welcome! individual pension plans canada revenue agency’s best kept secret!
Post on 22-Dec-2015
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TRANSCRIPT
WELCOME!
Individual Pension Plans
Canada Revenue Agency’s
Best Kept Secret!
WEBCAST BENEFIT:Answers 3 Questions
How can I guarantee my retirement income?
How can I reduce taxes?
How can I protect my assets from potential creditors?
WHAT IS AN IPP?
A defined benefit pension plan guaranteeing a monthly income at retirement
Transfer of corporate assets to personal assets in tax efficient manner
Provides maximum creditor protection
IDEAL CANDIDATE
Incorporated Business Owner or Professional over the age of 45
T4 earnings >= $100k per year
Desires to maximize retirement income
Interested in maximizing tax relief
Desires to unlock corporate earnings
BENEFIT:Maximum Pension
Provides the maximum annual “defined” pension benefit allowable
Indexed to increase with inflation
Terminal funding allows for enhancement of benefits
BENEFIT:Enhanced Contributions
Up to 60% more tax deductible contributions are allowable in the IPP vs. RRSP’s
Contributions entirely funded by the corporation and fully tax deductible as a qualifying business expense
Possible “terminal funding” allows a significant tax deductible contribution from the sale or wind up of business
BENEFIT:Maximum Tax Relief
All costs of the plan are 100% tax deductible by the corporation
Initial Tax Deductible Funding to catch up eligible “past service” from 1991
Contributions are exempt from Ontario Employer Health Tax of 1.95%
IPP vs RRSP Contributions
$0
$30,000
$60,000
$90,000
$120,000
$150,000
$180,000
$210,000
35 40 45 50 55 60 65
Ages of Individuals Acquiring IPPs in 2005
Max.
Co
ntr
ibu
tio
ns
IPP Past Service
IPP Current Service
RRSP
BENEFIT:Creditor Protection
Provides Maximum Creditor protection
100% bullet-proofing of plan assets as per CRA “locking in rules” under pension legislation
Secures assets for retirement
IPP BENEFITS:Answers 3 Questions
An IPP can guarantee your retirement income!
An IPP can reduce your taxes!
An IPP can protect your assets from potential creditors!
IPP Info Kit
FREE OFFER
Free IPP kit Free, no obligation consultation Call: Peter Gillen @ (519) 966-0101
E-mail: [email protected] For more info visit www.petergillen.ca