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.
Latest News
TFSA vs RRSP: How to decide between the two Jun 28th
One of the most common questions out there is whether to invest in a registered retirement savings plan (RRSP) or a tax-free savings account (TFSA). Both will help you save, and save on taxes, but each works in different ways. Understanding these investments will help you know when to use one or the.... More »
Your home sold—now what? + MORE Apr 1st
If you’ve sold your home or are planning to soon, you may have a large amount of cash that needs a temporary parking spot while you prepare for your next move. A regular savings account pays very little interest—so unless you need the money right away, it makes sense to seek higher returns.
S.... More »
Apple unveils an upgraded Siri voice assistant with new AI features at its annual conference - Sault Michigan News Jun 8th
Apple unveils an upgraded Siri voice assistant with new AI features at its annual conference Sault Michigan NewsTech stocks today: Apple stock falls after a long-awaited AI Siri update Yahoo FinanceApple partnering with Google and Nvidia for most advanced AI model CN.... More »
“Everything companies”: How Amazon’s playbook is reshaping competition in Canada + MORE Oct 28th
Canadian companies are nowhere near the size and scale of Amazon, but some of our most beloved brands now see themselves less as industry leaders and more as collections of varied financial assets. Consumers think of companies as offering goods and services, but this is not necessarily how companies.... More »
WhatsApp clarifies privacy practices after surge in Signal and Telegram users - The Verge Jan 12th
WhatsApp clarifies privacy practices after surge in Signal and Telegram users The VergeSignal sees meteoric rise in daily installs as people look for WhatsApp alternatives The Globe and MailDownloads of Signal messaging app skyrocket after WhatsApp reveals it will share user da.... More »
Do’s and don’ts of year-end tax planning
– moneysense.ca
Want to get ahead of next year’s tax-time crunch? Follow these do’s and don’t’s of year-end tax-planning.
DO:
1. Donate shares instead of cash. Not only do you get the charitable donation deduction, but by donating the shares you’re not subject to capital gains tax.
2. Open a TFSA when you turn 18. If you were 18 when TFSAs were created in 2009, your current contribution room has reached $46,500. Contribution room grows by $5,500 each year.
3. Review your debts. The interest paid on money used to earn business or generate investment income can be used as a tax deduction.
4. If you need to purchase a car or musical instrument for work, do so at the end of the year to enjoy the benefit of accelerated capital cost allowance claims.
DON’T:
1. Purchase mutual funds or ETFs at year end. Wait until the new year to avoid paying tax on the fund’s annual income (that you never received).
2. Claim donations. Save up all charitable gifts for two or more years to take advantage of the First-Time Donor’s Super-Credit…
DO:
1. Donate shares instead of cash. Not only do you get the charitable donation deduction, but by donating the shares you’re not subject to capital gains tax.
2. Open a TFSA when you turn 18. If you were 18 when TFSAs were created in 2009, your current contribution room has reached $46,500. Contribution room grows by $5,500 each year.
3. Review your debts. The interest paid on money used to earn business or generate investment income can be used as a tax deduction.
4. If you need to purchase a car or musical instrument for work, do so at the end of the year to enjoy the benefit of accelerated capital cost allowance claims.
DON’T:
1. Purchase mutual funds or ETFs at year end. Wait until the new year to avoid paying tax on the fund’s annual income (that you never received).
2. Claim donations. Save up all charitable gifts for two or more years to take advantage of the First-Time Donor’s Super-Credit…
Fed raises key interest rate for first time in year
– canadianbusiness.com
WASHINGTON _ The Federal Reserve is raising a key interest rate for the first time in a year, reflecting a resilient U.S. economy and expectations of higher inflation. The move will mean modestly higher rates on some loans.
The Fed is signalling that additional rate increases will likely be made slowly as the economy improves and inflation edges closer to the Fed’s 2 per cent target.
The central bank is increasing its benchmark rate by a quarter-point to a still-low range of 0.5 per cent to 0.75 per cent. The Fed last raised the rate in December 2015 from a record low near zero set during the 2008 financial crisis.
President-elect Donald Trump’s plans for tax cuts and infrastructure spending have led investors to expect that inflation will pick up in coming months.
The post Fed raises key interest rate for first time in year appeared first on Canadian Business – Your Source For Business News.
The Fed is signalling that additional rate increases will likely be made slowly as the economy improves and inflation edges closer to the Fed’s 2 per cent target.
The central bank is increasing its benchmark rate by a quarter-point to a still-low range of 0.5 per cent to 0.75 per cent. The Fed last raised the rate in December 2015 from a record low near zero set during the 2008 financial crisis.
President-elect Donald Trump’s plans for tax cuts and infrastructure spending have led investors to expect that inflation will pick up in coming months.
The post Fed raises key interest rate for first time in year appeared first on Canadian Business – Your Source For Business News.
Toro agrees to buyout by ARC Financial-owned oil firm
– theglobeandmail.com
Toro shares jump 60% after oil-patch junior agrees to $44-milllion buyout from Steelhead Petroleum
General Motors to invest $334M in 3 New York state plants
– canadianbusiness.com
TONAWANDA, N.Y. _ General Motors will invest $334 million in three plants in upstate New York.
The company announced the investments Wednesday at an event with Gov. Andrew Cuomo at its plant in Tonawanda, just north of Buffalo.
The money will pay for new equipment and machinery needed to produce next-generation engines and other automotive components.
New York state agreed to provide up to $7 million in grants and tax breaks to support the upgrades. State officials say the company’s investment will create 67 new jobs at Tonawanda and protect nearly 2,000 jobs overall at the plants in Tonawanda, nearby Lockport and in Rochester.
General Motors employs 4,200 people in manufacturing jobs around New York state.
The post General Motors to invest $334M in 3 New York state plants appeared first on Canadian Business – Your Source For Business News.
The company announced the investments Wednesday at an event with Gov. Andrew Cuomo at its plant in Tonawanda, just north of Buffalo.
The money will pay for new equipment and machinery needed to produce next-generation engines and other automotive components.
New York state agreed to provide up to $7 million in grants and tax breaks to support the upgrades. State officials say the company’s investment will create 67 new jobs at Tonawanda and protect nearly 2,000 jobs overall at the plants in Tonawanda, nearby Lockport and in Rochester.
General Motors employs 4,200 people in manufacturing jobs around New York state.
The post General Motors to invest $334M in 3 New York state plants appeared first on Canadian Business – Your Source For Business News.
Companies need to disclose more on climate risks, panel says
– canadianbusiness.com
LONDON _ Investors need more information about the risks companies face from global warming so they can fund development of the new technologies that are needed to control climate change and mitigate its effects, a task force said Wednesday.
An international panel, chaired by former New York City Mayor Michael Bloomberg, developed recommendations over the last year based on the idea that markets need more and better data to respond to the challenge of climate change.
The task force was appointed by the Financial Stability Board, an arm of the Group of 20 industrialized nations and led by Bank of England Governor Mark Carney.
“The challenge is that investors currently don’t have the information they need to respond to these developments,” Carney and Bloomberg wrote Wednesday in the Guardian newspaper. “This must change if financial markets are going to do what they do best: allocate capital to manage risks and seize new opportunities.”
The recommendations come a year after 195 countries agreed to work together to limit the rise in average global temperatures to less than 2 degrees Celsius…
An international panel, chaired by former New York City Mayor Michael Bloomberg, developed recommendations over the last year based on the idea that markets need more and better data to respond to the challenge of climate change.
The task force was appointed by the Financial Stability Board, an arm of the Group of 20 industrialized nations and led by Bank of England Governor Mark Carney.
“The challenge is that investors currently don’t have the information they need to respond to these developments,” Carney and Bloomberg wrote Wednesday in the Guardian newspaper. “This must change if financial markets are going to do what they do best: allocate capital to manage risks and seize new opportunities.”
The recommendations come a year after 195 countries agreed to work together to limit the rise in average global temperatures to less than 2 degrees Celsius…
