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Dow leads stocks up after GDP data as banks rally: Stock market news today - Yahoo Canada Finance Jun 29th
Dow leads stocks up after GDP data as banks rally: Stock market news today Yahoo Canada FinanceStocks Climb Before the Open as Investors Await Key U.S. GDP Data, Nike Earnings on Tap BarchartNASDAQ 100, Dow Jones, S&P 500: Edging Lower as Investors Await Powell’s Insights.... More »
If we're OK with government meddling in housing, what else is fair game? + MORE Apr 26th
Canadians seem in favour of government stepping in to intervene in Canada's housing market. But what would the reaction be if governments started meddling in the value of our retirement portfolios or other assets? Peter Armstrong dives in..... More »
How to Make Your Office More Sustainable Feb 14th
If the walls of Avison Young’s new Edmonton headquarters could talk, they might want to brag about their new threads. To up its sustainability factor, the real estate firm has insulated its new office with recycled denim jeans—210 pairs to be exact, mechanically separated and formed into batts, .... More »
Toll highways in Toronto could pave way for other cities + MORE Nov 25th
Vehicles makes there way into and out of downtown Toronto along the Gardiner Expressway in Toronto. THE CANADIAN PRESS/Nathan Denette
TORONTO – The mayor of Canada’s most populous city announced a plan Thursday to impose tolls on two major highways in and out of Toronto’s downtown .... More »
Dow Jones Futures Fall On Global Trump Tariff Hikes, Amazon Earnings; Jobs Report Due - Investor's Business Daily Aug 1st
Dow Jones Futures Fall On Global Trump Tariff Hikes, Amazon Earnings; Jobs Report Due Investor's Business DailyTrump tariffs live: stock markets fall after US announces new rates on 92 countries The GuardianStocks Drop as Trump’s New Tariffs Weigh on Markets The Ne.... More »
American golfer Phil Mickelson must repay $931,000 US he made from insider trading on stock in a company called Dean Foods in 2012.
Active vs. passive: Why fees make a difference
– moneysense.ca
The debate between active and passive investors can lead to confusion at times. It’s common to hear passive do-it-yourself (DIY) investors highlight the fact that most mutual funds lag the market. But it’s an argument that usually neglects a few salient points.
First, investing in an index costs money. Practically speaking, most passive investors buy index mutual funds or exchange traded funds (ETFs) and their performance will be diminished by the fees levied by these funds. When deciding between taking an active or passive approach it seems unwise to compare the performance of an index without fees to that of a fund on an after-fee basis.
I hasten to add that good index ETFs charge very little these days and it’s a big reason why they’re rightly prized by passive DIY investors.
The second issue is also fee-related. While it is true that the average active fund in Canada charges more than the average index fund, the active funds usually come with individualized advice whereas the index funds do not…
First, investing in an index costs money. Practically speaking, most passive investors buy index mutual funds or exchange traded funds (ETFs) and their performance will be diminished by the fees levied by these funds. When deciding between taking an active or passive approach it seems unwise to compare the performance of an index without fees to that of a fund on an after-fee basis.
I hasten to add that good index ETFs charge very little these days and it’s a big reason why they’re rightly prized by passive DIY investors.
The second issue is also fee-related. While it is true that the average active fund in Canada charges more than the average index fund, the active funds usually come with individualized advice whereas the index funds do not…
The right way to use a spousal RRSP
– moneysense.ca
Q: I earn $30,000 per year at a part-time job and collect $48,000 in pension. My husband still works and earns $85,000 annually, but has no pension. Should I contribute to a spousal RRSP to lower his income and improve his retirement portfolio?
— AnnMarie Wolf, Toronto
A: Spousal RRSPs are a great tool to spread out a retirement nest egg and reduce income tax. But in your case, a regular RRSP for your husband works best. “Even after the additional income, his marginal tax rate is at least a few percentage points higher than hers, so he’d benefit more by making his own RRSP contributions,” says Noel D’Souza, a Toronto CFP with Money Coaches Canada. Another reason not to contribute to a spousal RRSP: Any investment you make uses up your RRSP contribution room, not your husband’s, and lowers your taxable income, not his. Instead, you should take on more household expenses, freeing up your husband’s income to maximize his RRSP contributions. In retirement, you want your incomes to be as close as possible, to minimize the tax you pay as a couple…
— AnnMarie Wolf, Toronto
A: Spousal RRSPs are a great tool to spread out a retirement nest egg and reduce income tax. But in your case, a regular RRSP for your husband works best. “Even after the additional income, his marginal tax rate is at least a few percentage points higher than hers, so he’d benefit more by making his own RRSP contributions,” says Noel D’Souza, a Toronto CFP with Money Coaches Canada. Another reason not to contribute to a spousal RRSP: Any investment you make uses up your RRSP contribution room, not your husband’s, and lowers your taxable income, not his. Instead, you should take on more household expenses, freeing up your husband’s income to maximize his RRSP contributions. In retirement, you want your incomes to be as close as possible, to minimize the tax you pay as a couple…
Climb into a higher tax bracket—and save money
– moneysense.ca
In Canada’s graduated income tax system, knowledge of steadily rising tax brackets is essential, both on the wealth accumulation and eventually the income-drawdown phases.
If you’re still in the first phase and making a high earned income, you have little choice but to pay increasingly higher percentages of income tax on earned income; added to that is investment income. But if you’re in the later phase, or planning for it in the next decade or so, paying attention to tax brackets can save you tens and even hundreds of thousands of dollars.
“Most people misinterpret how our tax system works,” says Doug Dahmer, founder and CEO of Emeritus Financial Strategies. “They fail to understand that taxes are applied on bands of income, where different and increasing rates of tax are applied to each band. Each of these bands is known as a bracket.”
Strategically, the key concept is what Robert Armstrong, BMO’s Vice President, Head of Managed Solutions, terms “topping up to bracket…
If you’re still in the first phase and making a high earned income, you have little choice but to pay increasingly higher percentages of income tax on earned income; added to that is investment income. But if you’re in the later phase, or planning for it in the next decade or so, paying attention to tax brackets can save you tens and even hundreds of thousands of dollars.
“Most people misinterpret how our tax system works,” says Doug Dahmer, founder and CEO of Emeritus Financial Strategies. “They fail to understand that taxes are applied on bands of income, where different and increasing rates of tax are applied to each band. Each of these bands is known as a bracket.”
Strategically, the key concept is what Robert Armstrong, BMO’s Vice President, Head of Managed Solutions, terms “topping up to bracket…
Conrad Black fights liens for unpaid taxes placed on Toronto mansion
– canadianbusiness.com
TORONTO – Conrad Black is fighting two liens that have been placed on his Toronto mansion that claim he owes more than $15 million in unpaid taxes.
The former media mogul filed a notice of application Wednesday with the Federal Court for a judicial review of the liens.
The liens were filed against Black’s home on May 6 and May 10, alleging that he owes taxes from 2002, 2003 and 2008.
The Canada Revenue Agency claims that Black is in arrears in the amounts of $12,307,717 and $3,513,877.
In his notice of application, Black claims the national revenue minister used information that contained “material omissions and inaccuracies” and wasn’t “full and frank” when applying to the court for the liens.
The document also says there are reasonable grounds to doubt CRA claims that payment would be jeopardized if the collection of the taxes were delayed.
According to the Multiple Listings Service, which tracks real estate sales, Black sold his 23,000-square foot property in the tony Bridle Path neighbourhood to an undisclosed buyer for $16…
The former media mogul filed a notice of application Wednesday with the Federal Court for a judicial review of the liens.
The liens were filed against Black’s home on May 6 and May 10, alleging that he owes taxes from 2002, 2003 and 2008.
The Canada Revenue Agency claims that Black is in arrears in the amounts of $12,307,717 and $3,513,877.
In his notice of application, Black claims the national revenue minister used information that contained “material omissions and inaccuracies” and wasn’t “full and frank” when applying to the court for the liens.
The document also says there are reasonable grounds to doubt CRA claims that payment would be jeopardized if the collection of the taxes were delayed.
According to the Multiple Listings Service, which tracks real estate sales, Black sold his 23,000-square foot property in the tony Bridle Path neighbourhood to an undisclosed buyer for $16…
