How to go about securing the best savings strategy in Canada.
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The best high-interest savings accounts in Canada for 2024 + MORE Feb 6th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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House rich: How to access the equity in your home + MORE Nov 21st
With the national average home price up a record 18.5% in August 2020 compared to the same time last year, more Canadians than ever have a significant portion of their wealth tied up in their homes.
Who are these “house rich” homeowners? They range widely—from retirees on a fixed income, to ba.... More »
How do you take RDSP withdrawals? Jun 17th
Registered disability savings plans (RDSPs) were created in the 2007 federal budget, and the first accounts were opened in December 2008. It took a while for financial institutions to offer them and, even now, you cannot open RDSPs everywhere.
Most Canadians with RDSPs have only ever deposi.... More »
I lost my home in a fire. Can I tap my LIRA to cover costs? + MORE Nov 16th
Q: My house was burnt in the Fort McMurray fire. I am now unemployed and my husband and I are struggling to make the mortgage payments on top of our rent payment. Our savings are now drained as well as money received from insurance—the town house was part of a condo and is being rebuilt.
We have.... More »
How to Start an Emergency Fund When You’re Living Paycheque to Paycheque Sep 13th
When you’re living paycheque to paycheque and every dollar counts, it’s hard to imagine how to save any significant amount of money. The good news is, you can build up an emergency fund even while living paycheque to paycheque. The best news of all is once you’ve built up some sa.... More »
Mogo wants to be your mobile mortgage specialist
– moneysense.ca
Mobile app meets mortgage specialist. That’s what Mogo Finance Technology Inc. is promising with its most recent announcement.As of mid-January 2017, the Vancouver-based fintech company registered as a mortgage broker in three provinces: Ontario, B.C. and Alberta, with plans to expand across Canada. Mogo already offers online personal loans.
What differentiates MogoMortgage from other non-bank lenders is the launch of an online and mobile-friendly interface—where mortgage shoppers can compare rates, apply for a mortgage and track their payment progress.
Benefits of MogoMortgage
The biggest promise, according to Mogo press statements, is that their mortgage product will make the process of acquiring a mortgage—and paying off that debt—more transparent.
By using the MogoMortgage app you can get your credit score (for free!), apply for your mortgage, track your mortgage-debt repayment progress and set-up payment notifications.
Plus, the company promises rewards for meeting milestones, like a bottle of champagne on the one year anniversary of your first mortgage payment…
How the Trump tax cuts could drive Canadian corporate tax rates down too
– canadianbusiness.com
(Pablo Martinez Monsivais/ Canadian Press)This story originally appeared at Maclean’s.
On Jan. 20, the United States inaugurated its 45th president, Donald J. Trump. During the 2016 election campaign Trump talked a lot about lowering taxes. With tax-cutting Republicans also firmly in charge of Congress, it seems very likely our neighbours to the south may soon be seeing lower taxes. What does that mean for Canada? As I see it, the answer is very different for personal taxes and corporate taxes.
On the personal tax front, some (like tax expert Jack Mintz and the Fraser Institute) have expressed concern about the top marginal tax rates in Canada. While the rate facing the highest earners in B.C. remains only 47.7%, the top rate in Ontario, Quebec, and some other provinces now exceeds 50%. In the U.S., the top federal income tax rate is currently 39.6%, but states like California add up to 13.3% more in state income taxes. New York City even has a municipal income tax rate of 3.9% on top of the state and federal taxes…
