Welcome to our 2022 Spring newsletter.
And it looks like spring may actually be arriving. After multiple Colorado Low weather systems and significant flooding, is golf and camping and gardening and barbequing weather finally here?
May marks the beginning of the summer festival season so be sure to check your favorite event website to make sure you're not missing out. Here's links to a few of ours, depending on where we find ourselves.
Travel Manitoba | Destination Ontario | Tourism Saskatchewan | Travel Alberta | BC Tourism
The tourism industry has been devastated by the pandemic and operators are looking forward to a time of recovery. Did you know you can be a "tourist in your own town" by visiting a local event or attraction that you've never explored before?
Mother's Day fell on May 8th this year. If you forgot, it's not too late. You could find a unique, one of kind piece designed by our very creative Social Media Marketing specialist, Carly Kliewer, on her custom jewelry website, Caged Designs.
Victoria Day falls on May 23rd this year and we are so looking forward to celebrating the long weekend carefully but without restrictions for the first time in two years.
The team's favorite picture for this quarter is a perennial favorite in backyards across Canada. The perky little Chipping Sparrow is often fairly tame, especially if you have a backyard birdfeeder. The pale face, black line through the eyes, bright rusty crown and a fairly long tail are all marks you can use to identify it. Male Chipping Sparrows sing a long, dry trill of evenly spaced, almost mechanical-sounding chips, hence the name, Chipping Sparrow.
We were looking forward to the return of our annual Raptor Event after a two-year hiatus only to learn that our event had to be cancelled once again due to an outbreak of Avian Influenza which can be fatal in some species of birds, including domestic chickens. We look forward to welcoming the Ambassadors of Wildlife Haven Rehabilitation Centre back for your enjoyment in the near future.
In the financial world, Canada's Deputy Prime Minister and Finance Minister, Chrystia Freeland, delivered the 2022 Federal budget on April 7, 2022.
This year's budget focused on three pillars: people, an environmentally green transition and innovation in order to stimulate the economy and make life more affordable for Canadians. Our economy suddenly faces inflationary pressures, ongoing housing needs, supply chain issues, labor shortages and foreign protectionism in key export markets. It is a time of economic and social challenges that we haven't faced in decades. Our advice for your portfolios is unchanged; quality will see you through the current period of market volatility.
An exciting new planning tool was announced and is expected to be in place sometime in 2023. The Tax-Free First Home Savings Account (FHSA) would allow first-time homebuyers to save up to $40,000. Similar to an RRSP, contributions would be tax-deductible; like a TFSA, account withdrawals to buy a first home — including investment income — would be non-taxable. This is very similar to the former Registered Home Ownership Savings Plan of the 1970's and 80's which allowed many people to save more effectively and purchase homes, even in the record high interest rate environment of those times.
We look forward to bringing you more information about this and other planning opportunities as they become available.
Questions about your statements? Thinking about making some changes to your own financial situation in 2022? Call us to arrange your meeting today.