IPP retirement plans gain traction for Canadian owners
Canadian business owners and professionals explore Individual Pension Plans as an alternative to RRSPs to boost retirement savings within corporations. IPPs offer higher contributions, tax deductions for the business, and pension income splitting, but are complex and require CRA compliance and professional guidance. A. Craig Elder of RBC Wealth Management notes changes to corporate tax rules may drive adoption and urges consulting an advisor.
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BlackBerry shares fall after revenue miss and outlook
BlackBerry reports first quarter revenue of 235 million dollars, below 264.9 million expected, sending shares down about 11 percent. CEO John Chen defends growth plan while noting one time 27 million services revenue in prior quarter skewed figures. Inflation slows to 1.3 percent in May as Bank of Canada rate hike chances wobble and core measures ease.
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