Invest in MATCO Funds Today

There is a Chinese proverb that states “the best time to plant a tree was 20 years ago. The second-best time is now”. The same is true for tax and financial planning, the best time to plan was in the past – but it is never too late to structure yourself correctly to keep as much of your income in your pocket rather than sending it to the Canadian government.

As we roll into the fourth quarter of 2021, we can expect the leaves to change, snow to fall, and excitement to build for Halloween and Christmas. At Matco, we have talked with many clients and prospects about maximizing the benefit from your RRSP in the 2021 tax season. There is still a significant amount of time to make the contribution to take advantage of the tax savings, but it is never too early to start planning.

We have recently launched a tool on our website which takes an individual’s total income for 2021 and allows you to play with different contribution amounts. The tool then provides expected tax savings. The tool can be found here:

RRSP Tax Savings Tool

One reason for bringing up this topic now is the option of moving money out of your Tax-Free Savings account (TFSA) to fund an RRSP contribution. One rule with TFSA’s is that if you withdraw money in a calendar year you are unable to replace that amount until January 1st of the following year. This means that if you were to pull $10,000 from your TFSA on January 2nd of 2021 you would have to wait 364 days to replace it in your TFSA on January 1st, 2022. On the other hand, if you were to pull money out on December 31st, 2021, you could replace it the next day on January 1st, 2022. As we approach the end of the year with greater certainty of one's 2021 income, there may be an opportunity to shift money between investment accounts to receive a refund on your 2021 tax return. Many clients end up replacing the money they took from their TFSA with this refund increasing their total wealth picture.

These calculations are individualized to your personal circumstance and should be discussed with your Portfolio Manager at Matco. We can help work through the numbers to maximize the “bang for your buck”.

Please reach out to me to discuss further or call the office to learn more about us or to book a meeting with one of our portfolio managers.

Click here to email Tom   Buy our MATCO Funds today 

Tom Stachiw, CIM
Portfolio Manager
Local: +1-403-718-7792

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Founded in 2006 to manage and service seven family offices, today Matco offers the benefits of our extensive investment management experience to individual investors, foundations, endowments, condominium corporations, trusts, corporations and not-for-profit organizations.

Our mission is to simplify the investment world for our clients by understanding their needs and providing exceptional investment solutions that preserve and grow capital.

 Matco Financial is an independent, privately held discretionary investment counsellor and asset management firm that serves the needs of individual investors, institutions, advisors, trusts, corporations and not-for-profit organizations. Matco provides investment advisory services to investors on a discretionary basis through mutual funds and separately managed accounts. This communication is intended for information purposes only and does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Matco Financial Inc. makes no representations as to the accuracy or any other aspect of information contained in other websites. All statements that look forward in time or include anything other than historical information are subject to risks and uncertainties and are not guarantees of future performance. Investors should not rely on forward-looking statements. Actual results, actions or events, could differ materially from those set forth in the forward-looking statements.

For more information please visit www.matcofinancialinc.com
 MATCO Financial Inc. ©2021 All Rights Reserved.
Our mailing address is:
350, 440 – 2nd Ave SW,
Calgary, Alberta T2P 5E9
Phone: 403.539.5740