Mind Your Money

In this episode of Mind Your Money , Mehul sits down with his longtime friend Howard Ma —Director at Baker Tilly Canada Capital and CFA charterholder—to unpack what really happens behind the scenes when a business owner decides to sell. Howard shares a clear, investor-minded look at what makes a company “sale-ready” (and what quietly drags value down). They dig into the most common issues he sees...

What does it take to build a family enterprise that thrives not just for one generation—but for many to come? In this powerful episode, Mehul Gandhi sits down with Julia Chung , co-founder of Spring Plans and one of Canada’s leading voices in legacy and complex family systems planning. Together, they explore what it means to become a 100-year family —shifting from short-term financial planning to...

What happens when Canada’s tax system collides with the death of a business owner? In Part 2 of our Death and Taxes series, financial planner Mehul Gandhi shifts from host to guest as wealth advisor Joe Basque leads the conversation. Together, they unpack the “tax bomb” that often awaits successful business owners and their families—and why traditional estate planning falls short. From deemed disp...

Death and taxes: two certainties—only one comes with a legal strategy. In Part 1 of this two-part series, Mehul Gandhi sits down with Jonathan Wright, corporate and tax lawyer at Ritchie, Kwo, & Wright LLP to unpack the complexities of dying with private company shares in Canada. From triple taxation nightmares to the strategic use of estate freezes, pipelines, and loss carrybacks, this episod...

What’s the deal with TOSI ? If you’re a Canadian business owner, understanding the Tax on Split Income (TOSI) rules can save you from unintended tax bills — or even a nasty CRA audit. In this episode we sit down with Mohammed Al-khooly , tax expert, Twitter sensation (@CanadaTaxGuy), and co-founder of Copilot Tax , to dive into the world of income splitting . We unpack how TOSI works, who it appli...

Thinking about setting up a holding company? Before you do, tune in to this episode of Mind Your Money ! Host Mehul Gandhi sits down with CPA and founder of Simplify Accounting, Shawn Gander , to break down everything business owners need to know about holding companies—what they are, when you actually need one, and why too many entrepreneurs set them up for the wrong reasons. Sean shares insights...

Canada's national pension plan, the CPP, is a cornerstone for retirees in Canada. Gaining a deeper understanding of the pension scheme and its recent enhancements is crucial to your retirement. Mehul interviews Aravind Sithamparapillai and Jason Yee for a deep-dive into CPP and the recent enhancements. We hope you enjoy the episode! Show Notes: The CPP Survivor’s pension is calculated based o...

So much of retirement planning is based on retirement income. Something that many advisors do not talk about with their clients is what retirement life is going to look like. Mehul interviews retirement expert, Susan Latremoille, on the non-financial side of retirement and the work she does to make sure individuals spend their retirement feeling enriched and fulfilled. We hope you enjoy the episod...

The Alternative Minimum Tax (AMT) has gone through some changes in the last two years. Mehul interviews tax accountant, Yvonne Chu of Journey Tax Solutions to find out how the changes to AMT affect Canadians. In this episode, we cover what AMT is, why it was originally introduced, and how it has changed from a calculation that rarely applied to one that must be seriously considered by tax payers....

Individual Pension Plans (IPP) have been described as corporate RRSP's or 'Super-Charged' RRSPs. They are essentially defined benefit plans for private corporations and incorporated professionals. IPPs are not very popular, but recent tax changes are giving these retirement savings vehicles more attention. Mehul interviews Navaz Cassam, President of the Alberta-based actuarial firm,...

In major Canadian cities like Vancouver and Toronto, real estate has been seen to be a good investment historically because of growing demand, shrinking supply, low interest rates, and easy access to leverage. Most agree that that many Canadian cities have a housing affordability crisis and have put pressure on governments to intervene. Now, in a high-interest rate environment and new government p...

In British Columbia's 'no-fault' car insurance regime, individuals not at fault in an accident are limited to pre-determined levels of wage loss replacement and medical expense repayment, potentially leading to financial ruin. Mehul interviews Personal Injury and Estate litigation lawyer, Elisabeth Sadowski from Hammerco Lawyers to learn about how no-fault insurance works and what B...

The only constant in life is change. The percentage of a capital gain that is included as income in the year the gain is realized is currently 50%. As of June 25, 2024, that inclusion rate will increase to 66.67%. Mehul interviews tax lawyer and partner, Rebecca Cynader from Scion Law about the changes to the capital gains inclusions rate, who it affects, and what Canadian individuals, companies,...

Large donations have increased over the years in Canada. Mehul interviews Ian Currie, Regional Development Manager of Western Canada for Canada Gives, a registered charity that centralizes the process of giving through donor advised funds (DAF). Mehul and Ian discuss the details and benefits of DAFs and how they can simplify the donation process for wealthy Canadian donors. We hope you enjoy the e...

The last thing retirees want is to run out of money. Mehul interviews Joey Basque, financial planner at Westmount Wealth Management, about financial planning for retirement. Joey and Mehul start the episode laying out the basics of retirement income planning, and then spend time discussing the crucial parts of a retirement income plan that pre-retirees and retirees need to consider. We hope you en...

Mehul speaks with Sheila Burns, a director at CLHIA, about their new Critical Illness Insurance Consumer Guide. Critical Illness insurance is is one of the most misunderstood types of insurance in Canada. It is also one of the least talked about by consumers and insurance advisors alike. The Canadian Life and Health Insurance Association (CLHIA), a consumer based association, recently released a c...

Thousands of individuals and corporations in Canada donate to charities every year. Learn about the tax implications of making charitable donations from Tax lawyer, Amanda Doucette.   For more information, visit www.westmountwealth.com or contact us at https://www.westmountwealth.com/contact This podcast episode has been prepared by Mehul Gandhi, CFP®️, CLU®️, TEP an Estate Planning Specialist and...