Canadians Unaware Of Investment Income Tax Implications


    Many Canadians are unaware of the tax implications of investment income or how capital gains and dividend income are taxed, says a survey by BMO Nesbitt Burns..  It shows only one in five Canadians understand the tax implications of transferring wealth following the loss of a loved one. John Waters, vice-president and head of tax, estate, and trust expertise in the wealth group at BMO Nesbitt Burns, suggests advisors direct clients to educational resources, calculators, and online tools, as well as taking the opportunity to ensure their clients’ investment and tax goals are aligned and that clients understand the strategies for minimizing capital gains.