Bowie Can Help walk you through the labyrinth of securing your lifestyle and legacy

The Difference Between CIDC (Bank) & Assuris (Insurance) coverages  

The Difference Between CIDC (Bank) & Assuris (Insurance) coverages  

First, we will look at what each of these is, and then we will take a little dive into how they differ.  CIDC (Canada Deposit Insurance Corporation) Is the federal Crown corporation that contributes to the stability of the Canadian financial system by providing deposit insurance against the loss of eligible deposits at member institutions … The Difference Between CIDC (Bank) & Assuris (Insurance) coverages   Read More » ...
What’s the Difference between GIC Maturity and Segregated Fund Maturity?

What’s the Difference between GIC Maturity and Segregated Fund Maturity?

GIC’s & Segregated Funds both have “Maturity Dates/Guarantees”.  When it comes to your investment these Maturity Guarantees mean totally different things which is confusing.  Let’s clear this up. A GIC Maturity refers to the term length of the agreement between the financial institution and the investor’s deposit. For Instance, If an investor purchases a Non-Redeemable … What’s the Difference between GIC Maturity and Segregated Fund Maturity? Read More » ...
Canada Emergency Response Benefit (CERB) & Canada Recovery Benefit (CRB) could result in taxes owing

Canada Emergency Response Benefit (CERB) & Canada Recovery Benefit (CRB) could result in taxes owing

Did you take the CERB or CRB? This could result in taxes owing. Launched in March, the Canada Emergency Response Benefit (CERB) provides $500 per week to workers who lost their jobs or most of their hours. Most employers deduct taxes from the paycheques before mailing them out, but that’s not the case with the … Canada Emergency Response Benefit (CERB) & Canada Recovery Benefit (CRB) could result in taxes owing Read More » ...
Probate, what is it? It’s the Estate Administration Tax now!

Probate, what is it? It’s the Estate Administration Tax now!

Why don’t people like Probate tax in Ontario? Let’s be honest, probate is less about the money and more about it just being a pain for your poor, unsuspecting Executor. The process can be time consuming and frustrating. What is Probate/EAT Tax? Once someone dies, their property and assets become an “Estate”. You don’t have … Probate, what is it? It’s the Estate Administration Tax now! Read More » ...
Insurance GICs vs Bank GICs – Save on Taxes & Have Security with Your GICs?

Insurance GICs vs Bank GICs – Save on Taxes & Have Security with Your GICs?

Not all GICs are created equally. If you are looking for security in investments and are looking at GIC’s you should know that insurance GICs have important, additional benefits. From saving on your taxes when you are a pensioner, to being able to name a beneficiary who will be able to avoid costly probate (now known as the Estate Administration Tax – EAT tax for short, since it eats away at your investments), and more! ...
New 2021 TFSA limit announcement released!

New 2021 TFSA limit announcement released!

With a new year comes a new opportunity to contribute to your TFSA. As of 2020, the maximum possible contribution room was $69,500. 
Each year this contribution room grows; allowing you to tax shelter more of your hard-earned money.   ...
Pension Splitting

Pension Splitting

On paper, you can transfer a portion of your pension to your spouse if they have a lower income to reduce your taxes owing/taxes payable. Every year you can decide based on income if this is something you should do to lower your taxes owing.  ...
Creating Your Own Pension Plan

Creating Your Own Pension Plan

Have you ever thought about how you want to live out your retirement years? Picture your retirement. Visualize where you will be living. Will you stay in your current home or will you downsize? ...
Disability Tax Credit

Disability Tax Credit

Often clients will say, “Hey, I don’t have any disabilities, I am going to move into a Retirement home and enjoy my retirement life there.  I will be able to claim all the expenses in that facility as medical expenses on my tax return anyway.” ...
We think Segregated Funds are Awesome! Here’s Why.

We think Segregated Funds are Awesome! Here’s Why.

Whether your retirement is years away or just around the corner, it’s important to ensure your investments reflect your goals and risk tolerance. ...
Let’s Talk About TFSA’s

Let’s Talk About TFSA’s

When we hear the term Tax-Free Savings Account (TFSA), the first thing that comes to mind is a low- or no-interest account at a bank.  People are surprised to learn that almost every investment option available to their RRSP is also available to them in a TFSA plan.  ...
What Are The Most Common Social Benefit Questions People Ask As They Go Into Retirement?

What Are The Most Common Social Benefit Questions People Ask As They Go Into Retirement?

What Are The Most Common Social Benefit Questions People Ask As They Go Into Retirement?
Q and A with Tracy Sun, our Senior Tax Advisor, and Sarah Bowie, President of Bowie Financial Inc.  ...
Insuring The Kids

Insuring The Kids

No one wants to go through the death of a child but for the benefit of the child, everyone should consider child insurance. There are two ways to do it; a child rider or a stand-alone policy, both with their own benefits to consider. ...
Mortgage Bank Insurance Vs. Term Life Insurance

Mortgage Bank Insurance Vs. Term Life Insurance

Are you a homeowner with a mortgage? If you are you probably have some sort of Mortgage Life Insurance, or maybe you have Term Insurance, or perhaps you have both? Do you actually know what you are paying for? You might not.  Most people don’t know and that’s okay! ...
The Different Kinds of Life Insurance Policies

The Different Kinds of Life Insurance Policies

Life Insurance pays cash to your family or other beneficiary after your death. This will provide them with needed income and final costs. With policies like Whole Life and Universal Life; you can build up cash values (which you can borrow from or use as an investment, guaranteed). ...
Long Term Care Insurance

Long Term Care Insurance

What happens if you live too long? How do you pay for the care you didn't prepare for? ...
Life Insurances, The Break Down – Whole Life, Term, Universal Life, Disability, Critical Illness, Long Term Care, & Child Insurances

Life Insurances, The Break Down – Whole Life, Term, Universal Life, Disability, Critical Illness, Long Term Care, & Child Insurances

So many options when it comes to Life Insurance and Insurances How do you know what to choose? Life insurance comes in many shapes and sizes and finding the right fit for your life can be daunting to say the least. It can be tempting to simply find the least expensive solution and go with that. But like all products, sometimes the least expensive option can end up costing you more in the long run. ...
Critical Illness Insurance Explained

Critical Illness Insurance Explained

Focus on your recovery knowing that you have money to help with your expenses if you’re diagnosed with a serious illness. ...
Disability Insurance Explained

Disability Insurance Explained

Disability insurance works when you can’t. It can give you tax-free monthly income to help pay expenses if an illness or accident stops you from working. ...
Unclaimed Life Insurance

Unclaimed Life Insurance

“Who" do you want to get Your Secret Life Insurance Policy Money? The Life Insurance Company or the Province? Do you know what happens to unclaimed Life Insurance? ...
25+ Estate Documents You Need to Put in One Place

25+ Estate Documents You Need to Put in One Place

An estate binder is where you keep all your important information that a loved one will need when you get seriously injured, can’t speak for yourself, or die.  ...
What The Heck is a Seg Fund?

What The Heck is a Seg Fund?

In today’s economic environment it is important to understand your investment options and alternatives. When looking at investments you need to determine your goals and objectives as an investor.  ...
Decoding Financial Jargon

Decoding Financial Jargon

DOES THIS SOUND FAMILIAR? A colleague is talking to you about the alpha of one of their investments. You nod your head, but your eyes gloss over. The discussion ends and you wonder what you just had a conversation about.    ...
Why Should We Insure Our Kids?

Why Should We Insure Our Kids?

Tom and Sara had three children, two boys and a girl. One of their sons died at the age of five. Nobody wants to imagine a child dying, but unfortunately it sometimes happens. They had to borrow money to pay for the funeral and other last expenses that arose. Now, whenever they make a loan payment, they are reminded of their loss.  ...
How to Get Income Out of Your RRSPs

How to Get Income Out of Your RRSPs

Roger and Linda, like many Canadians, have saved for years for their retirement. They took advantage of RRSPs and now have a substantial amount of savings. As Roger will turn age 71 this year, they need to decide on the best strategy for using their RRSPs for their retirement income needs.  ...
Essential Tax Numbers For 2020

Essential Tax Numbers For 2020

With a new year comes new tax numbers. You really want to take advantage of everything you can in regards to your hard-earned money. The more you can write off against your earnings and the more strategic you can be - means the more you get back, which also means the more likely you will end up potentially in a lower tax bracket paying fewer taxes the following year. ...
Learn All About The Home Accessibility Tax Credit

Learn All About The Home Accessibility Tax Credit

Jennifer is age 70, lives in Ontario and is on disability, she owns a house, but the bathroom is the old school type and needs an upgrade since it’s not very accessible for someone with a disability. Jennifer decided to put in a walk-in bathtub to make her life easier, with installation and everything that ended up costing her $8000. With the Home Accessibility Tax Credit (HATC) she gets to claim the non-refundable tax credits on this tub and installation. ...
How to Achieve Financial Success

How to Achieve Financial Success

How to Achieve Financial Success It is possible for just about everybody to achieve financial success. Getting there is usually not a matter of financial wizardry. By following some basic principles, you can make your financial dreams come true.  Set Objectives Goals setting is the foundation of achieving financial success. If you don’t have a … How to Achieve Financial Success Read More » ...
A Smart Way to Pay Less Tax Using Life Insurance

A Smart Way to Pay Less Tax Using Life Insurance

Ray had thought of his life insurance as purely a protection plan. Taking a holistic approach to his finances prompted him to explore his current life insurance policy for tax deferral options. ...
We Hand-Wrote Our Own Wills

We Hand-Wrote Our Own Wills

Maybe you’ve asked, “Can I write my own will?” We are not lawyers, but here’s what we know... It’s okay to write out a will by hand in many provinces, including Ontario, but all of it must be in your own handwriting. You must also sign it. ...
We Really Do Have Death Taxes!

We Really Do Have Death Taxes!

Do you own property in the U.S.? Do you own property on which you’ve been claiming depreciation? Do you own anything that would produce a capital gain if you sold it? Do you own a business? Do you have an RRSP, RRIF or other registered accounts?   If you answered “yes” to any of these … We Really Do Have Death Taxes! Read More » ...
If Anything Should Happen to Me…

If Anything Should Happen to Me…

While waiting for surgery, Uncle George realized that Aunt Grace might not know about everything that needs to be done if he dies, so he made her this list of things she should do if “anything should happen to me”.   Before you tell anyone – Clean out our safety deposit box and joint bank … If Anything Should Happen to Me Read More » ...

CONTACT BOWIE

TWO LOCATIONS TO SERVE YOU

300 Terry Fox Dr Suite 1000

Kanata, ON K2K 0E3

304 Colonnade Drive

Kemptville, ON K0G 1J0

Monday to Friday: 9:30 AM – 4:00 PM

Due to COVID we are working by appointment only (no walk-ins please).

We offer in-person, phone, and video appointments.

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