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What expenses can you deduct for a second property in Canada? + MORE Sep 14th
If someone owns a second property, what can they deduct? Can they deduct the cost of purchasing or renovations?—Nicole
The types of expenses you can deduct for a second property
There are several expenses that can be deducted from a second property, particularly if it is designated as an inv.... More »
Questrade trading fees: Good news for Canadian investors Feb 12th
With a TV ad aired during the 2025 Super Bowl on February 9, digital brokerage Questrade has announced it will offer commission-free stock and exchange-traded fund (ETF) trades henceforward. That brings to three the number of 0% commission investment brokers available to Canadians, along with Wealth.... More »
How to calculate the adjusted cost base of inherited property Feb 6th
Ask MoneySense
I sold a building that I inherited over 20 years ago. I don’t know the adjusted cost base (ACB) or fair market value of the building in 2003. How do I determine the value?—Bill
Reporting the sale of a property in Canada
When you sell real estate, you need to report that sal.... More »
Compare the best GIC rates in Canada 2023 Jun 3rd
Investing
The best GIC rates in Canada for 2023
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Compare now
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Meet Toronto’s financial adviser taking care of NHL players’ big bucks May 28th
Blunt-talking Chris Moynes has seen athletes burn through millions and end up bankrupt. ‘My mantra is: Don’t let it happen to you. Don’t go broke’.... More »
Financial literacy programs work—if they’re done right
– macleans.ca
ShutterstockBuilding Canadians’ financial literacy is one important part of our mandate at the Financial Consumer Agency of Canada (FCAC). We define financial literacy as having the knowledge, skills and confidence to make informed financial decisions, and we encourage a healthy debate about how to achieve this outcome.
It’s in this spirit that I’d like to respond to an argument made by Daniel Munro in his recent Maclean’s article, “How financial literacy programs can do more harm than good.”
As a data-driven agency, FCAC’s financial literacy programs, online resources, consumer information campaigns, and outreach are all based on evidence. And our evidence clearly shows that financial literacy programs—when properly designed and implemented—are essential in enriching Canadians’ financial well-being.
Mr. Munro refers to a 2014 analysis to support the view that many financial literacy programs “just don’t seem to work.” But on reviewing this seminal study, our conclusion—and that of the wider research community—is that financial literacy programs do work if done right…
Credit Suisse lands ex-Morgan Stanley managing director
– theglobeandmail.com
Quick courtship of veteran investment banker Ram Amarnath a sign of the importance investment banks attach to covering Canada’s private-equity firms and pension plans
What’s to blame for shrinking stock markets?
– theglobeandmail.com
Amid mass delistings and a wilting market for IPOs, options for investors are vanishing
Harvard program aims to equip Indigenous communities with keys to financial success
– theglobeandmail.com
The new Harvard Business School program spanned four days, attracting students eager to develop investment and governance expertise
What to do if you don’t trust the executor of a will
– moneysense.ca
Q: We are five kids in the family and my sisters and I think my brother, who’s the executor of my parents’ will, will find a way to take everything. How can we protect ourselves?
—Trina
A: Trina, you think your parents’ estate executor may be “somewhat shady”? Is the executor bankrupt, dishonest, a criminal or incompetent? These situations all require different responses.
You must respect your parents’ decision unless there are reasons not to. They choose their executor. I assume this decision was made with a lawyer’s help. So here is what you need to know to protect yourself.
Executors are fiduciaries. They are entrusted to put the interest of the estate before their own. They are required to act honestly and have duties that I will describe. Unfortunately, many trustees lack the skills or knowledge they need.
I tell executors to follow an easy-to-use mantra to administer an estate. Executors need to:
Protect the estate – secure and identify property
Probate the will – sell assets, obtain tax clearance
Pay everyone – pay creditors and beneficiaries
Executor Have Fiduciary Duties
Executor fiduciary duties are often described in positives (“do this”) and negatives (“don’t do that”)…
