwo, & Wright LLP to unpack the complexities of dying with private company shares in Canada. From triple taxation nightmares to the strategic use of estate freezes, pipelines, and loss carrybacks, this episode lays the groundwork for business owners (and their advisors) to understand what really happens ...
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6 months ago
1 hour 6 minutes

Mind Your Money
Don’t Let the TOSI Tail Wag the Dog: Income Splitting Insights with @CanadaTaxGuy
What’s the deal with TOSI? If you’re a Canadian business owner, understanding the Tax on Split Income (TOSI) rules can save you from unintended tax bills — or even a nasty CRA audit. In this episode we sit down with Mohammed Al-khooly, tax expert, Twitter sensation (@CanadaTaxGuy), and co-founder of Copilot Tax, to dive into the world of income splitting. We unpack how TOSI works, who it applies to, and the common pitfalls that business owners face. Expect to learn: ✅ What income splitt...
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7 months ago
47 minutes

Mind Your Money
Do you Need a Holding Company?
Thinking about setting up a holding company? Before you do, tune in to this episode of Mind Your Money! Host Mehul Gandhi sits down with CPA and founder of Simplify Accounting, Shawn Gander, to break down everything business owners need to know about holding companies—what they are, when you actually need one, and why too many entrepreneurs set them up for the wrong reasons. Sean shares insights on: ✅ How holding companies work and their tax advantages ✅ The #1 reason they’re used for wealth ...
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8 months ago
54 minutes

Mind Your Money
Let's Talk About CPP
Canada's national pension plan, the CPP, is a cornerstone for retirees in Canada. Gaining a deeper understanding of the pension scheme and its recent enhancements is crucial to your retirement. Mehul interviews Aravind Sithamparapillai and Jason Yee for a deep-dive into CPP and the recent enhancements. We hope you enjoy the episode! Show Notes: The CPP Survivor’s pension is calculated based on the deceased person’s CPP retirement pension as if the deceased were age 65 at the time of death (...
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11 months ago
1 hour 2 minutes

Mind Your Money
What Are You Retiring To?
So much of retirement planning is based on retirement income. Something that many advisors do not talk about with their clients is what retirement life is going to look like. Mehul interviews retirement expert, Susan Latremoille, on the non-financial side of retirement and the work she does to make sure individuals spend their retirement feeling enriched and fulfilled. We hope you enjoy the episode! For more information, visit www.westmountwealth.com or contact us at https://www.westmountwe...
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1 year ago
39 minutes

Mind Your Money
Alternative Minimum Tax Matters
The Alternative Minimum Tax (AMT) has gone through some changes in the last two years. Mehul interviews tax accountant, Yvonne Chu of Journey Tax Solutions to find out how the changes to AMT affect Canadians. In this episode, we cover what AMT is, why it was originally introduced, and how it has changed from a calculation that rarely applied to one that must be seriously considered by tax payers. For more information, visit www.westmountwealth.com or contact us at https://www.westmountweal...
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1 year ago
1 hour 13 minutes

Mind Your Money
The Individual Pension Plan: A 'Super-Charged' RRSP?
Individual Pension Plans (IPP) have been described as corporate RRSP's or 'Super-Charged' RRSPs. They are essentially defined benefit plans for private corporations and incorporated professionals. IPPs are not very popular, but recent tax changes are giving these retirement savings vehicles more attention. Mehul interviews Navaz Cassam, President of the Alberta-based actuarial firm, GBL Inc. on all things IPPs. We hope you enjoy the episode! About GBL - Financial Solutions for Business Owne...
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1 year ago
40 minutes

Mind Your Money
Is Real Estate a 'Good' Investment
In major Canadian cities like Vancouver and Toronto, real estate has been seen to be a good investment historically because of growing demand, shrinking supply, low interest rates, and easy access to leverage. Most agree that that many Canadian cities have a housing affordability crisis and have put pressure on governments to intervene. Now, in a high-interest rate environment and new government policies on rent control and tenant rights, investing in Canadian real estate may no longer be app...
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1 year ago
46 minutes

Mind Your Money
The Financial Impact of 'No-Fault' Car Insurance in British Columbia
In British Columbia's 'no-fault' car insurance regime, individuals not at fault in an accident are limited to pre-determined levels of wage loss replacement and medical expense repayment, potentially leading to financial ruin. Mehul interviews Personal Injury and Estate litigation lawyer, Elisabeth Sadowski from Hammerco Lawyers to learn about how no-fault insurance works and what British Columbians can do to prevent financial setbacks if they are in a motor vehicle accident. We hope you enjo...
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1 year ago
38 minutes

Mind Your Money
Changes to the Capital Gains Tax in Canada
The only constant in life is change. The percentage of a capital gain that is included as income in the year the gain is realized is currently 50%. As of June 25, 2024, that inclusion rate will increase to 66.67%. Mehul interviews tax lawyer and partner, Rebecca Cynader from Scion Law about the changes to the capital gains inclusions rate, who it affects, and what Canadian individuals, companies, and trusts need to be aware of. We hope you enjoy the episode! Scion Law Rebecca Cynader | ...
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1 year ago
42 minutes

Mind Your Money
Donor Advised Funds: A Better Way to Give
Large donations have increased over the years in Canada. Mehul interviews Ian Currie, Regional Development Manager of Western Canada for Canada Gives, a registered charity that centralizes the process of giving through donor advised funds (DAF). Mehul and Ian discuss the details and benefits of DAFs and how they can simplify the donation process for wealthy Canadian donors. We hope you enjoy the episode! For more information, visit www.westmountwealth.com or contact us at https://www.westmo...
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1 year ago
46 minutes

Mind Your Money
Planning Your Retirement
The last thing retirees want is to run out of money. Mehul interviews Joey Basque, financial planner at Westmount Wealth Management, about financial planning for retirement. Joey and Mehul start the episode laying out the basics of retirement income planning, and then spend time discussing the crucial parts of a retirement income plan that pre-retirees and retirees need to consider. We hope you enjoy the episode! For more information, visit www.westmountwealth.com or contact us at http...
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1 year ago
1 hour 3 minutes

Mind Your Money
A Consumer's Guide to Critical Illness Insurance
Mehul speaks with Sheila Burns, a director at CLHIA, about their new Critical Illness Insurance Consumer Guide. Critical Illness insurance is is one of the most misunderstood types of insurance in Canada. It is also one of the least talked about by consumers and insurance advisors alike. The Canadian Life and Health Insurance Association (CLHIA), a consumer based association, recently released a consumer guide on critical illness insurance to help Canadian consumers. Sheila starts with explai...
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1 year ago
45 minutes

Mind Your Money
Charitable Donations and Tax Credits
Thousands of individuals and corporations in Canada donate to charities every year. Learn about the tax implications of making charitable donations from Tax lawyer, Amanda Doucette. For more information, visit www.westmountwealth.com or contact us at https://www.westmountwealth.com/contact This podcast episode has been prepared by Mehul Gandhi, CFP®️, CLU®️, TEP an Estate Planning Specialist and Senior Insurance Advisor for Westmount Wealth Planning Inc. Westmount Wealth Planning Inc....
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2 years ago
26 minutes

Mind Your Money
What happens when Canada’s tax system collides with the death of a business owner? In Part 2 of our Death and Taxes series, financial planner Mehul Gandhi shifts from host to guest as wealth advisor Joe Basque leads the conversation. Together, they unpack the “tax bomb” that often awaits successful business owners and their families—and why traditional estate planning falls short. From deemed dispositions to double taxation inside corporations, Mehul explains why wealth built in HoldCos and O...