Tuesday, June 12, 2018

DIY Version

11:17 AM


Questions:

Looking for retirement planning software for personal use, but with a level of sophistication. Does your software:

  • Perform detailed tax calculations based on the Canadian Income Tax Act?
  • Support income by type (earned income, investment income – dividend [Cdn and foreign], CG, CPP, OAS, etc)
  • Track assets over multiple investment accounts – registered, non-registered etc.
  • Allow for multiple family members (husband/wife) and track them separately (especially for tax purposes)

Answers:

Yes, the tax calculations are accurate. The type of investment income calculated depends on your asset allocation. Based on this, the program allocates investment income among interest, dividends and realized and unrealized capital gains.

Your assets are divided according to type: registered, locked-in, TFSA and non-registered. You cannot enter each account separately (for example, if you have two RRSPs).

The program calculates other types of income such as pensions, CPP, OAS. However, it does not show separately the various types of investment income year by year, only as a whole.
You can do a combined plan for you and your spouse.

If you subscribe, you will get a refund within the first 30 days if it does not meet your needs. In order to get your refund, simply email support@retireware.com.

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