tax and estate phase

Tax and Estate

Taxes are a fact of life in Canada, as they are in most other developed countries. Canadians pay tax on income earned and on consumption (sales taxes).

The Natural Wealth® Process focuses on three types of TAX:

  • Person Tax
  • Portfolio Tax
  • Possession Tax

Person Tax is made up of all income and consumption taxes associated with earning income from employment, self-employment and retirement and spending money. Canadians pay income taxes on net income earned and sales taxes on goods and services consumed. Generally speaking, the more income we earn and the more net after-tax income we spend, the more tax we pay.

Portfolio Tax is the tax paid on income from financial assets and business and real estate assets.

Possession Tax is made up of the taxes associated with the purchase and ownership of possessions.

The reality is that income tax can take a significant portion of our ongoing personal and portfolio income.

Taxes can also be payable on asset disposition at death. Structuring how assets are held and developing an estate plan using wills and trusts and, beneficiary designations where available, can help minimize estate taxes and maximize estates on death.

The Natural Wealth® Process helps clients understand the impact of taxes in building and managing a successful financial life plan, on their income and spending while living and, on their estates at death. The Natural Wealth® Process then helps clients develop strategies to minimize taxes during their lifetimes and on the estates, at death.

tax and estate


The heart of the Natural Wealth® Process is Vision. A clearly articulated Vision and clearly stated life goals are essential to an effective financial life plan.

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The Natural Wealth® Process focuses on three types of wealth: person, portfolio, and possession.

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cash flow

Cash (Flow)

Cash and Cash Flow is “Vision” fuel. After tax income from employment or self-employment, and/or from portfolio investments can be spent or saved.

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We live with risk every day. Risk cannot often be eliminated completely. It can sometimes be minimized and/or managed.

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