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Here’s how much more a TFSA can help you save + MORE Jul 11th
There were more than 11.7 million TFSA holders in 2014, according to the latest statistics available from the Canada Revenue Agency (CRA).
Slowly but surely, more and more Canadians are opening a TFSA to supercharge their savings (the 2017 TFSA contribution limit is set at $5,500).
The TFSA is very .... More »
The best GIC rates in Canada for 2024 Sep 30th
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 navigat.... More »
Young investors are swarming to TikTok for financial advice — but should they? + MORE Oct 4th
There’s a lot of lousy financial advice swirling around on TikTok. But there’s good advice too. Here’s how to tell the difference..... More »
2022 tax season primer: Our roundup of the best tax tips for Canadians + MORE Nov 10th
Before the payment deadline rolls around on May 1, 2023, there are ways to avoid racking up a higher tax bill than you need to (especially given this year’s record levels of inflation and rising cost of living). Plus, look for any deductions, rebates or tax credits that will help you put some mone.... More »
TSX weighed down by resource stocks, loonie remains above 82 cents US + MORE Sep 9th
TORONTO _ Canada’s main stock index is moderately lower this morning, weighed down by resource stocks.
The Toronto Stock Exchange’s S&P/TSX composite index declined 41.52 points to 14,983.01, after 90 minutes of trading.
In New York, the Dow Jones industrial average climbed 46.53 poi.... More »
Canadian economy grew by 2.6% in fourth quarter
– moneysense.ca
OTTAWA — The Canadian economy outperformed expectations in the final three months of 2016 by growing at an annual rate of 2.6 per cent, Statistics Canada said Thursday.
The agency’s latest report on real gross domestic product said the biggest contribution to the fourth-quarter increase came from household consumption, which rose at an annual rate of 2.6 per cent.
Downward pressures on economic growth were led by an 8.2 per cent decline in business investment, which was the category’s ninth consecutive quarterly contraction.
A consensus of economists had predicted economic growth in the fourth quarter would expand by two per cent, according to Thomson Reuters.
Overall, the economy expanded by 1.4 per cent in 2016— compared to 0.9 per cent growth in 2015.
The real GDP figures were released as the Bank of Canada and the federal government try to gauge the direction of U.S. economic policy under President Donald Trump. Concern has spread through Corporate Canada and Ottawa over the impact of potential changes to taxation and trade policies by Trump’s administration…
The agency’s latest report on real gross domestic product said the biggest contribution to the fourth-quarter increase came from household consumption, which rose at an annual rate of 2.6 per cent.
Downward pressures on economic growth were led by an 8.2 per cent decline in business investment, which was the category’s ninth consecutive quarterly contraction.
A consensus of economists had predicted economic growth in the fourth quarter would expand by two per cent, according to Thomson Reuters.
Overall, the economy expanded by 1.4 per cent in 2016— compared to 0.9 per cent growth in 2015.
The real GDP figures were released as the Bank of Canada and the federal government try to gauge the direction of U.S. economic policy under President Donald Trump. Concern has spread through Corporate Canada and Ottawa over the impact of potential changes to taxation and trade policies by Trump’s administration…
Tax rule change could punish those saving for retirement
– theglobeandmail.com
Paying fees from outside your RRSP could be taxed
Snap IPO: Why I’m content to watch this party from the sidelines
– theglobeandmail.com
Snap depends on advertising revenue to drive financial growth, and this can only happen if it's able to massively grow its user base
Regulators launch task force to raise awareness on binary options scams
– canadianbusiness.com
Canadian securities regulators have formed a task force to raise awareness and help protect investors from so-called binary options scams.
The Canadian Securities Administrators says the number of victims affected by this form of fraud is on the rise.
In a binary option scheme, an investor bets on the performance of an underlying asset like a currency, stock index or individual stock and receives a payout or loses the entire amount depending on what happens. The time frame on the bet is typically very short, sometimes hours or even minutes.
The council of provincial and territorial securities regulators says there are no registered individuals or firms permitted to trade these products in Canada.
The task force is working with online advertisers and mobile companies to eliminate binary option advertising and mobile apps in Canada.
It’s also co-ordinating efforts with international organizations and working with credit card companies and financial institutions to cut off funding.
The post Regulators launch task force to raise awareness on binary options scams appeared first on Canadian Business – Your Source For Business News.
The Canadian Securities Administrators says the number of victims affected by this form of fraud is on the rise.
In a binary option scheme, an investor bets on the performance of an underlying asset like a currency, stock index or individual stock and receives a payout or loses the entire amount depending on what happens. The time frame on the bet is typically very short, sometimes hours or even minutes.
The council of provincial and territorial securities regulators says there are no registered individuals or firms permitted to trade these products in Canada.
The task force is working with online advertisers and mobile companies to eliminate binary option advertising and mobile apps in Canada.
It’s also co-ordinating efforts with international organizations and working with credit card companies and financial institutions to cut off funding.
The post Regulators launch task force to raise awareness on binary options scams appeared first on Canadian Business – Your Source For Business News.
Save, invest, prosper with My Own Advisor.Welcome to my latest Weekend Reading edition – did you miss it last Friday?
If so, I had a good excuse. I was on vacation. That includes time away from work and the blog. Our vacation this winter was to Costa Rica, Tamarindo. This was our second trip to this country and we enjoyed it very much. It was a relaxing, beach-centric vacation for a week – exactly what we were looking for – although the neighbours woke us up each morning. That was more than fine by us.
Picture: howler monkey, our daily alarm clock around the corner.
It was a wild week of dividend increases, no less than seven stocks in our portfolio raised dividends while I was away. I admit it was nice getting a raise when you’re not working…
Picture: Tamarindo beach, where I was busy surfing.
The weather turned cold and nasty soon after we got home from vacation, so apparently winter isn’t done in Ottawa yet. Hopefully in another few weeks we can look forward to spring…
