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Canadians still in the dark about investment fees despite major changes in disclosures + MORE Jan 19th
Despite the introduction of a new report meant to increase fee transparency, surveys show few Canadians feel they grasp the true cost of financial advice
.... More »
HISAs vs. bonds and GICs: Where should Canadians hold their cash? + MORE Dec 18th
“Bonds are back,” you may have read on a financial news site or heard a financial advisor say recently. True enough, money is flowing into these fixed-income investments at the highest rate in years, and for good reasons.
In fact, Canadian savers have an abundance of good choices right now f.... More »
When does the “plus 1” rule apply to a principal residence? + MORE Jan 23rd
If I am willed a house and prefer to sell my primary residence to move into the inherited house, do I pay capital tax on the sale of my house?Is it better to be on title of the house I will inherit, even though I own another house, or leave it as an inherited house only to save taxes?—Doris
Tax.... More »
Foreign home buyers surge 37 per cent in Montreal on growth in Chinese purchases + MORE Jun 22nd
Canada’s federal housing agency says the number of foreign buyers in the Montreal area surged by 37 per cent in the first four months of the year.
The 236 purchases by foreigners accounted for 1.8 per cent of all real estate transactions from January to April, the Canada Mortgage and Housing C.... More »
Where to find and apply for COVID-19 financial relief Oct 5th
The COVID-19 outbreak has dealt a shock to our economy, shuttering entire industries and leaving many more businesses in limbo, forcing layoffs and loss of income on many people. Fortunately, the Canadian government and several other institutions are offering financial relief for Canadians during th.... More »
Sweeping changes to Canada’s mortgage lending rules could push more borrowers into the unregulated, shadow banking segment of the market, creating a new pocket of risk in the financial system, industry insiders say.
Brain tricks for better investing, the benefits of low-yield dividend stocks, and a new loonie outlook
– theglobeandmail.com
A roundup of investment ideas for active investors
New TMX innovation panel aims to give Canadian startups a boost
– theglobeandmail.com
The stock exchange operator is creating the 12-person roundtable with executives to help small tech companies expand
Australian bank reinstates traders still under legal cloud
– canadianbusiness.com
CANBERRA, Australia – An Australian bank chief executive told a parliamentary committee on Wednesday that traders implicated in market manipulation allegations had been suspended then reinstated without those accusations being judged by a court.
The Australian Securities and Investments Commission, the financial regulator, is suing the ANZ Banking Group in the Federal Court for unconscionable conduct and market manipulation in relation to ANZ’s involvement in setting the bank bill swap reference rate from 2010 to 2012. The bank has denied the allegations.
The rate sets the price of business between banks and other institutions. Rigging the rate can increase profits for both banks and traders.
ANZ chief executive Shayne Elliott told the House Standing Committee on Economics that the bank initiated an internal investigation and suspended “a handful of people” after the regulator raised its allegations. Media reports said seven traders had been suspended on November 2014…
The Australian Securities and Investments Commission, the financial regulator, is suing the ANZ Banking Group in the Federal Court for unconscionable conduct and market manipulation in relation to ANZ’s involvement in setting the bank bill swap reference rate from 2010 to 2012. The bank has denied the allegations.
The rate sets the price of business between banks and other institutions. Rigging the rate can increase profits for both banks and traders.
ANZ chief executive Shayne Elliott told the House Standing Committee on Economics that the bank initiated an internal investigation and suspended “a handful of people” after the regulator raised its allegations. Media reports said seven traders had been suspended on November 2014…
RRSPs, DCPPs, CPP, oh my!
– moneysense.ca
Q: I’m 56 and would like to retire at 60. I have a defined contribution pension plan. Would it be wise to draw RSP only until 65 and leave CPP and DCP to grow?
—Daniel
A: I find there can be a lot of confusion around Defined Contribution (DC) pension plans, so let’s seek to clarify some things, Daniel.
First off, you ask about whether you should start to draw from your RRSP at age 60 when you retire. You don’t have to take any withdrawals before age 72, at which point a minimum annual withdrawal is required based on a percentage of the account value. Sometimes, you need to take withdrawals early because you simply need the cash flow, but sometimes, even if you have other non-registered savings or investments, early RRSP withdrawals can be wise to smooth your income and tax payable during retirement.
I think it’s important to target the least amount of lifetime tax as opposed to the least amount of tax today without regard for the future. This is particularly important when you might not only be paying more tax with delaying RRSP withdrawals, but also losing entitlement to government benefits like Old Age Security (OAS) and Guaranteed Income Supplement (GIS)…
