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OVER THE past two decades companies operating in Canada have found it more and more difficult to provide worthwhile retirement plans to top people. For HR practitioners looking for a competitive edge in attracting and retaining executives and key staff, retirement compensation arrangements (RCAs) that create healthier compensation deals may offer that an edge.
RRSP limitations
In [...]
Recently, a Canadian Institute of Chartered Accountants (CICA) survey identified the emerging trend of CA practices providing succession planning services to their top owner/manager clientele. Currently, 76% of small and medium-sized firms offer succession planning as a competency with another 14% determined to enter this specialized market. The firms participating in this survey identified that [...]
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A retirement compensation arrangement (RCA) is a concept
introduced by Canada’s Department of Finance in an effort to apply some direction over the non-registered pension options made available to employees. It allows a company to make tax-deductible contributions to provide for retirement income beyond current pension contribution restrictions.
Registered pension plans (RPP), individual pension plans (IPP) and [...]
In addition to the typical reasons for utilizing an RCA, there may be other situations where the use of
an RCA may be an appropriate strategy for a business owner. This article examines two of those
opportunities and describes why cash value life insurance may be an appropriate funding vehicle for
the RCA.
Scenario one - Sale of the [...]
As printed in Advisor’s Edge Report, Sept-05.
There may be a variety of tax shelters
available to high income
Canadians, but they don’t fit every
situation. Retirement compensation
arrangements (RCA), for
instance, can use a little more
scrutiny. RCAs are trusts to hold
funds invested to provide a retirement
income. They are complex
structures with a unique tax system
involving a refundable tax.
Much has already been [...]
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“The Essential IPP Handbook”
Over the past three decades businesses operating in Canada have found it difficult to provide
a worthwhile retirement plan for their top people. A Retirement Compensation Arrangement (RCA) is the Income Tax Act’s retirement planning solution for affluent professionals, business owners and corporate executives.
An RCA enables [...]
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Hi
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