Personal Assets Ledger

The Personal Assets tab focuses on the values of RRSP/RRIF, Locked-In Plans, Non-Registered, TFSA, Real Estate and Other Assets. All values are equal to the combined client and spouse/partner totals. This ledger helps to expand on some of the asset values listed in the Net Worth Ledger.

Retirement Investments

• Annual Deposit – The total annual deposits for client and spouse/partner RRSP/RRIF and Locked-In Plans.
• Investment Growth – Calculated based on the previous year’s Year End Value and Rate of Return.
• Minimum Withdrawal – The total RRIF Minimum withdrawal required each year.
• Income Withdrawal – Total withdrawal (Including RRIF Minimum) needed for Retirement Income Needs.
• Withholding Tax – The value of tax withheld at source (see Taxation Ledger).
• Additional Tax – Additional withdrawal required to cover taxes owed over and above the tax withheld (see Taxation Ledger).
• Total Withdrawal – The sum of all withdrawal made each year. This includes Income Withdrawals, Withholding Tax, and Additional Tax (see Taxation Ledger).
• Year End Value – The total year end investment value of all RRSP/RRIF and Locked-In Plans.
• Deferred Tax – The total outstanding tax liability assuming full liquidation each year.

Cash Investments

• Annual Deposits – Total annual deposits for both client, spouse/partner and joint Non-Registered and TFSA investments.
• Investment Growth – Calculated based on the previous year’s Year End Value and Rate of Return.
• Taxable Income – The total tax owing based on investment growth and Tax Efficiency, plus any deferred gains withdrawn.
• Income Withdrawal – Total withdrawal needed for Retirement Income Needs.
• Tax Withdrawal – Additional withdrawals required to offset tax owing (see Taxation Ledger).
• Total Withdrawal – Calculated as Income Withdrawals + Tax Withdrawals (see Taxation Ledger).
• Year End Value – The total year end investment value of all Non-Registered and TFSA investments.
• TFSA Balance – The portion of Year End Value allocated towards TFSA investments.
• Deferred Tax – The total outstanding tax liability assuming full liquidation each year.

Real Estate

There are 3 personal Real Estate Holdings included within RazorPlan; Principal Residence, Recreational, and Investment. Principal Residence will have no implications on taxation as the gain is non-taxable. Recreational and Investment properties will trigger tax on all growth over and above the cost base of the individual properties. The following outlines the 3 columns included for each property…

• Property Value – The total value of the Principal, Recreational or Investment real estate.
• Mortgage – The total outstanding end-of-year mortgage value of the Principal, Recreational or Investment real estate.
• Equity – The equity value of a real estate property, calculated as Property Value – Mortgage.

The Total Real Estate area includes the following…

• Year End Value – The total value of all real estate properties; Principal, Recreational, and Investment.
• Deferred Tax – ​The total outstanding tax liability assuming full liquidation of all properties each year.

Other Assets

There are 3 categories of Other Assets available; Index at Inflation, Index at ROI, and No Index. These assets are totaled in the following columns…

• Index at Inflation – The year end value of Other Assets that will grow in value equal to inflation.
• Index at ROI – The year end value of Other Assets that will grow in value equal to the established Rate of Return.
• No Index – The year end value of Other Assets that are not going to experience any level of growth.