Tax planning is a year-round activity - Not just at April tax filing time

    KPMG's Tax Planning for You and Your Family 2008

    TORONTO, Dec. 4 /CNW/ - Most Canadians do not give much thought to
reducing their personal taxes until the early spring when the deadline to file
their return is fast approaching. Unfortunately, by then, many tax saving
opportunities have been lost. With some careful attention, planning ahead and
developing a tax strategy for the year, Canadians can save money at tax time
and all year round.
    "Tax planning should be an important part of your efforts to get the most
out of your financial resources," said Paul Woolford, Tax Partner, KPMG's
Enterprise practice. "Though you only have to file your tax return once a
year, it's the tax planning steps you take throughout the year that will help
you save money at tax time."
    KPMG's Tax Planning for You and Your Family 2008 can help you make tax
planning a year-round activity. Updated for 2008 by the tax and financial
planning team at KPMG, this year's guide offers practical, easy-to-understand
strategies that can help you keep more of your hard-earned dollars and boost
your family's net worth.
    And if you're considering taking advantage of the high Canadian dollar to
acquire U.S. property, keep in mind that U.S. tax implications may come with
it. Chapter 19 of Tax Planning for You and Your Family 2008 discusses the U.S.
taxes that apply to Canadian residents who acquire U.S. investments such as
stocks and real estate.
    KPMG's Tax Planning for You and Your Family 2008 gives you the latest on:

    -   Creating a sound financial plan for your family's future and your
    -   Developing an investment strategy and planning for investments in
        tax-effective vehicles like stocks, bonds, mutual funds, income
        funds, and life insurance products
    -   Minimizing your tax burden by splitting income among family members
    -   Deferring taxes through popular savings vehicles like RRSPs and
        Registered Pension Plans
    -   Making the most of the special tax breaks available for students,
        working parents, first-time home buyers, seniors, and people with
    -   Reducing taxes on your income from your job or your business by
        making the most of your claims for items like automobiles, transit
        passes, moving costs, and home office expenses
    -   Structuring your charitable donations, both during your lifetime and
        in your will, to help maximize the value of the gift to the charity
        and the tax benefits to you or your estate
    -   Fulfilling your obligations to a deceased person's estate and
        beneficiaries as an executor

    KPMG's Tax Planning for You and Your Family 2008 is now available in
bookstores across Canada or directly from the publisher Thomson Carswell
(telephone: 1-800-387-5164).
    To find out more about KPMG's Tax practice in Canada, please visit

    About KPMG in Canada

    KPMG LLP is the Canadian member firm of KPMG International, the global
network of professional services firms whose aim is to turn knowledge into
value for the benefit of their clients, people and the capital markets. With
nearly 94,000 people worldwide, KPMG member firms provide industry-focused
audit, tax, and advisory services from more than 717 cities in 148 countries.

    KPMG's Canadian Web site is located at

For further information:

For further information: Media Contacts: Julie Bannerjea, Senior
Manager, Media Relations, KPMG, (416) 777-3243,

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