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Details From Prior Versions
Version
2008.3
Version
2008.2
Version
2008.1.1
Version
2008.1
Version
2007.4.1
Version
2007.4
Version
2007.3
Version
2007.2.1
Version
2007.2
Version
2007.1
Version
2006.4
Version
2006.3
Version
2006.2
Version
2006.1
Version
2005.4
Version
2005.3
Version
2005.1
Version 9.3
Version 9.2
Version 9
Version 8.8
Version 8.7
Version 8.6
Version 8.5
Version 8.4.1
Version 8.3.2
Version 8.3
Version 8.2
Version 8.1
Version 7.2
What's new in Financial Planning Spreadsheets ©
Professional Version - 2008.3
Release Date June 20, 2008
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the main
emphasis has been on making the templates easier and faster for the advisor to
use and your clients to understand.
Included in this release are the OAS rates for the third quarter of 2008, July
2008 - June 2009 GST Credits and the Canada Child Benefits.
We also have been working on better application display for systems with high
resolution dpi settings and have included many changes for this in the 2008.3
release.
There have been a few other minor changes to a couple of the templates in this
release.
What's new in Financial Planning Spreadsheets ©
Professional Version - 2008.2
Release Date March 28, 2008
Here are the highlights of changes to the templates:
We are please to announce that we have released the new interface that we have
been working on for a while now to replace the existing menu system that
interacts with our Financial Planning Spreadsheets. This version includes a
better navigation system that appears to the left of the open templates, a new
feel and look, a database system for the basic data required by the templates,
imprint changes that can be download directly from our website, better license
/ software updating, a better help system, a new manual, and many more changes.
OAS Rates for the second quarter of 2008 are included in this release as well
as the CPI and Rate of Return Data has been updated.
For Excel 2007 users new Excel 2007 templates are includes.
We continue to improve and simplify the data entry. As always, the main
emphasis has been on making the templates easier and faster for the advisor to
use and your clients to understand.
What's new in Financial Planning Spreadsheets ©
Professional Version - 2008.1.1
Release Date January 30, 2008
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the main
emphasis has been on making the templates easier and faster for the advisor to
use and your clients to understand.
We have made some revisions to the tax worksheets and the L.I.F. rules.
There is no additional charge for these changes to currently licensed users of
our software.
What's new in Financial Planning Spreadsheets ©
Professional Version - 2008.1
Release Date January 14, 2008
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the main
emphasis has been on making the templates easier and faster for the advisor to
use and your clients to understand.
Income Tax rates for 2008 and the OAS rates for the first quarter of 2008 are
included in this release.
There have been numerous minor changes to many of the templates in this
release, also any known bugs have all been fixed.
What's new in Financial Planning Spreadsheets ©
Professional Version - 2007.4.1
Release Date November 29, 2007
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the main
emphasis has been on making the templates easier and faster for the advisor to
use and your clients to understand.
Changes to the federal tax brackets and credits have been made based on the
federal governments fall 2007 fiscal statement.
We have made some minor changes to the taxation templates.
OAS rates for the fourth quarter of 2007 are included in this release.
Professional Version - 2007.4
Release Date October 14, 2007
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the
main emphasis has been on making the templates easier and faster for the
advisor to use and your clients to understand.
OAS rates for the fourth quarter of 2007 are included in this release.
The menu system and templates have been updated to function better with Windows
Vista.
We have modified the Questionnaire template so that it can easily be emailed to
your client's.
What's new in Financial Planning Spreadsheets ©
Professional Version - 2007.3
Release Date July 3, 2007
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the
main emphasis has been on making the templates easier and faster for the
advisor to use and your clients to understand.
OAS rates for the third quarter 2007 are included in this release.
The install programs have been updated to function better with Windows Vista.
There have been minor changes to a few of the templates in this release.
What's new in Financial Planning Spreadsheets ©
Professional Version - 2007.2.1
Release Date May 29, 2007
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the
main emphasis has been on making the templates easier and faster for the
advisor to use and your clients to understand.
There have been minor changes to a few of the templates in this release.
OAS rates for the second quarter 2007 are included in this release.
What's new in Financial Planning Spreadsheets ©
Professional Version - 2007.2
Release Date April 11, 2007
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the
main emphasis has been on making the templates easier and faster for the
advisor to use and your clients to understand.
The one version of the program can now be installed on Microsoft Office 2007,
2003, 2002(XP), & 2000 or Microsoft Excel 2007, 2003, 2002(XP), & 2000.
OAS rates for the second quarter 2007 are included in this release.
What's new in Financial Planning Spreadsheets ©
Professional Version - 2007.1
Release Date February 2, 2007
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the
main emphasis has been on making the templates easier and faster for the
advisor to use and your clients to understand.
Income Tax rates & Income Security rates for 2007 are included in this
release.
What's new in Financial Planning Spreadsheets ©
Professional Version - 2006.4
Release Date October 5, 2006
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the
main emphasis has been on making the templates easier and faster for the
advisor to use and your clients to understand.
Income Security Rates for 2006 - Fourth Quarter are included in this release.
What's new in Financial Planning Spreadsheets ©
Professional Version - 2006.3
Release Date July 12, 2006
Here are the highlights of changes to the templates:
We continue to improve and simplify the data entry. As always, the main emphasis has been on making the templates easier and faster for the advisor to use and your clients to understand.
Income Security Rates for 2006 - Third Quarter are included in this release.
The new Child Tax Benefit & GST credits effective July 1, 2006 have been included.
There have been other minor changes to many of the templates in this release, also any known bugs have all been fixed.
What's new in
Financial Planning Spreadsheets ©
Professional Version - 2006.2
Release Date April 18, 2006
We continue to improve and simplify the data entry. As always, the main emphasis has been on making the templates easier and faster for the advisor to use and your clients to understand.
All five of our various income tax templates have been changed to automate more of the income tax credit calculations Our template for "Analysis of Tax Liabilities for Clearance of Estate" has proven to be very popular.
We have made some changes to this template to make the data entry simpler.
There have been other minor changes to many of the templates in this release, also any known bugs have all been fixed.
There is no additional charge for these changes to currently licensed users of our software.
What's new in Financial Planning
Spreadsheets ©
Professional Version - 2006.1
Release Date January 25, 2006
For years, our Adjusted Cost Base templates have been used by our software customers as an accurate way of keeping track of the client’s investment transactions. Building on that success, we have enhanced those templates to present more information than just the average cost per share. These reports now also show the adjusted cost base history of the investment and provide a snapshot of the performance of the security being reported on. You can now easily handle stock splits, exchanges and return of capital transactions.
New Template on the Investing Menu
“Comparison of Deferred Pension to Private Managed Pension”
This worksheet compares the frequently asked question of whether it is best to
accept the deferred pension plan when leaving the employer or to transfer the
funds out to a LRIF, LIF, or a LRIF. The illustration shows the matching
guaranteed pension as well as the balance of funds remaining for the option
selected. If the balance of funds is positive after the expected mortality of
the client (and spouse if applicable) then a transfer out is advantageous. You
can also illustrate a level income option where this could be to the client’s
advantage for health or other reasons for a fixed number of years. The
comparison shows the amount of extra money the client will have as a result of
a transfer.
New Templates on the Insurance & Estate Planning Menu
“Taxable Capital Gain from Deemed Disposition”
This worksheet will calculate the deemed disposition of securities from its
inception to the date of death (or divorce) as required for the terminal tax
return
The report is summarized in two sections, one for realized gains during the year and the other is for the deemed disposition resulting in additional capital gains to the date of death.
This template can assist you in calculating the client’s tax liability for their estate plan or with compiling the deemed disposition records in the event of the clients death or divorce.
“Summary of Deemed Disposition of Securities”
This worksheet is used for compiling a list of realized gains for the tax year
resulting from the deemed disposition (death or divorce). Information can be
copied from the individual "Deemed" worksheets and summarized on this
form
New Templates on the Taxation Menu
“Analysis of Prescribed Annuity Income”
This worksheet was designed to show the higher net income available by using
non-registered funds to provide Prescribed Annuity income. The template
calculates the tax payable on the prescribed annuity and compares the
cumulative annual income to a GIC or Term Deposit.
“Summary of Realized Gains for the Year”
This worksheet is used for compiling a list of realized gains for the tax year.
Other changes:
Income Tax rates & Income Security rates for 2006 are included in this
release.
There have been numerous minor changes to many of the templates in this release, also any known bugs have all been fixed.
We continue to improve and simplify the data entry. As always, the main emphasis has been on making the templates easier and faster for the advisor to use and your clients to understand.
What's new in Financial Planning
Spreadsheets ©
Professional Version - 2005.4
Release Date November 3, 2005
New Template on the Insurance Menu
"Analysis of Tax Liabilities for Clearance of Estate"
This two-page report with a chart was designed to calculate the tax liability
at death for settlement of the estate. Calculations are provided for the
terminal tax return including probate fees and charitable bequests. The items
shown on the report provide space to enter the market value of the asset less
its adjusted cost base (ACB). A place has also been provided to enter the ACB
of securities donated to a charity for the lower inclusion rate. You can also
enter a claim for any unused enhanced capital gain deduction and eligible
capital gain carried forward.
The chart has been designed to show the growth of the tax liability over time for up to forty years in the future. This template can be a very good tool for showing the need for last to die life insurance.
Here are the highlights of changes to the other templates:
We continue to improve and simplify the data entry. As always, the main
emphasis has been on making the templates easier and faster for the advisor to
use and your clients to understand.
Tax Updates & Income Security Rates for 2005 - Fourth Quarter are included in this release
The ACB tracking worksheets have been improved to make them more presentable.
The data entry form has the marginal tax rate calculated from the income entry as a default to save time.
LIF & LRIF templates have been improved to add more flexibility and pro-rating for year one as well as more comment flags at critical entry points in the assumptions areas.
On the portfolio templates, we have removed the foreign content column, as this is no longer a factor on tax sheltered retirement accounts. This allow for more space on the report for a neater presentation.
The client name and spouse name fields have been changed on many reports from the actual name to "Client" and "Spouse" in order to avoid errors where the names were not entered. Likewise where the tax year was shown as 2005 and 2004 we have changed the tabs etc. to display "Current Year" and "Prior Year" so that the right tax rates are used.
There have been numerous minor changes to many of the templates in this release, also any known bugs have all been fixed.
What's new in Financial Planning
Spreadsheets ©
Professional Version - 2005.3
Release Date July 14, 2005
We have improved and simplified the data entry procedure and have done the same for the LIF and LRIF templates. As always the main emphasis has been on making them easier and faster for the advisor to use.
There are also two new templates in this release and four others have been combined into one by use of extensive lookup tables. Previously we had separate LIF & LRIF templates for Manitoba and Quebec as well as federally administrated LIF plans. You can now select the appropriate jurisdiction from a list and the calculations are automatically made for the chosen jurisdiction.
New Templates
Life Income Fund (LIF) & Locked Retirement Income Fund (LRIF)
Rules in Canada
This is one of the new templates in this release. This worksheet details
the various rules for each province or territory and for federally regulated
plans. Links are also provided to the respective web site for each
jurisdiction. The rules that apply vary among Provinces and are very often not
the same as the Province of residence. Knowing the rules that apply to various
jurisdictions can assist the advisor in securing assets for management. Many
jurisdictions have different rules based on the start dates of their
regulations. This produces some available funds and other funds subject to
their lock in regulations. In many cases both can be transferred. This
worksheet is meant to assist you in identifying the rules between jurisdictions
so you can better deal with these assets.
The revised templates allow you to quickly illustrate a LIF or LRIF from any Province or jurisdiction with perfect accuracy following the rules for that jurisdiction. For example: 7 require transfer to an annuity by age 80 (three provinces, 3 territories and federally administered plans), two others do not allow either plan, 5 have no annuity requirement to their LIF plans. Four provinces have legislation allowing LRIF’s.
In the process of your fact finding interviews you can work at discovering deferred pension benefits the client may be entitled to or may become entitled to at the time of leaving the current employer. Going after this market is very lucrative for advisors, if you know the rules. The commuted value of these plans can very often be transferred to your management especially if you can illustrate attractive alternatives with the use of our software. View PDF Sample Click here.
LRIF Chart
We have added a chart for illustrating LRIF contracts. It is created
automatically from the LRIF template. View PDF Sample Click here
Here are the highlights of changes to the templates:
As mentioned above we now have one template for all LIF plans and one for
all LRIF plans. By selecting the appropriate jurisdiction from a drop-down list
the appropriate formulas are used and their rules applied to the illustration.
Most templates now have a “Clear Data” button on the left side of the top toolbar. This makes it quick to remove the sample data if you prefer to start with a blank assumption section of the template.
On the amortization schedules we have added a button to allow you to enter how many pages you want printed (from 1 to 15).
The loan schedule page has been increased from 36 months to 60 months shown on the one page.
Tax Updates & Income Security Rates for 2005 – Third Quarter are included in this release
The new Child Tax Benefit & GST credits effective July 1, 2005 have been included.
Historical Rates or Return up to and including 2004 are in this update.
We have standardized the display for the date format to the Canadian standard of dd/mm/yyyy. You can enter dates into the templates using the same format as your “short date settings” in your computer systems “Regional Settings.” Our software will pick up your date format settings and make any date arithmetic calculations based on the same format.
Any known bugs have been fixed in this release.
There is no additional charge for these changes to currently licensed users of our software.
What's new in Financial Planning
Spreadsheets ©
Professional Version - 2005.1
Release Date January 13, 2005
We have made some major changes to our 5 income tax templates which will be released this month. The main emphasis has been on making them easier and faster for the advisor to use. You can now do a detailed tax analysis for a client and spouse on one page. Quick Tax eat your heart out.
There are also two new templates in this release.
Here are the highlights of changes to all of the five tax templates:
1. There are now five drop down lists on the template so that you can enter if the client and/or the spouse will receive each credit. The options are “Client only”, “Spouse only”, “Both”, or “No” for neither being eligible. When selected the tax credit will be calculated automatically in the appropriate column.
2. The grossed up dividend can be entered as this is the most obvious amount on the clients T3/T5 slips. The rest of the Dividend Tax Credit (DTC) calculation is automatic.
3. The Age credit if applicable has been pre-calculated from the total net income. If income is over the threshold it generates a message “Income Over”. If the credit is reduced because of income the reduced credit is calculated and entered automatically.
4. The Charitable Deduction allows you to enter the total expense; the credit is calculated automatically and applied to the spouse with the highest income.
5. The Medical Expense credit now allows you to enter the total expense; the credit is calculated automatically and applied to the column with the lowest Income.
6. A row has been entered for “Social Benefits Repayment” (OAS claw-back). If applicable the claw-back is calculated for each person.
7. There are a number of formatting changes as well to improve the printed report.
8. Better description labels and many comment flags have been added to speed up the data entry. By learning to use one, any of the five templates can be used the same way.
9. The layout has been rearranged to follow more closely a CRA tax return layout. For faster data entry if you are working from a previous tax return.
10. You now have the ability to use the current year (2005) tax rates, credits and brackets but also the prior year (2004). If you are working on a re-assessment for a client it is handy to have the prior year’s tax amounts to work with. We feel that this will be a useful enhancement to our tax templates.
Some of our customers use nothing but our tax templates so we are sure these enhancements will be welcomed especially as we approach a new tax season.
New Templates in This Release
We have added two new templates to deal with division of assets at
separation or Divorce. A good number of our software customers have their CDS
designation and are very active in the Divorce consulting market. These two
templates bring to six the templates we have included for that market and other
valuation issues.
Proposed Division of Assets as of Valuation Date
This worksheet details the fair market value of assets at the time of a
marriage breakdown. It also calculates the tax liability on tax sheltered
assets and allows for other tax liabilities to be accounted for at that time.
This worksheet then calculates any equalization payment required to balance out
the division of assets.
Projected Growth of Net Worth - After Separation
This template takes the income and tax payable from the
"Separate" template and the Assets from the "Valuation"
template and projects the future growth of Net Worth for both clients on an
after tax basis. The growth can be projected ahead up to 25 years. Each column
on this new template has a different tax treatment as it is important to look
at the fact that some assets may have a greater tax liability than others. For
example the home would be tax free growth in most cases, whereas the RRSP's
would be fully taxable when withdrawn. This report makes all of the
calculations to produce an after tax net worth.
Tax Updates & Income Security Rates for 2005
All published tax credits, tax brackets and benefit rates for 2005 have
been included in this release. As mentioned above we have programmed an option
to use either 2004 or 2005 tax tables as your situation requires.
As a result of these many changes it has become our largest update ever. We have also programmed in some error trapping messages to warn you if the program is not set up properly, or if it is out of date. This has necessitated a different setup file to be downloaded when you get your update. Instead of just downloading the update you will be able to download a complete new program. There is no additional charge for these changes to currently licensed users of our software.
We thank you for your suggestions which allow us to keep improving tour software.
What's new in Financial Planning
Spreadsheets ©
Professional Version - 9.3
Release Date October 14, 2004
This release has revised 19 of the existing templates and added two new ones. A couple of very significant improvements have been made to existing spreadsheets. Here are some of the highlights:
Funding Requirements for Retirement
Our most popular spreadsheet has been made even more flexible by
incorporating two additional assumptions for pensions of the spouse or the
spouses other income or bridging sources. The best part of this is that we have
achieved this by rearranging the assumptions in a layout that is easier to
follow without having to shrink down the font size or the number of years shown
on each page. This change will allow most every situation for any couple to be
illustrated accurately on one retirement plan. As many couples have a few
pensions each or one person will continue working after the other retries,
these changes will allow you to handle those situations more easily. Arranging
the future deposits near the existing assets helps to quickly find the right
mix. The Capital Remaining" statement now includes the name of the youngest
spouse with the statement highlighted for easy recognition.
Asset Allocation Goals
The “Investor Profile” determined by the clients answers to the “Risk
Questionnaire” now provides an estimated future rate of return looking forward
based on historical returns and conservative future assumptions. The estimated
rate of return shown on this report is meant to be guide for the rate return to
be used for other projections in your proposal, or financial plan. This has
been achieved by a new table of return rates for the various asset classes. The
weightings for each asset class and the anticipated rate of return can also be
entered by you. We feel that this approach would be more reassuring to a client
than "Monte Carlo Simulation" estimates of probability. We have found that a
client approaching retirement requires a more definitive answer to the
question: Can I afford to Retire? A best case worse case presentation we have
found to be more effective in these situations. The tables of asset allocations
and return rates can be viewed to the right of this template. As part of this
enhancement we have improved the risk questionnaire and the points system to
better reflect the clients risk tolerances.
Estate Capital Needs Analysis
This report has been reformatted into a two page printout so as to incorporate
the chart in the same printout. The formatting has been improved to enhance its
readability. R.R.S.P. Contribution Room
We have added to this template a section for calculating Retiring Allowances.
As this calculation can be confusing to remember, the template makes it simple.
Two new templates have been added to the package for clients with pensions
governed by different jurisdictions.
Life Income Fund (Federal Plan Illustration)
Federally administered pension plans still use the old rules of using the
actual CANSIM rate (currently 5.24%) without default to the 6.000% minimum used
in many provinces. They also require the funds be transferred to an annuity by
age 80. Some provincial pension jurisdictions still require that the LIF funds
be transferred to an annuity by age 80. The legislation covering the pension
plan governs which rules to use.
Prescribed Retirement Income Fund (P.R.I.F.) - Saskatchewan Illustration
Pension Plan assets under the jurisdiction of the Saskatchewan Financial
Services Commission-Pensions Division can be transferred to a P.R.I.F. (no
maximum withdrawal). Consent of the spouse as beneficiary is required to
transfer assets from the pension plan. Pension plans are permitted, but not
required to offer a PRIF option at retirement. This template is in all other
respects identical to our regular R.R.I.F .templates.
New rates for the Old Age Security rates for the third quarter of 2004.
What's new in Financial Planning
Spreadsheets ©
Professional Version - 9.2
Release Date July 29, 2004
Our Pension Templates package now offers another illustration
"Prepaid Pension Maximization."
Our pension maximization template has been widely used in the past. We have
now developed an additional template for these situations with an emphasis on
starting a plan (Prepaid) before retirement. This template produces a two page
report with a chart and detailed text about how the plan works. The
illustration shows and explains the advantage of purchasing life insurance
prior to retirement so as to allow the client to choose the life only pension
option as opposed to the joint pension option at the time of their retirement.
This template was designed for a quick illustration covering most pension plans. Use it where the pension is based on the average of the last 5 years salary, no penalty has been applied for early retirement and the pension formula applies to the full average salary. For other situations you would use the regular Pension Maximization template.
The regular Pension Maximization report has received some major changes including having the chart printed on page 2 of the report along with a detailed explanation of the concept.
Better Print Formatting
We have been working hard on the templates to improve and standardize the
printed reports and charts. Due to the way Windows XP handles printing has
necessitated many of these changes. All of our reports have received some
changes to improve them as well as additional comment flags and linking to
speed up using them. We feel you will like the outcome.
New Provincial Income Tax Rates
Ontario has brought out a new Ontario Health Premium Tax as of July 1,2004.
We have revamped all 5 of our tax templates to include this new tax.
Nova Scotia has introduced a fourth tax rate for 2004 and their new rates are included in this release.
The Northwest Territories have changed their provincial tax rates. These are now included in this update.
New Federal & Provincial Benefit Rates for 2004
New rates for the "Old Age Security" rates for the third quarter
of 2004. We have also provided the new rates effective July 2004 for the
"GST Credit", "Child Tax Benefit".
Site License Edition
User of the site license package (5 or more users) now have the ability to
change between registered users from only one software installation. When the
update has been installed the Setup Options screen appears. Select the new tab
called "Imprints" and you will see the list of your Registered Users
of the software. Click on any Registered User name in the list to display the
full imprint on the right of the list. Your computer will remember the selected
user until it is changed. You may change the selected imprint at anytime from
the Menu system, or from Excel.
The download and installation process is now simpler for our Site license edition , as you now only have to download one Registered User file for the firm instead of a Registered User file for each user. For the single user edition these changes will have no effect to them.
What's new in Financial Planning
Spreadsheets ©
Professional Version - 9
Release Date April 20, 2004
"Checking for an Update"
We have developed a "Check for Update" function so you can
quickly check to see if you have the latest available update. This will also
make it quicker and simpler to download the updates and any new templates when
they are available. After installing this update in the normal manner you will
be able to merely click on the "Help" menu then on "Check for
Update..." from our main menu screen. The first time you use this feature
you will need to enter your User Identification and Password, this new feature
will automatically enter it for you the next time you use it. The software will
check your version against our website to see if you have the latest version of
all the templates. Even if you have the latest update you will still be able to
request an update in case your current install has become corrupted.
We have also programmed in a reminder screen to check for updates every 90 days if you have not updated your templates. This is in case one of our update notices was overlooked. With this new service you can be confident that you are using the latest templates and tax rates.
"Owners Manual" Improved
We have changed the layout of our owners manual to make it easier to find
what you are looking for.
The nine category menus have been reproduced in the manual with a bookmark to take you to a detailed description of how to use the template. You can open the Owners Manual from the main menu and quickly find out more details on the template you are considering. Additional cross referencing has also been added.
Leverage Templates now offer more illustration options.
We have reworked the main leverage illustration to allow a larger variation
of loan repayment options. Previously the main leverage template illustrated
interest only payments, or an amortized repayment program. You can now
illustrate a repayment schedule of any amount over the interest only option.
Asset Allocation of Portfolios has been further simplified
In our last release we combined all of the portfolio and asset allocation
worksheets into one file for easier navigation. To further improve the process
we have made it easier to change the asset class categories or their weightings
in the various investor profiles. This will make using these worksheets much
easier.
Federal & Provincial Income Tax rates for 2004
New tax rates and credits are now supplied for federal rates and all
Provinces and Territories for use in 2004 as well as new Income Security
program rates for 2004 with the Old Age Security rates for the second quarter
of 2004.
What's new in Financial Planning
Spreadsheets ©
Professional Version - 8. 8 ?
Release Date January 12, 2004
We are pleased to enclose with this update Four New Templates and
some major revisions to some of the old standbys in the package Our thanks to
customers who have supplied ideas and our Beta Testers for their feedback.
Under the "Insurance" menu tab we have added 1 new
template
Long Term Care Analysis
The purpose of this analysis is to compare the cost of long term care
insurance to using your own capital to provide funds for long term care. This 2
page report with a chart illustrates the amount of capital required for the
client to fund their own long term care expenses from their retirement assets.
Depending on the clients tax bracket the insurance will often work out to be a
less expensive alternative. By showing the depletion of the capital the
advantage can be illustrated. The insurance benefits, less the cost of the
insurance illustrates the amount of benefit received over the period chosen. We
have put in a formula where you can immediately see how much capital is
required to meet the assumptions used, or you can type over it with the amount
the client wants to set aside for long term care as an alternative to the
insurance . We believe this illustration will be a powerful selling tool.
Under the "Other" menu tab we have added 3 new templates
Three Engagement & Disclosure letters now included
This release has been expanded to include our very popular engagement and
disclosure letters into the Financial Planning Spreadsheets © Professional
package. We have used these engagement letters for many years with great
success. Also, our "No Fee Engagement Letter" will be of great
interest to product licensed advisors. In the past they have been a part of our
package of "Letter & Forms for Financial Advisors". As these are
needed in any client engagement we wanted to be sure that our customers had
these available to use with their financial planning clients. These new
template are part of the Recommendations file.
Under the "Investments" menu tab we have added a new
template
Projected Growth Of An Investment With Variable Deposits &
Withdrawals
This template will illustrate planning situations where lump sums may be
added, or removed from the portfolio at various points in the future. This
could be an inheritance at some future point to illustrate to the client the
effect on their retirement nest egg. This situation often arises from
downsizing at the time of retirement with the surplus assets added to the
retirement portfolio. Likewise the purchase of a motor home at retirement age
by a withdrawal from the retirement fund. The effect of this withdrawal can be
illustrated on this template. A simple drop down list allows you to quickly
select either monthly or annual deposits or withdrawals. Up to 50 years of
forecasted results are now on a two page report with a chart included.
There has been some very important changes to a number of the more
common templates
Funding Requirements for Retirement - Client worksheet (Revised)
This popular template has been further improved with an ability to enter a
second temporary monthly income stream starting at retirement age and ending at
any future date. This second temporary income is useful if the client has say
disability, alimony, or rental income and a bridging pension, which is expected
to continue for a number of years into retirement. These changes allow you to
illustrate two different pension income sources at any starting date and two
temporary income sources from retirement to any future date. All four can be
with, or without indexing. Identifying labels can also be changed by the
advisor for greater clarity.
Projected Growth of an RRSP Investment (Revised)
The file of RRSP templates have been simplified by offering on one report
the option of illustrating Monthly or Annual deposits. Also you can illustrate
up to 50 years of results. The report has been expanded to two pages and
includes the chart on the second page. The minimum RRIF withdrawals are also
factored into the illustration after age 69 and noted on the report. This
eliminates three different worksheets making it quicker to develop your
illustrations on one report worksheet.
Registered Retirement Income Fund (R.R.I.F.) Illustration (Revised)
This very powerful template has been simplified by combining the monthly
and annual illustrations onto one template. This reduces four templates and
charts to one two page report with a chart included. Up to 60 years of
withdrawals can be illustrated on the one template. This template has been
popular with advisors because of its accuracy and its ability to show the
minimum, target ,or level payout options available to a client.
Projected Growth Of An Investment (Revised)
There is now one template in place of 4 previously to illustrate the growth
of an investment at three different rates of return. A simple drop down list
allows you to quickly select either monthly, or annual compounding. Up to 50
years of forecasted results are now on a two page report with a chart included.
Asset Allocation of Portfolios has been simplified and made quicker
(Revised)
We have amalgamated the Allocation, Risk, and the Portfolio Analysis
report/Chart with the Portfolio worksheets to eliminate confusion caused when
linking the data from analysis reports back to the Portfolio file. This will
eliminate all linking between the two files. It will make using these
worksheets much easier. This new and enlarged portfolio file has been beta
tested by some of our "Beta Testers
Income Tax worksheets
Our popular and quick income tax templates have been made even quicker by
automating more of the calculations. Such as the C.P.P, E.I. and Medical
Expense credits as well as a number of other input cells. The calculations are
100% accurate for Federal taxation and all provinces and territories.
Federal & Provincial Income Tax rates for 2004
New tax rates and credits are now supplied for federal rates and all
provinces and territories for use in 2004 as well as new Income Security
program rates for 2004.
What's new in Financial Planning
Spreadsheets ©
Professional Version - Version 8.7 ?
Released on July 3, 2003
This release has 11 new templates added to the package as well as a large number of changes to most of the retirement related templates.
We have added the option of indexing the savings to a factor for inflation on all of the savings accumulation type templates. As well we have added an inflation assumption for the RRIF, LIF And LRIF illustrations
MAIN menu program changes
We have found a way to have the templates open much faster when you click
on any menu item. In addition we have added some other features on the “Options
Menu” at the top of the screen. The first one allows you to quickly change the
asset allocation module to default to your own preference for asset mix.
Another option creates a folder for you to save your client reports for easy retrieval. This option entitled “Saving Templates” on the same “Options Menu” creates a sub folder under “My Documents” by the name of “Clients” and sets Excel’s default file path to Clients as well. In this way when you go to save a file it will automatically default to the Clients folder. This should make file retrieval simpler for most.
The other option on this menu allows you to set or change the default Province or territory for tax calculations. You can also set the default view to less than 100% if you want to see more of the report on your screen.
This release has an emphasis on Retirement Planning with new templates and a large number of enhancements to the existing templates
Under the "Retirement" menu tab we have added 7 new
templates
We have moved the LIF & LRIF templates from the pensions file to a new
file called LIF.xlt as the following changes have added a lot of size to the
file. All of these templates in this file have been expanded to illustrate up
to 60 years in a plan. This allows for a lengthy period of accumulation prior
to the start of withdrawals. All of these templates now have a provision to
illustrate indexing of the target withdrawal amount. We have added a new chart
for the LIF illustration, which illustrates the minimum, maximum and target
income streams with, or without indexing.
We have added a template to illustrate a Locked In Retirement Account (L.I.R.A.) at three different growth rate assumptions. This template along with the LIF template should assist in evaluation of pension rollover options available for your clients.
We have added separate templates for LIF & LRIF’s for Manitoba, which accommodate and illustrate their special rules for temporary income. A new template for Quebec LIF’s has been included for the same reason. If you have clients with pension plans that come under the jurisdiction of those provinces, you will find our template the only one on the market, to our knowledge that can calculate for those provinces.
We have a new template, which combines an RRSP illustration with a RRIF illustration on a two-page printout. The idea here is to make a single report and chart illustrate clearly the accumulation period with deposits until retirement then at retirement illustrate the range of income options available to the client with a minimum, target, indexed target and a level payout for a given number of years.
An indexing option has also been added to the RRIF illustrations as well as a second page for up to 60 years of projections. This will allow for a deferral period to be illustrated before the payments commence. Where the deferral is over a year a note will appear in the report clarifying that the funds would be in an RRSP until the year prior to transfer to the RRIF. Being able to put it all on one report will make it clear for the client to understand the impact of a delayed start date to the income withdrawal.
On our very popular “Funding Requirements for Retirement” we have unprotected the column for RRSP savings so that changes to the annual savings amount can be entered or skipped for a number of years. In addition the registered, or open savings can be indexed if desired.
For illustrations of unregistered accumulation plans we have added a worksheet and chart to illustrate annual savings deposits with our without indexing at three assumed rates of growth. This is similar to our existing monthly illustration.
Under the "Insurance" menu tab we have added 2 new
templates
Our popular UL vs. Term or “Buy Term and Invest the Difference”
illustration has been revamped and reformatted to make it more presentable and
easier to follow.
We have copied this new format into a new template and chart for comparing Whole Life insurance to buying term and investing the difference. Due to the various dividend options it is necessary to make the comparison with the effect of dividends in the illustration.
Under the "Financial Planning " menu tab
Our “Financial Planning Questionnaire” has been set up so that it can now
be completed on a computer, or printed blank for printing. If completed on the
computer the totals will be automatically calculated. This will allow you to
complete the questionnaire in full, or in part for the client and email it to
them if they wish to complete it on their computer.
Miscellaneous Changes
The latest Federal & Provincial tax rates, as well as Old Age Security
rates for the third quarter of 2003 are included. We have also updated the
benefit rates for the GST credit and the Child Tax benefit programs with the
new rates effective July 1, 2003 to June 30, 2004. We have also made the “GST
Credit” & “Child Tax Credit” worksheets easier to use.
What's new in Financial Planning
Spreadsheet ©
Professional Version - Version 8.6?
Release Date April 3, 2003
We are pleased to enclose with this update Nine New Templates and two more calculators to the package. They are provided to you in this update, along with numerous other improvements to the existing reports. Our thanks to customers who have supplied ideas and our Beta Testers for their feedback. Four of the new templates will be useful to those doing divorce settlement planning. The others should be useful to all of our customers.
Under the "Loans" menu tab we have added 3 new templates
This release has an emphasis on debt management services with these
new templates and two new calculators described latter.
Accelerated Mortgage Amortization Schedule - Quick Pay
This worksheet works like our popular amortization schedule, but also has
some quick pay features. By entering an additional optional payment it displays
the interest saved and the earlier date to be paid off in years and months. To
quickly illustrate the benefit of applying a tax refund to the mortgage you can
also type an amount representing the lump sum beside the appropriate date in
column "A" and you instantly see the reduced amortization period, the
date the mortgage is paid off and the interest savings resulting from the extra
deposit(s). This will be a useful tool in assisting your clients with cash flow
planning and management of their debt.
Re-Financing Feasibility Analysis
This template examines the cost of re-financing and returns the pre-tax and
after-tax (if appropriate) payback period. Also provided is the total cash cost
of refinancing to the end of the new term. If the existing mortgage payment is
entered, the template automatically calculates the remaining term of the
existing mortgage.
Gross Debt Service Ratio & Total Debt Service Ratio
This template contains two reports for determining the client's "Gross
Debt Service Ratio" and "Total Debt Service Ratio." The two
standard evaluation formulas used by most lenders. In addition the template
will advise the amount of new financing that can be obtained using the
anticipated mortgage interest rate and amortization period.
Under the "Taxation" menu tab we have added 2 new templates
Income Analysis - After Separation / Divorce
This template will show the pre-tax income and after tax income, as well as
tax free income for both the client and spouse. It has been designed to
accurately compare different financial arrangements for a client negotiating a
separation or divorce agreement. A very detailed tax calculation can be made
right on this worksheet. Three other worksheets described on the
"Other" tab link their results into this template. Some of our
customer base assists clients at the time of divorce in evaluating the
financial arrangements of proposed income agreements.
RRSP Tax Shelter - Contribution Analysis
This template calculates the clients "RRSP room" and the results
for client and spouse. It shows the expected tax refund based on their marginal
tax rates. A section has also been provided to illustrate the cost and benefit
of a loan to purchase the RRSP and the reduced repayment period if the tax
refund is applied to the loan.
Under the "Insurance" menu tab we have added 1 new template
Critical Illness - Needs Analysis
This template allows you to forecast expenses the client might face if he
or she suffers a critical illness.
Under the "Other Reports & Forms" menu tab we have added 3 new templates
Canada Child Tax Benefit & Supplement
This tax-free benefit is paid monthly to those that qualify. It is based on
taxable income and number of dependants. This template will calculate the
expected benefit. The information on this worksheet is linked into the template
entitled, "Income Analysis - After Separation / Divorce" The results
will appear on that worksheet in the same column as the one receiving the child
support payments.
GST/HST Credit Calculation
This tax-free benefit is paid quarterly to those that qualify. It is also
based on taxable income and number of dependants. The results on this worksheet
are also linked to the "Income Analysis - After Separation / Divorce"
worksheet mentioned above.
Provincial Child Benefit Plans
In addition to the GST/HST Credit and the Child Tax Credit some Provinces
also offer their own income support programs such as Family Bonuses, Earned
Income grants and Subsidy of Medical Services premiums. The results on this
worksheet are also linked to the "Income Analysis - After Separation /
Divorce" worksheet mentioned above.
Changes to Existing Templates
The monthly and annual illustrations for RRSP plans have been amended to
reflect the minimum distribution rules for withdrawals after age 69 in the
interest of better illustrating a situation where the client wants maximum tax
deferral only, after age 69. The minimums have always been factored into our
RRIF, LIF & LRIF templates as well as level and target amounts.
Our "Funding Requirements for Retirement" templates have
been further improved by providing a column to the far right of the worksheet
to enter additional lump sums at more than one future date. This can also be
used to enter a year(s) with little, or no scheduled savings. This added
flexibility will be useful for a number of situations.
We have added two new calculators to the Financial calculators file. They are for calculating the "Taxable Equivalent Yield" calculator and the "Tax Free Rate Calculator." These two calculators are based on the clients marginal tax rate and are useful in some planning situations.
Miscellaneous Changes
The latest Federal & Provincial tax rates and credits, as well as
Income Security rates for the second quarter of 2003 are included.
All of our 39 chart pages can be edited by you as they are not
protected. We have extended this feature to the 10 reports with imbedded charts
so that you can make changes to these as well.
We continue to add to our "Owners Manual", add more
"Comment Flags" and simplify the data entry with default formula
entries to make the templates quicker to use. We recommend that if you have not
read the manual for some time that you print it out and look again. There are
many new features we have not talked about such as the "Clear Data"
button and the "Zoom" feature to mention just a few. All known bugs
as of this date have been fixed.
As always we welcome your feedback and thank you for your support. Our Financial Planning Spreadsheets © package has grown to 105 report templates and 39 chart templates. We hope that these changes and the new templates add value to our product for you in serving your clients.
What's new in Financial Planning
Spreadsheet ©
Professional Version - Version 8.5 ?
Release date January 20, 2003
We keep getting great suggestions from our customers on how to improve our product and we thank you for this.
As a result we are pleased to add six new templates to the package.
They are provided to you in this update.
Under the Investments menu tab we have added three new templates
Analysis of an R. R. S. P. vs. Mortgage Pay Down
This classic concept is presented on a pre-tax basis and compares the
effect of reduced interest charges by the alternative of paying down a
mortgage. Up to thirty years of compounding can be illustrated.
Analysis of Revenue Property Investment
This template produces a two-page report for analyzing a clients tax
situation from a revenue property investment. It then compares the return on
investment as well as the opportunity cost. At a time when some clients may be
looking at revenue property investments as an alternative, this report can help
you to show them the realities of investing in real estate.
RRSP Investment with Mortgage Pay Down
This spreadsheet illustrates the powerful combination of buying an RRSP and
using the tax refund to reduce a mortgage.
Under the Financial Planning menu tab we have added two new templates
Risk Tolerance Questionnaire
As a part of our new asset allocation template we have provided a seven
question “Investor Profile” which accurately identifies a client(s) attitudes
for risk. The client’s answers provide a total score, which automatically
identifies one of six asset allocations for them. This then gives a recommend
portfolio mix based on their Investor Profile. You can adjust the recommend
allocations for each asset class, or adjust the formulas to reflect your own
opinion.
This same Risk questionnaire has been added to our client questionnaire file as well for client use to replace the former “Investment Attitudes” page.
Asset Allocation Goals
This template automates the process of rebalancing the client(s) portfolio.
It works in conjunction with our new “Risk Tolerance Questionnaire” to identify
the “Investor Profile” then compares the asset allocation recommendation to the
actual client holdings. The holdings are picked up from the Portfolio Summary
spreadsheets. The holdings can be entered directly if you have not used the
portfolio report. As soon as the worksheet has been opened, the recommended
re-balancing of the portfolio is calculated showing the percentage and dollar
amount to be re-balanced. There are a total of 15 asset classes amongst the
four major asset categories. The asset classes are also adjustable.
Under the Other Reports & Forms menu tab we have added one new template.
Inflation Over the Last Thirty Years
This page shows the Consumer price Index for Canada for the last thirty
years.
More Importantly it has been designed to show the loss of purchasing power of $1.00 then and the amount required now to replace $1.00 the compounded inflation rate is calculated for the same period. This can be illustrated for any period during the last thirty years. We feel that this table will be helpful in assisting the client to choose a realistic inflation assumption for their financial planning and other forecasting.
Miscellaneous Changes
Income Security rates for the first quarter of 2003 are included along with
the new C.P.P. rates.
Our very popular "Funding Requirements for Retirement" had a problem with someone retiring the same year as their present age with no Open Assets. This has been dealt with.
What's new in Financial Planning
Spreadsheet ©
Professional Version - Version 8.4.1 ?
Release date October 3, 2002
As a result of suggestions received from our recent training seminar, we have incorporated a large number of changes into this release. We are releasing six new templates at this time. In addition the Funding Requirements for Retirement templates have been dramatically improved. Over half of the existing templates have had changes since the last release.
Under the Investments menu tab we have added two new templates
Leveraged Investment Portfolio with Universal Life
This page illustrates a leverage loan with tax deductible interest and the
tax refund used to fund a universal life policy.
R. R. S. P. vs. Same Amount to Reduce Leverage Loan
This page compares the purchase of an RRSP with the same amount used to
service an Investment loan each year for a chosen period.
Under the Financial Planning menu tab we have added
Checklist for a Comprehensive Financial Plan
This checklist follows the six step financial planning process required of
members of the Canadian Association of Financial Planners.
Financial Planning Recommendations - narrative page(s)
This page has been added to simply allow for more in depth recommendations
in the same format as the other report pages.
Under the Loans menu tab we have added
Debt Service Strategy
This worksheet is designed to plan a strategy, or program for the client to
follow in reducing their debt load. Provision has been made for entering a
future extra payment at a future date. Such as applying a year-end bonus to the
account. Likewise a larger than normal purchase can be entered for any month.
Under the Calculators menu tab we have added
A new template "Tax Estimator" This calculator was designed to
calculate taxes for the coming year quickly. For involved tax situations the
normal tax templates would be recommended.
Some of the biggest changes in this release are to the existing
templates
Probably the most significant are the changes to "Funding Requirements
for Retirement" As this is by far our most popular template we have put a
lot of work into incorporating changes received at this summers training
seminar. We have added four drop down lists which allow you to select for
indexing of any income source and provision for future lump sum additions to
the portfolio as well as changing future inflation assumptions. We have also
made the print out easier to follow as well as detailed breakdowns of all the
calculations to the right of the template reports.
The client Data file has been improved with more information such as Date of Birth, Salary, Marginal Tax Rate, Age this year and Age nearest birthday, being linked from the Data.xls file to all spreadsheets. If you enter a salary item the formulas will calculate the marginal tax rate for you.
When you open the Financial Planning Spreadsheets © menu a message box will now ask if you are starting a new financial plan. If you select "Yes" it opens a new Data file, if "NO" it displays the Financial Planning Spreadsheets © menu so you can choose a template to work directly in. From the Menu screen you can now select the Zoom level for all templates. We have renamed some of the menu item labels to a more generic description to make it easier to find the template you want. All cells without formulas have been unprotected, even empty cells.
The "Estate Capital Needs Analysis" has been made more flexible by allowing you to set the age that a survivors income is to be provided for. The report has been made easier to read and tables to the right of the report have been simplified for viewing the breakdown of all of the calculations.
RRSP vs.. Leverage has been amended to allow an interest only loan to be illustrated. As well an RRSP can be compared with the same amount invested being applied to reduce a leverage loan
All of the reports in Portfolio.xlt have been amended so that all holdings by a Corporation, or a Family Trust can be illustrated together on the same portfolio reports.
All of the templates in Tax.xlt now show the client and spouse Marginal Tax Rate in the Notes section of each report. The Dividend Tax Credit has been simplified by the use of internal formulas. The C.P.P & E.I. credits now have a drop down list which allows you to select the appropriate amount, or type over it.
Both templates for UL versus Term have been expanded to allow for more variables to be illustrated.
Miscellaneous Changes
Income Security rates for the fourth quarter of this year are included
along with all published Provincial tax changes to date.
We have again linked a lot more of the cells and used default
entries so as to reduce the data entry time. In total 75 of the 139 templates
have had some changes aimed at making them better and easier for you to use. On
templates that require a fair bit of data entry such as ACB, or Portfolio you
will find a button entitled "FPS Clear" on the top menu bar. Pressing
that button will clear are the blue colored cells on the active worksheet. All
known bugs have been fixed as of the date of this release.
Easier Log-in for downloading. We have assigned our entire customer base a simpler UserID and password for downloading updates. As there was some confusion about the hyphen and whether a password was a zero or the letter O, we find that it is easier to change the system. In future your download will be the surname of the registered user followed by the first initial of the given name and your client account number. No spaces, or hyphens. The password will be a letter, number, letter, number. After logging in you will be able to change your password for future use.
We appreciate the suggestions we have received from our customers and are proud to report that we have been able to implement all of the suggestions received from our seminar. As always we welcome your feedback. We hope that these changes and the new templates will assist you and your clients.
What's new in Financial Planning
Spreadsheet ©
Professional Version - Version 8.3.2?
Release date July 11, 2002
The very popular Rates of Return table and chart have been completely revised and expanded to show returns for 8 different market indexes over the last 20 years with more Canadian content indexes.
Income Security rates for the third quarter of this year are included along with all published Provincial tax changes to date.
We have continued the work incorporated in the last update to make all of the templates more uniform in their presentation layout. We have linked even more of the cells so as to further reduce the data entry time.
The one version of the program can now be installed on Microsoft Office, Microsoft Excel 2003, XP (2002), or 2000 or higher, as well as all of the new Microsoft operating systems.
What's new in Financial Planning
Spreadsheet ©
Professional Version - Version 8.3?
Release date April 09, 2002
Nine templates have been added to the package. Six are new reports
and three are new charts.
Under the Education menu tab we have added:
A new template “Estimated Savings Required for College” and chart has been
added to illustrate the escalating cost of college costs. Formulas have been
included to indicate the monthly savings required to reach the future college
costs.
On all worksheets the formulas have been adjusted to only calculate
the grant while the beneficiary(s) is less than 18 years of age. We have
expanded the options for multiple beneficiaries so that the inputs can be
different for each beneficiary under the family plan.
Under the Loans menu tab we have added:
A template called “Lease versus Purchase Analysis”. This new template
allows you to compare a cash purchase to a loan and to a lease contract. The
template takes into account the time value of money and provides the net cost
for the period of each scenario.
Under the Insurance & Estate Planning menu tab we have added:
Comparison of Charitable Gift as Cash versus Gifting Security
A new template report with chart have been added to highlight the cash and
tax advantages of donating securities to a Charity instead of cash.
Charitable Legacy Investment Plan:
This is a new template concept that has been developed by us to illustrate
the potential for “Charitable Gifting” by combining the tax efficiency of using
a “Systematic Withdrawal Plan” (SWP) and the gifting of securities to a
charity. This will appeal to a donor who wishes to fund a project for a number
of years in the future and wants to be sure that funds will be available to
provide for the endowment to be paid out.
We hope that these new templates will assist you and your clients
in their planned giving goals and we welcome your feedback.
UL vs. Term illustrations
This template has been expanded by two more templates to make it easier to
understand and to use. The new template has a report and chart to compare the
term insurance to the UL policy only. The other templates in this file compare
this, plus a side fund deposit, which some found confusing to use. They have
been retained under separate templates.
Under the Financial Planning menu tab we have added:
Linking from the Annual Cash Flow categories to all of the monthly
categories.
If you are using both worksheets in a financial plan you need only
enter it once. One twelfth of the annual total is entered into the January
column of the Monthly template. It then repeats across the page for each month.
You can edit all of the entries.
Under the Retirement menu tab we have added:
A new template & chart for Annual RRIF plans to complement the
template for monthly RRIF plans. As those drawing the minimum often use an
annual payout we have had requests for this as a separate template.
Miscellaneous Changes:
Income Security rates for the second quarter of this year are included
along with all published Provincial tax changes to date.
We have added a second chart to some of the chart pages to
illustrate the concepts from two different perspectives where this has been
appropriate.
A great deal of formatting has been done to make all of the
templates more uniform in their presentation layout. We have linked a lot more
of the cells so as to reduce the data entry time.
The one version of the program can now be installed on any version of Excel 2000, or higher, as well as all new Microsoft operating systems.
What's new in Financial Planning
Spreadsheet ©
Professional Version - Version 8.2?
Release date January 09, 2002
The Analysis.xlt file has been expanded and now provides even more
information, both on the report and on the expanded Analysis charts. You will
find that this report now allows greater customization and additional areas of
information.
A new template and chart has been added to the Analysis file
entitled:- ANALYSIS OF INVESTMENT PORTFOLIO & INCOME - this template
was designed to calculate the tax liability from year end distributions. It
also shows the income for the year from the portfolio and the unrealized gain
in a report and chart format. It should also be helpful in identifying tax loss
selling opportunities. As always any feedback will be appreciated.
Pensions. xlt
We have revised the pension file to handle an even greater range of pension
benefit formulas. In addition we have made it simpler to use by combining the
input sheet into the Defined Benefit page. We have also made the LIF & LRIF
templates easier to use and to audit the calculations.
Rates.xls
This update includes the new Canada Pension rates for 2002 and Old Age
Security rates for the first quarter of 2002. New tax rates apply for many
provinces. this update includes the latest new tax credits for provincial
income taxes. Two provinces have gone to a fourth provincial tax bracket for
2002. The templates have been revised to reflect these new calculations.
All files are replaced with this update which fixes any known bugs
and contains a number of formatting enhancements to many of the templates. Many
new links have been added to make the data entry even quicker.
Microsoft Office XP
We have made changes to the program to make it compatible with the new
Office XP suite of products. Our software can now be used with any version of
Office (or Excel) XP, 2000, or 97. As many of our customers run our software on
their office computer and on their notebook they now only need one copy of the
program for any installation.
What's new in Financial Planning
Spreadsheet ©
Professional Version - Version 8.1?
Release date October 01, 2001
This is a major upgrade to a whole new program. This release has 78
reports, plus 34 charts, 15 display calculators and now our 11-page
questionnaire. There are five new templates in this release, as well as 3 new
charts. Sixteen of the existing templates have had major revisions. There are
also numerous formatting enhancements and all known bugs have been addressed.
Some of the highlights are:
A menu system from your desktop which allows you to choose the report you
want from nine different categories, such as Financial Planning, Investments,
Insurance, etc. This will make it easier to find the one you want and open it
quickly. Clicking on any of the menu items will open the spreadsheet chosen.
With over 127 different items now in the package you can appreciate that we
needed to make it easier to find things.
Our Financial Planning Questionnaire has been incorporated into the
package as a Microsoft Excel template for your use.
Almost all of the templates have been unprotected in every cell if
they do not contain a formula. This will allow you to edit the text, labels,
notes etc. on your own to create your own personalized reports.
This update includes the new Old Age Security rates for the fourth quarter of 2001 as well as the latest new tax credits for provincial income taxes. All files are replaced in this revision as we have changed the way the program works to make it easier to use.
What's new in Financial Planning
Spreadsheets ©
Version 7.2?
Release date August 02, 2001
New Template
A new template worksheet has been added to the Pensions.xlt file for Locked
Retirement Income Funds (LRIF's). Four provinces now have legislation allowing
this product to be used. They are Alberta, Manitoba, Quebec and now
Saskatchewan. The template has been designed along the lines of our popular LIF
spreadsheet. It shows the Minimum, Target and Maximum withdrawals allowed under
the legislation.
Amortize.xlt - MORTGAGE AMORTIZATION SCHEDULE
We have expanded the available options for this schedule. You can now
calculate amortization schedules for four different compounding frequencies:
Annual, Semi-annual, Bi-weekly and Monthly compounding. In addition four
different payment options can be selected and schedules printed. This now
allows 16 different payment options. After entering the basic loan particulars
you can view the effect of different payment options and/or compounding periods
at the right side of the schedule.
Rates.xls Provincial Tax Rates
This update includes the Provincial income tax rates for each province and
territory updated as per their spring budgets. Provincial Tax credits are also
included where they have been announced. Please note that there are differences
between the Provinces in their tax credits. Please refer to the Provinces
worksheet in the Rates.xls file for further details. Old Age Security rates are
included for the third quarter of 2001.
As a result of the Tax on Net Income System (TONI) there may be
planning opportunities available for some clients. The tax rates between
provinces and their credits are beginning to vary widely now that the provinces
have more leeway under the TONI system to set their own incentives.
Tax.xlt
The calculation for charitable deductions has been simplified by combining
the two tax credits into one formula.
Keep your templates up to date. Please pass this e-mail on to your
computer support people for installation. Or, you can easily do it yourself by
following the steps below.
For simplicity and accuracy this upgrade includes all template files in the entire package. In this way you will know you have the latest version of all templates. The install program will replace all files on your computer that are in the "Financial Planning" folder, other than the Registered User.xls file. Therefore if you have done any special formatting of your existing templates, you should back them up to a different directory before installing the download.
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