It's hard to believe, but 2005 is nearly over! It has been an eventful year in financial planning, and we'd like to take a moment to recap a few of the highlights.

• The rules governing Registered Retirement Savings Plans (RRSPs) have changed. The foreign content limit was scrapped and the maximum annual contribution ceiling was increased to $18,000.
• Those caring for disabled loved ones got a bit of a tax break - the maximum amount of medical and disability related expenses that caregivers can claim on behalf of their dependants was increased from $5,000 to $10,000, beginning with the 2005 taxation year.
• Adoptive parents also received some help. Effective for the 2005 tax year, it's now possible to receive a non-refundable tax credit worth up to $10,000 to offset certain adoption expenses.
• The Ontario government announced plans to do away with the provincial tax credit for labour sponsored funds. This RRSP season will be your last chance to qualify for the full 15 per cent tax break, and the measure will be phased out completely by the end of the 2010 taxation year.
• Disabled students will have a little more time to save for, and then complete, their education. The contribution period for individual Registered Education Savings Plans (RESPs) has been increased from 21 years to 25 years and the lifetime limit has been bumped from 25 years to 30 years.
• 2005 was also the first year in which lower income families were eligible for an enhanced Canada Education Savings Grant. Households with incomes of up to $35,000 are eligible for an extra 40 per cent grant on payments they make to an RESP, while families with incomes between $35,000 and $70,000 are now eligible for a 30 per cent grant.

If you think you may be missing out on an opportunity, or if you should have questions about any other time sensitive financial matter, please act quickly and book an appointment with us before the end of December. It would be a shame to miss out on a chance to save money!

We'd like to conclude by saying how much we value your business and the trust that comes with it. We also extend a special thanks to anyone who referred a friend, relative or colleague over the last twelve months. A referral is the greatest compliment we can receive, and we appreciate it very much.

Yours truly,

Tactical Asset Management, Inc.
phone: (306) 757-2121
fax: (306) 347-3655
e-mail: inquiry@tacticalassetmgmt.com
website: www.tacticalassetmgmt.com