| | | | | | As we move into the spring season, we hope you are enjoying the longer days and welcome signs of warmer weather ahead. Before long, flowers will begin to bloom and cherry blossoms will return, giving gardeners and outdoor enthusiasts much to look forward to. This time of year also marks the beginning of tax season and provides a good opportunity to review financial matters that may affect you or your family. In this edition: As always, if you have questions or would like to review your financial plan, please feel free to contact our office. If there are financial topics you would like to see addressed in future newsletters, please feel free to Email Us. We always appreciate hearing from our clients. |
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| | | | Financial markets continue to adjust following several years of elevated inflation and higher interest rates. Central banks, including the Bank of Canada and the U.S. Federal Reserve, raised interest rates in recent years to help bring inflation under control. Inflation has begun to moderate in many economies, and investors are watching closely to see whether interest rates may begin to decline later this year. In recent weeks, markets have also reacted to geopolitical tensions in the Middle East involving Iran and neighbouring countries. Developments in the region can influence global energy markets, particularly given the importance of shipping routes such as the Strait of Hormuz, through which a significant portion of the world’s oil supply passes. Despite periodic volatility, major markets, including Canada’s S&P/TSX Composite Index and the U.S. S&P 500, have generally remained resilient. Maintaining a diversified portfolio and focusing on long-term financial goals continue to be important principles for investors. |
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| | Global markets and geopolitical developments
Our investment partner, iA Global Asset Management, regularly provides commentary from its portfolio management team on global market developments.
In their recent update, portfolio managers discussed the evolving geopolitical tensions in the Middle East and the potential implications for global energy markets, inflation expectations, and investor sentiment. Events affecting key shipping routes such as the Strait of Hormuz, through which a significant portion of the world’s oil supply passes, can contribute to short-term market volatility. While geopolitical events can influence markets in the near term, portfolio managers continue to emphasize the importance of maintaining a disciplined investment approach, diversification, and a focus on long-term financial objectives. For those interested in further insights from iA Global Asset Management team, the full commentary is available here: • U.S. / Israel – Iran Conflict: Brief Recap and Market Implications
• Storm Before the Calm – Market Outlook Source: iA Global Asset Management. Commentary reflects the views of the portfolio management team at the time of publication and is provided for informational purposes only. |
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| Proposed Changes to BC Property Tax Deferral Program The recent British Columbia Provincial Budget 2026 includes proposed changes to the BC Property Tax Deferment Program that may affect homeowners aged 55 and older who rely on the program to help manage annual property tax payments. The program allows eligible homeowners to defer property taxes until the home is sold, helping many retirees remain in their homes while managing retirement cash flow. |
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| Under the proposed changes, the interest charged on deferred property taxes would increase and would begin to compound over time, which could raise the long-term cost of using the program. For many homeowners living on fixed retirement incomes, the program has long provided a practical way to age in place without being forced to sell or downsize prematurely due to rising property taxes. According to the Office of the BC Seniors Advocate, more than 65,000 senior households in British Columbia rely on the property tax deferment program, with the average homeowner deferring approximately $4,300 in property taxes annually. Recent announcements regarding development of some long-term care facilities may be delayed or placed on hold have also highlighted the |
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| Did You Know? BC Property Tax Deferral Program Eligible homeowners in British Columbia may be able to defer their annual property taxes through the BC Property Tax Deferment Program. Key points: • Available to homeowners age 55 and older, surviving spouses, and persons with disabilities
• Property taxes can be deferred until the home is sold
• Helps retirees manage cash flow while remaining in their homes
• Deferred taxes become a loan against the property, plus interest If you would like to learn more about how property tax deferral may fit into your retirement planning strategy, please feel free to contact our office. |
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| importance of policies that support seniors who wish to remain safely in their homes for as long as possible. Because of the potential impact on retirees and long-time homeowners, our office has written to the Government of British Columbia to respectfully share concerns about the proposed changes and to encourage careful consideration of how they may affect seniors living on fixed retirement incomes. If you currently use the program, or are considering it in the future, we would be pleased to discuss how these proposed changes may affect your retirement planning. |
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| | With tax season underway, many Canadians are preparing their annual income tax returns. At Macnaughton & Ward Financial Services, we often assist clients in reviewing their tax situation as part of their broader financial planning. Whether you require assistance preparing a personal tax return, managing investment income reporting, or addressing more complex situations such as estates, rental properties, or self-employment income, our team can help guide you or coordinate with your accountant where appropriate. For a helpful overview of several personal taxation topics, Beneva’s Taxes Made Easy article provides a concise summary. |
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| With taxation top of mind during this time of year, many investors also ask how segregated funds compare with traditional mutual funds. While both types of investments provide access to professionally managed portfolios, segregated funds offered through insurance companies include additional features that may be beneficial for some investors. These may include maturity and death benefit guarantees, as well as certain estate planning advantages. Manulife Investments outlines several of the tax and planning considerations that can distinguish segregated funds from other investment options. As with all investments, the suitability of segregated funds depends on individual financial circumstances and long-term objectives. If you would like to review whether they may be appropriate within your portfolio, please feel free to contact our office. |
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| At Macnaughton & Ward Financial Services, we work with clients to review a range of insurance solutions including life, critical illness, disability, travel insurance, and other types of protection. One area sometimes overlooked is accident insurance. Accidents can happen unexpectedly, whether through everyday activities, recreational pursuits, or sports-related injuries. Depending on the policy selected, accident insurance can provide financial support in the event of accidental death, disability, hospitalization, or medical treatment following an accident. Additional details about this coverage are available from iA Financial Group or your Macnaughton & Ward Account Manager. If you would like to review your current coverage or explore whether accident insurance may be appropriate, please contact our office. |
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| Some homeowners may carry mortgage insurance through their lender, while others rely on personal life insurance policies. Mortgage insurance generally protects the lender by reducing the outstanding mortgage balance in the event of death. Personal life insurance policies, on the other hand, provide benefits directly to the policy beneficiary and may offer greater flexibility depending on the policy selected. Sun Life has prepared a helpful article that provides an overview of the differences. If you would like to review your current coverage, your Macnaughton & Ward Account Manager would be pleased to assist. |
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| | | | Q: A friend of mine worked hard his entire life, saved diligently, and paid off his mortgage. Yet now the Canada Revenue Agency is clawing back his Old Age Security payments. Is there anything he can do? A: In 2025 the Old Age Security (OAS) recovery threshold was $93,454. While many retirees earn less than this amount, some individuals with investment income, pension income, or withdrawals from registered plans may exceed the threshold. The strategies available to manage OAS clawback depend on each individual’s circumstances. A review of income sources, investment structure, and tax planning opportunities may help identify ways to manage taxable income in future years. If someone has concerns about OAS clawback, it may be worthwhile to review their tax returns, investment structure, and retirement income strategy with a financial advisor. |
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| | | | Click here to access your reports using your Client Online Access Credentials. Your investment reports are available through your secure client portal, providing convenient access to your account information and documents. Statement Availability - Important Timing Note Year-end statements issued by insurance companies and financial institutions are generally mailed during the third week of January. For clients with online access through our partner institutions, year-end statements will typically be available online after January 19th, once they are released by the issuing company. Please note: Statement availability is determined by the issuing insurance company or financial institution. Online access timing may vary slightly by provider. Ongoing Report Access Within the client portal, you can access: All reports are securely stored in the Documents section of the portal for easy reference at any time. Need Help? If you need assistance setting up access or locating a document: We are happy to help you access the information you need. |
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| | | | | | | For more than 50 years, our office has had the privilege of assisting individuals and families throughout Surrey and the surrounding communities with their financial planning needs. We sincerely appreciate the trust our clients place in us and look forward to continuing to serve you. Macnaughton & Ward Financial Services Ltd. Invest for today. Build for tomorrow. Serving clients and the community for over 50 years. |
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| | | | Visiting Us? Reserve Your Parking in Advance Planning to drop by our office? We’re happy to offer complimentary parking for your visit — no need to pay at the meter. Simply call us at (604) 581-9121 before you leave home to reserve your space. Provide your license plate number and we’ll register it for the duration of your appointment. It’s quick, easy and ensures a stress-free visit. We look forward to seeing you! |
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| | | | | | Macnaughton and Ward Financial Services Ltd. (“MWFS”) is a subsidiary of Global Pacific Financial Services Ltd., a Managing General Agency distributor representing Canadian financial institutions and life insurance companies. Our distinguished partners have a comprehensive range of insurance and financial products, strengths and benefits to best suit the needs of customers. With advice and guidance from your Macnaughton & Ward Account Manager, you can be confident in achieving lifetime financial security. |
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