The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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Reconsidering when to take CPP benefits amid COVID-19 risk Apr 15th
In an earlier column, we looked at how to optimize the timing for taking your Canada Pension Plan benefits—early or late. We also touched on the issue of “survivorship,” mentioning retired advisor Warren Baldwin, who decided to take his own CPP at age 66, in part because of limited options for.... More »
My Favourite Canadian Dividend Stocks + MORE Jul 11th
Save, invest, prosper with My Own Advisor.
My Favourite Canadian Dividend Stocks This is a guest contribution by Nick McCullum of Sure Dividend. Sure Dividend uses The 8 Rules of Dividend Investing to systematically identify high-quality dividend stocks suitable for long-term investment. Sure Divi.... More »
Let's all chill for a moment about Microsoft buying Activision Blizzard - MobileSyrup Jan 22nd
Let's all chill for a moment about Microsoft buying Activision Blizzard MobileSyrupRep. Marjorie Taylor Greene sold up to $15,000 worth of Activision Blizzard stock on the day Microsoft announced plans to buy the video game company YahooMicrosoft’s $68-billion bid to become t.... More »
Best online banks and credit unions in Canada for 2024 + MORE Mar 20th
Where can you get the best digital banking experience in Canada? We set out to find out in this inaugural review of the best online banks and credit unions in Canada. To come up with the ranking, MoneySense partnered with Surviscor, a leading Canadian research and consulting firm specializing in fin.... More »
The best GIC rates in Canada for 2025 + MORE Dec 29th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Why can’t I deduct mortgage interest?
– moneysense.ca
Q: Why is the mortgage interest on a home or condo not deductible when it’s our principal residence?— Brendan A., St. Albert, Alta.
Answer from Steve Garganis, mortgage broker and editor of CanadaMortgageNews.ca:
In the United States, homeowners can deduct the mortgage interest from their personal income as a tax deductible expense. Sounds great, but keep in mind they also have to pay capital gains tax on any profit they made if the home increased in value. For instance, if they bought for US$200,000 and sold for US$500,000, that U.S. citizen would have to pay capital gains tax on the US$300,000 profit. That could be quite a tax bill.
In Canada, we have the benefit of being able to sell our principal residence and keep all the profit, tax free. On the flipside, we aren’t able to claim the mortgage interest as a tax deductible expense. But this only applies to your principal residence.
On an investment property, you are allowed to claim the mortgage interest as a tax deductible expense…
Pay down your mortgage faster to save in interest
– moneysense.ca
OTTAWA – When shopping for a mortgage, most Canadians focus on the interest and how much they can save with a lower rate.
But paying a few extra dollars every two weeks instead of the usual monthly payment or making an extra lump sum payment once a year can also save borrowers thousands in interest and shorten the time it takes to pay off a mortgage by years.
How mortgage payments work »
Wade Stayzer of Meridian Credit Union says homeowners need to understand of how much they can afford to pay and work from there.
“You really need to understand your personal financial situation and what it is you’re trying to accomplish,” said Stayzer, Meridian’s vice-president of sales and service.
The rules governing how much borrowers can increase payments or put down in a lump sum vary depending on the mortgage contract, so it’s important to read the fine print.
For those looking to pay off a mortgage faster and can afford it, Stayzer recommends increasing regular payments over saving up and making an annual lump sum payment…
But paying a few extra dollars every two weeks instead of the usual monthly payment or making an extra lump sum payment once a year can also save borrowers thousands in interest and shorten the time it takes to pay off a mortgage by years.
How mortgage payments work »
Wade Stayzer of Meridian Credit Union says homeowners need to understand of how much they can afford to pay and work from there.
“You really need to understand your personal financial situation and what it is you’re trying to accomplish,” said Stayzer, Meridian’s vice-president of sales and service.
The rules governing how much borrowers can increase payments or put down in a lump sum vary depending on the mortgage contract, so it’s important to read the fine print.
For those looking to pay off a mortgage faster and can afford it, Stayzer recommends increasing regular payments over saving up and making an annual lump sum payment…
Initial public offerings scheduled to debut next week
– canadianbusiness.com
NEW YORK, N.Y. – The following is a list of initial public offerings planned for the coming week. Sources include IPO ETF manager Renaissance Capital, and SEC filings.
Week of June 27:
Global Medical REIT – Bethesda, MD, 9.1 million shares priced at $10-12, managed by Wunderlich Securities/Oppenheimer & Co. Proposed NYSE symbol GMRE. Business: Healthcare REIT with a portfolio of 12 facilities.
Syros Pharmaceuticals – Cambridge, MA, 4 million shares priced at $14-16, managed by Cowen & Company/Piper Jaffray. Proposed Nasdaq symbol SYRS. Business: Developing gene expression therapies based on non-coding DNA research.
Long island iced Tea Corp – Hicksville, NY, 1.5 million shares priced at $6.50, managed by Network 1 Financisl Securities/Axiom Capital Management. Proposed Nasdaq symbol LTEA. Business:Producer and distributor of non-alcoholic ready to drink iced tea.
The post Initial public offerings scheduled to debut next week appeared first on Canadian Business – Your Source For Business News.
Week of June 27:
Global Medical REIT – Bethesda, MD, 9.1 million shares priced at $10-12, managed by Wunderlich Securities/Oppenheimer & Co. Proposed NYSE symbol GMRE. Business: Healthcare REIT with a portfolio of 12 facilities.
Syros Pharmaceuticals – Cambridge, MA, 4 million shares priced at $14-16, managed by Cowen & Company/Piper Jaffray. Proposed Nasdaq symbol SYRS. Business: Developing gene expression therapies based on non-coding DNA research.
Long island iced Tea Corp – Hicksville, NY, 1.5 million shares priced at $6.50, managed by Network 1 Financisl Securities/Axiom Capital Management. Proposed Nasdaq symbol LTEA. Business:Producer and distributor of non-alcoholic ready to drink iced tea.
The post Initial public offerings scheduled to debut next week appeared first on Canadian Business – Your Source For Business News.
CTV NewsHere's a look at what the vote means for the world economy.CTV NewsFRANKFURT — Britain's vote to leave the European Union adds a heavy dose of uncertainty to a world economy that is still struggling to reach full speed years after the global financial crisis. The most immediate pain will be felt in Britain. But …So how exactly does Britain break up with the EU, anyway?Macleans.caMarkets reel as world absorbs shock of UK vote for BrexitTheChronicleHerald.caGet out quickly, EU urges UK after vote triggers crisisToronto StarThe Globe and Mail (subscription) -National Post -CNN -Globalnews.caall 9,548 news articles »
A sea of red washed over global financial markets on Friday in reaction to Britons’ shocking vote to Brexit the European Union, with the British pound down to its lowest point since 1985 and the Canadian dollar lost more than a cent against the U.S. dollar.
