Products
Comprehensive Financial Planning in Edmonton
DeHaan Private Wealth is your comprehensive solution for financial planning in Edmonton, AB. We offer a wide array of retirement plans, savings accounts, investment products, and insurance solutions, partnering with over 100 financial companies.
Committed to personalized service, we ensure the best product selection at competitive low fees.
With so many different places to put your money, knowing which is the right one for you can be confusing. Take the time to learn what is right for you.
Frequently asked questions
- 01
Eligibility: Provided that a taxpayer has earned income there is no minimum age to open an RRSP.
Benefits: Contributions into the RRSP plan provide tax deductions on your current year taxes. The investments grow on a tax deferred basis until you redeem the funds, usually (but not always) in retirement.
- 02
Eligibility: Those in a common law relationship or legally married.
Benefits: The higher income earner can make a contribution in their partner's name and claim the contribution as a deduction. This can be a good way to reduce your overall family tax bill. (Though this changes ownership of the money for tax purposes, it does not affect ownership in a family property sense- in the case of separation or divorce).
Important Tax Rule: When redeeming from a Spousal RRSP you need to be aware of the attribution rules. These state that redemptions will be attributed back to the contributor as taxable income, if the contributions were made in the year of withdrawal or either of the two previous calendar years.
- 03
Group plans are designed to attract new employees and help retain existing employees for your business. Employees makes a contribution and the employer can make a flexible matching contribution for the employee If you’re a business owner we can set up the entire plan for you.
Group Deferred Profit Sharing Plans: This a great way to develop loyal employees AND retain them. Talk to us to see which is right for your small business.
- 04
By the end of the year you turn 71 you have to transfer your RRSPs into a RRIF. Each year afterwards you must then redeem a minimum amount out of your account and can no longer make contributions into the plan. When to remove money from your RIF is an important tax decision and needs to be considered on an individual basis.
- 05
When you leave an employer you might get an option to convert your pension into a LIRA. We can discuss your options and set up a LIRA for you.
- 06
Eligibility: Canadian residents who have attained age 18 can open up a TFSA.
Withdrawals: Withdrawals and investment growth is completely tax free (few exceptions to this rule).
Contributions: Even though contributions made to a TFSA are not tax deductible, they are one of the most valuable ways to reduce lifetime taxes.
Unlike an RRSP, TFSA room is reset after a withdrawal in the next calendar year – money can be carefully recontributed to avoid penalties.
- 07
Eligibility: Must be a resident of Canada, at least 18 years of age and not turning 72 or older. Also, you and your spouse/common-law partner must not have owned a qualifying home that you lived in as your principal residence and at any point in the calendar year in which the account is opened (or in the previous 4 calendar years).
Contribution Room: The lifetime contribution limit is $40,000, and an annual contribution limit of $8,000 a year. You can carry forward up to $8,000 of your unused room to use in the future.
Deduction: Contributions made into this plan are tax deductible. So you can claim them as deductions against all sources of taxable income.
Growth: Investment growth earned while inside the account grows tax-free.
Redemptions: Qualifying redemptions to buy a qualifying home are tax-free and you do not need to repay the amount back. A non-qualifying redemption would be taxable income.
Closing the Account: The account must be closed by December 31 of the year you turn 71, by December 31 of the 15th anniversary of first opening the account, or by December 31 of the year following the year of the qualifying redemption.
- 08
Benefits: Canada Education Savings Grant (CESG) can be paid to your child for their education. The maximum CESG that can be paid on behalf of an individual beneficiary (the child) is $7,200.
- 09
This type of plan is designed to help families provide financial security of their loved ones who have a disability. Contact us for more information on how these plans work. Very generous grant money is available.
- 10
If you have maximized your contributions to beneficial registered accounts, you may open a non-registered account. It is very important to select your investments carefully in these types of accounts. Tax treatment varies based on the type of investment income generated within the account.
- 11
If you have built up money in your company account that you want to invest we can offer these types of investment account for your corporate money.
- 12
Exchange Traded Funds (ETFs)
Index Funds
Mutual Funds
Segregated Funds
Guaranteed Investment Certificates (GICs)
Extremely wide range product offerings, including those offered by over 100 different financial providers, including all the big banks, and the ability to choose the best from each of them, all in one client account. The choices we make are completely unbiased and made in your best interests exclusively!
