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Yan Zhou (周艳) · Licensed Life & Health Insurance Agent, Financial Services Regulatory Authority of Ontario (FSRA) Last checked 11 August 2026 · figures read from the CRA and Ontario government websites The short version Whether to incorporate depends on how much you can leave in the company, not on what you earn. Ontario small…

Yan Zhou (周艳) · Licensed Life & Health Insurance Agent, Financial Services Regulatory Authority of Ontario (FSRA) Last checked 11 August 2026 · figures read from the CRA and Ontario government websites The short version A CRA letter demanding repayment of a pandemic benefit is a decision, not the final word. Two real cases: ,600…

Yan Zhou (周艳) · Licensed Life & Health Insurance Agent, Financial Services Regulatory Authority of Ontario (FSRA) Last checked 11 August 2026 · figures read from the CRA and Ontario government websites The short version An RRSP defers tax, it does not cancel it. What you save is the difference between your rate now and…

Yan Zhou (周艳) · Licensed Life & Health Insurance Agent, Financial Services Regulatory Authority of Ontario (FSRA) Last checked 11 August 2026 · figures read from the CRA and Ontario government websites The short version Visiting parents have no route to OHIP. Without insurance, every bill is theirs. Ontario ward rates are published: $3,058 a…

Yan Zhou (周艳) · Licensed Life & Health Insurance Agent, Financial Services Regulatory Authority of Ontario (FSRA) Last checked 11 August 2026 · figures read from the CRA and Ontario government websites The short version Over-contributing to a TFSA costs 1% a month on the excess, every month until you take it out. The penalty…

Yan Zhou (周艳) · Licensed Life & Health Insurance Agent, Financial Services Regulatory Authority of Ontario (FSRA) Last checked 11 August 2026 · figures read from the CRA and Ontario government websites The short version Group cover and mortgage insurance are both useful. Neither usually replaces your own life insurance. Mortgage insurance pays the bank….

Yan Zhou (周艳) · Licensed Life & Health Insurance Agent, Financial Services Regulatory Authority of Ontario (FSRA) Last checked 11 August 2026 · figures read from the CRA and Ontario government websites The short version The three accounts differ at two points: whether the deposit is deductible, and whether the withdrawal is taxable. No home…

Yan Zhou (周艳) · Licensed Life & Health Insurance Agent, Financial Services Regulatory Authority of Ontario (FSRA) Last checked 11 August 2026 · figures read from the CRA and Ontario government websites The short version Fill the registered room first — TFSA, RRSP, FHSA — before considering participating whole life. Insurers position these products the…

Yan Zhou (周艳) · Licensed Life & Health Insurance Agent, Financial Services Regulatory Authority of Ontario (FSRA) Last checked 11 August 2026 · figures read from the CRA and Ontario government websites The short version Two ways to pay less tax: reduce taxable income, or claim more credits. They do not work the same way….

Yan Zhou (周艳) · Licensed Life & Health Insurance Agent, Financial Services Regulatory Authority of Ontario (FSRA) Last checked 11 August 2026 · figures read from the CRA and Ontario government websites The short version Small claims are usually submitted online. Large ones generally need documents by post. Two real timelines from my own family:…