Number of years over which the principal and interest of a loan are paid. The maximum amortization period for a mortgage loan is 25 years.
All of the tangible and intangible property belonging to a company or to a person: money, equipment, securities, buildings, etc.
In the Morningstar ratings, the term decile refers to the positioning of a mutual fund in relation to other funds in its peer group. For example, a fund that ranks in the first decile obtained a return that places it in the top 10% of the best performing funds in its peer group.
- Family trust
Financial tool that enables members of a family to reduce their taxes while providing for the financial future of their descendants or heirs who have little or no income. The head of a company can transfer to the family trust his or her personal assets and family patrimony, various property, shares, and other investments.
- Group RRSP
Plan in which participants invest in order to receive a retirement income. A customized Group RRSP meets the requirements of the Voluntary Retirement Savings Plans Act and is a choice option for employers.
- Home Buyers’ Plan (HBP)
Program which under certain conditions enables you to borrow funds from your Registered Retirement Savings Plan (RRSP) to buy or build a home. The maximum withdrawal amount is $25,000 in a calendar year. Repayment terms apply.
Inability of a person to administer his or her property for the following reasons: degenerative mental illness stroke intellectual disability head injury age-related impairment
- Income splitting
Method of transferring, in the form of a gift or a loan, part of the income of a person in a higher tax bracket to a family member in a lower tax bracket.
- Individual Pension Plan (IPP)
Registered defined benefit pension plan that enables a company to save for the retirement of a key employee or a major shareholder.
- Investment vehicle
Generic term for a variety of financial products in which one can invest and grow one’s money: RRSP, mutual funds, etc.