Start Date: 3/30/2023 12:00 PM CDT
End Date: 3/30/2023 3:00 PM CDT
Venue Name: Zoom
Canadian Association of Farm Advisors (CAFA) Inc.
A Crash Course on Pension Tax Laws for Farm & Private Corporations
Are you a lawyer specializing in helping farm corporations? Are you a financial planner or advisor whose clients are farmers?
This National CAFA Condensed Course (hosted by webinar) is for you! Course is eligible for Continuing Legal Education hours.
Family Pension Plan has significant differences when compared to an IPP:
- FPP has three pillars: Defined Benefit (DB), Defined Contribution (DC), Additional Voluntary Contributions (AVC) v. just one with an IPP (Defined Benefit)
- FPP provides more flexibility of payments.
- Greater fiduciary oversight. The only provider in Canada with a corporate trustee.
The reason it is called a Family Pension Plan was due the Intergenerational wealth transfer advantages – in some cases, without a disposition.
Thursday, March 30, 2023
With Jean-Pierre Laporte, BA, MA, LL.B., RWM, Integris Pension Management Corp.
This three hour course will cover:
- The use of Family Pension Plans allows accumulated retirement wealth to pass to the children on a tax-exempt basis and bypass the “deemed disposition” rules under tax laws.
- The tax deductions of the Family Pension Plan provide ways to purify the shares of the farm corporation and allow for the lifetime capital gains exemption.
- The investment rules of the Family Pension Plan allow the farmer to invest in asset classes that are not RRSP eligible such as ‘farm land’ or farm-specific private equity or private real estate.
- Farmers leaving farming altogether and deciding to retire outside Canada can protect their wealth from the departure tax and benefit from low treaty tax rates on their monthly pension.
Jean-Pierre Laporte, Integris Pension Management Corp.
Drawing on over a decade of experience as a pension lawyer for several prestigious Toronto firms, including Bennett Jones LLP, Fasken Martineau LLP, Osler and Hoskin & Harcourt LLP, Jean-Pierre has dedicated his career to improving pension legislation.
Frustrated that the significant benefits of pensions were not readily available to those outside of large companies, Jean-Pierre created the Personal Pension Plan ™ to level the playing field and open up a new world of financial options and increased retirement savings for incorporated professionals.
In 2004, Jean-Pierre Laporte set out to create a better solution for investors that wanted improved asset protection while minimizing taxes. With an impressive academic background at the University of Toronto, Osgoode Hall Law School and the Institut d'Etudes Politiques de Paris, he is often called upon as an expert witness before the House of Commons Standing Committee on Finance, and he has written several seminal articles on pension reform, including an expansion of the Canada Pension Plan. In 2012, for his efforts are improving retirement solutions for Canadians, he was awarded the Queen Elizabeth II Diamond Jubilee Media by the Governor General of Canada.
$50 + Tax for CAFA Members
$100 + Tax for non-CAFA members