Reader seeks strategies on how to reduce tax. Photo by Postmedia file

Q. I’m 72 years old and doing some estate planning and I’m looking for ways to reduce taxes on the estate I leave my four children. I have topped up my tax-free savings account (TFSA) already. I’m at the stage where I have to make yearly registered retirement income fund (RRIF) withdrawals which elevate my pension income and which in turn raise my income taxes. Last fall, I moved to Nova Scotia, which has a higher tax rate than Ontario, so I’m now being taxed more heavily than before. Also, when I die my RIFF investments will be treated by the Canada Revenue Agency (CRA) as sold all at once and will become income for that one year, so that income and taxes will be higher. It’s frustrating. Can you provide any

See Full Page