Canadian Investors Prefer a Dentist Visit to Paying Taxes, Want Advice about Tax Planning According to Natixis Survey

Investment Weekly News

By a News Reporter-Staff News Editor at Investment Weekly News -- According to a new survey by Natixis Global Asset Management, 41% of Canadian investors find paying their taxes is less appealing than going to the dentist, getting their vehicle fixed and filing paperwork for a mortgage. However, the results of the survey also indicate that tax planning may be where investors need the most education and professional advice to reach savings and retirement goals. Unfortunately, nearly half (46%) of the respondents surveyed indicated they aren't having conversations with their financial advisor about tax-efficient investing.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170606006198/en/ Tax Planning Tools (Graphic: Natixis Global Asset Management) "The demand for tax planning advice is an area that financial advisors can and should be focusing on at a time when investors are scrutinizing the value of advice for the fees they are paying. Advisors can help guide investors to navigate tax laws that are complex and confusing," said Abe Goenka, Chief Executive Officer, Natixis Global Asset Management Canada. "Taxes can have a significant impact on investment returns. Our survey finds that the majority of Canadians are considering the tax implications of their investment decisions. If advisors don't take action, their clients will."

In Canada, investment income can be taxed at more than 50% depending on an individual's tax bracket and home province. Natixis found that more than 5% of the annual taxes paid by most investors (58%) come from investment returns.

"Advisors have a wide range of tools to provide investors with more tax efficient investment strategies. Although many advisors claim to implement these strategies, our survey shows that most advisors aren't going beyond the tip of the iceberg, namely, maximizing use of tax-advantaged registered accounts," said Robert Handelman, Vice President of Tax and Wealth, Natixis Global Asset Management Canada.

Keywords for this news article include: Investment and Finance, Natixis Global Asset Management.