FEDERAL BUDGET 2015
The federal budget was released on April 23, 2015. There were two major measures in that budget that might apply to you regarding your financial and investment plans.
The first is an increase in the annual contribution limit for Tax-Free Savings Accounts (TFSAs) to $10,000 per person (age 18 and over). This is fantastic news for many of you as we know that it adds up. As of 2015 a husband and wife have a combined eligible contribution room of $73,000. With a near double in the contribution room, this is going to get a whole lot better!
The second significant measure for us is a REDUCTION in the minimum amount someone is forced to withdraw from their RRIF when age 71 and older. For people looking to delay withdrawing from their RRSP/RRIF this is very good news. For those that wish to withdraw amounts more than the minimum, they still can and there’s no change. There is also no change in the minimum calculation for people who have converted from an RRSP to a RRIF early and are still under age 71.
Remember that this budget has not yet passed and there will be no actual changes until the budget is passed and has received royal ascent.
There were a few more provisions that may apply to a few of you, and if it does and you would like more information, please feel free to get in touch with me anytime. These measures include an increase to the small business tax rate on non-eligible dividends, increases to the lifetime Capital Gains Exemption for farmers and fishers, changes to RDSPs, and changes on donating proceeds of sale of private company shares and real estate.
Again, nothing will be effective until the budget has passed and received royal ascent. Please call or email if you would like any clarification.
VALUE PARTNERS INVESTMENTS: QUARTERLY YEAR IN REVIEW
We believe it’s important for our investors to be informed about the decisions being made by the portfolio managers of your funds. In this effort of increased transparency, Value Partners Investments has compiled a series of year-in-review presentations to summarize the activity and changes that have taken place over the most recent 12-month period.
The following link will safely take you to the Value Partners website. Choose a pool you wish to see, then clickin "Year in Review."
VALUE INVESTING WORKS: WHY ISN’T IT MORE POPULAR?
The link below will bring you to a short article from the Globe & Mail that outlines what Absolute Value investing is, and that it works! This is exactly the investment strategy employed by the Value Partners Investments pools managed by Vito Maida of Patient Capital Management.
WHAT YOU OWN AND WHY YOU OWN IT
At Signature Financial Security we believe it’s important for our investors to learn more about the companies that their money is being invested in. In this effort of increased transparency, Value Partners Investments has compiled a series of videos featuring specific companies that are held in their pools. The following link will safely bring you to the video library on the Value Partners website where you can choose a company to learn more about.
A GUEST LECTURE AT WESTERN UNIVERSITY
There are only two academic programs in the world that teach the principles of Value Investing first laid out by Benjamin Graham.
One of them is the Benjamin Graham Centre for Value Investing at the Richard Ivey School of Business, in London, Ontario.
Earlier this year the Ben Graham Centre invited Vito Maida to guest lecture the students on putting Absolute Value Investing into practice. Vito is the Portfolio Manager on the Value Partners Investments 'Value Pool,' ‘Income Pool’ and ‘Foreign Equity Pool.’
That lecture was recorded and the following link will take you to the Ben Graham Centre web page, and you can watch Vito’s presentation.
I know you won't all get through the entire presentation, but do try to take in the first 20-25 minutes. Remember that you can always watch it in pieces, and I really encourage you to do so. Vito speaks to the students using very clear language and a methodology that is completely intuitive and is free of academic mumbo-jumbo.