Financial Advisors Serving Clients In Calgary, Edmonton, Vancouver, Winnipeg, Ottawa, Toronto, and Surrounding Communities

Your Tax

We believe managing your tax exposure is one of the most effective methods of making your money work for you.

Tax Impacts Every Aspect of your Financial Life.

Our team understands and identifies proactive strategies to help minimize current and ongoing income taxation. We consider the tax implications in all facets of the wealth planning and asset allocation process and partner with our client's tax advisors to help preserve and grow their wealth.

Financial planning and tax efficiency go hand-in-hand. Whether you’re looking to properly save for retirement, help improve your income tax situation or want help with your business taxes – we can create a customized plan for you.


Not all income is taxed the same; income from your investments can come in various forms, the most common of which include interest, dividends, and capital gains. These income types are taxed differently by the Canada Revenue Agency. For example, like wages, interest income typically earned on such investments as Guaranteed Investment Certificates (GICs) or savings deposit accounts is taxed at an individual’s highest marginal tax rate, making it the least efficient form of investment income. By contrast, dividends paid on stocks issued by eligible Canadian corporations receive more favorable tax treatment, since this type of income benefits from the federal dividend tax credit. In other words, dividend income is more tax-efficient than interest income, which ultimately means that investors in dividend-paying investments keep more of what they earn after taxes. Capital gains materialize when you sell your investment for a higher price than what you paid for it. This difference is recognized as taxable income. As highlighted in the chart below, like dividend income, capital gains also receive relatively favorable tax treatment, since only half of the capital gain is subject to taxation. Dividends and capital gains are typically earned on equity investments.


At Bilyk Financial, we can recommend potential tax strategies that may suit your situation. These include:

  • Different forms of income splitting, such as a family trust or spousal loan at the Canada Revenue Agency (CRA) prescribed interest rate
  • Tax-efficient investment vehicles
  •    Investing in registered accounts, such as Registered Retirement Savings Plans (RRSPs), Tax-Free Savings Accounts (TFSAs) or Registered Education Savings Plans (RESPs)
  • Different forms of charitable giving
  •   Distribution of assets between your accounts
  • Approaches for transferring wealth to beneficiaries
  • Potential structures, such as holding companies and insurance
  • With a team approach, we can assist in determining which options may help you reach your goals. 


Many entrepreneurs who have built successful companies are concerned about business succession as they get older. They often want to see the family business passed to the next generation but believe this cannot be done without paying significant capital gains tax. We can reduce the tax with advance planning. We assist with business succession planning by:

  • Meeting with the client to determine the facts and circumstances, reviewing the personal tax position of the owners and the circumstances surrounding the company, and estimating the company’s worth;
  • Obtaining a third-party valuation of the business;
  • Developing a plan for transferring the family business to the next generation (which may involve an estate freeze, the use of trusts, and, where appropriate, working with life insurance professionals) or positioning the business for sale in a tax efficient manner;
  • Working closely with counsel to implement the plan and assist in any tax filings that may be required; and,
  • Once the plan is in place, we can monitor it year by year and adjust the plan for changing circumstances, personal objectives, and changing tax laws.


Providing The Financial Advice You Need Today For Tomorrow’s Success

Money spent on taxes today or in the future generally reduces investment portfolios – sometimes substantially. Our team has decades of experience in anticipating and helping to minimize taxes. We will work to construct a coordinated plan to manage, reduce or eliminate as many tax burdens to a portfolio as prudently possible, including current and future.

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