At Harlow Financial we are licensed insurance professionals and shop for your best coverage and rates. We save you money, time, and don’t bill you; just as your mortgage broker works on your behalf.
A colleague of mine (Canada Life VP) recently was asked by his 8 year old… “Daddy if you die will we loose our house?” This had happened to one of her friends at school because the lender cover ...
In the summer of 2010 B.C. will implement the 12% Harmonized Sales Tax (HST). In regards to real estate this means a partial rebate of the provincial portion of the HST for new housing to ensure that purchases of new homes up to $400,000 bear no more tax than under the current PST system. Homes above $400,000 will receive a flat rebate of $20,000. For mortga ...
Critical Illness Insurance for your mortgage. This lump sum payout can cost you nothing if purchased corectly. In the event of a Critical lllness the unpleasant reality is far too many people loose their homes or deplete retirement plans. Your chance of a critical illness is 1in 2.5, your chance of a second ...
Having your own life insurance policy for your mortgage and declining the lender coverage gives you important options. The lender slips in a piece of paper with a few medical questions and you are covered, right? WRONG! They are covering themselves NOT YOU! I think this should be outlawed. The regulators are working in it. If you become ...
Your biggest asset is your ability to earn an income. Your next largest is likely your home. With your chance of a Critical Illness being 1:2.3, don't loose both.
Having a lump sum to cushion your recovery,so you can focus on your health without jeopardizing your wealth.
Lender Mortgage Critical Illness will just pay your mortgage. Personal coverage with Har ...
Perhaps the most exciting personal tax measure for many Canadians will be the introduction of the
new temporary (after January 27, 2009 and before February 1, 2010) Home Renovation Tax Credit
(HRTC).
According to the government, the purpose of the new HRTC is to “stimulate economic growth and encourage Canadians to invest in improvements to their homes.”
For 2009 only, individuals will be ab ...
Consider a debt-swap strategy - If you’ve got a mortgage but also have non-registered mutual fund, why not consider selling your mutual funds, paying off your mortgage and then borrowing back the money through a secured line of credit to buy back those original funds. By doing so, you can make otherwise non-deductible mortgage interest tax deductible. This strategy was just endorsed by Supre ...
At Harlow Financial, real estate is a top investing tool. Need a down payment for your principal residence, additional properties? Use your TFSA (tax free savings account) option as part of your employee share purchase plans. The more aggressive growth you gain without paying tax gives you more useable cash for real estate. Need investment ideas and or mortgage insurance. I am Siobhan Harl ...
As tax season is coming up, I've had a few clients me about how income taxes are calculated with investment rental properties. As with the current economy this could be a great investment.
It's actually a pretty basic calculation, with your total NET rental income added to your regular income throughout the year. The basic formula works out like this:
Total Rental Income - Expenses = Net Re ...
A question that I’m asked quite a lot is whether it is preferable to contribute to an RSP, or pay down the mortgage.
The general rule of thumb is that as the mortgage interest increases, or as the investment time horizon decreases, it becomes more attractive to prepay the mortgage.There are normally 3 options that people see as alternatives:
Payin ...