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Unemployment rate drops to nine-year low Sep 8th
(Hero Images/Getty Images)
OTTAWA – Canada’s labour market posted its ninth-straight month of job gains in August to give the economy its longest monthly growth streak since before the financial crisis nine years ago.
Statistics Canada says last month’s increase of 22,200 jobs also hel.... More »
Live coverage: Federal leaders face off in French-language debate - Montreal Gazette + MORE Oct 2nd
Live coverage: Federal leaders face off in French-language debate Montreal GazetteAndrew Scheer met 5 undecided Canadian voters. Here's what happened CBC.caJason Kenney headed to Ontario to campaign for Andrew Scheer in crucial Toronto-area ridings National PostAsk y.... More »
TFSA confusion: The myths that just won’t die Jun 25th
After 15 years of conversations with blog readers and financial planning clients, I’m still amazed at how often the same myths about tax-free savings accounts (TFSAs) pop up.
I’ve had clients ask if a dividend paid inside their TFSA counts as a contribution. Others think they lose contribut.... More »
After the biggest stock market sell-off in history, what's next for Facebook? Jul 28th
After a market meltdown this week that saw Facebook lose $100 billion of shareholder value, it's worth asking whether the giant could be headed — albeit very slowly — for the same fate that befell its high-tech ancestors like Myspace..... More »
Jeffrey Rath fought for First Nations. Now former clients are fighting him - Global News Jul 14th
Jeffrey Rath fought for First Nations. Now former clients are fighting him Global NewsCourt freezes accounts of separatist lawyer as First Nation alleges misappropriation CBCJudge freezes $8.5M of Alberta separatist lawyer’s assets amid First Nation trust fight Glo.... More »
Reasons to tap RRSPs before age 71
– moneysense.ca
Q: If you are self-employed and have a holding company, does it not make sense to use your RRSP funds before 71 and then opt for funds from your holding company after?
—Tom
A: You’ve asked a good question and you’ve already got your answer, Tom, but I’m going to help validate why it makes sense to use RRSP funds before age 71.
For reader clarification, a “holding company” is a term for a corporation that holds investments and is no longer an active operating business.
I think taking RRSP withdrawals before 71 makes sense for far more Canadians than those who actually take early withdrawals, Tom. I feel it’s wise to pursue strategies that can help you pay less tax over your lifetime rather than just focusing on what saves you the most tax this year.
Ask a Planner: Leave your question for Jason Heath »
An RRSP must be used to either buy an annuity or be converted to a RRIF by age 71 – a RRIF being the most common choice – and both options require minimum payments each year after that…
Foreign bought real estate concentrated in Toronto and northern suburb after new tax
– canadianbusiness.com
Newly released data from the Ontario government shows half of real estate transactions involving a foreign buyer in the Greater Golden Horseshoe region took place in Toronto the month after the province introduced a new tax on non-residents.
The Ontario government says there were 857 residential and agricultural real estate purchases by foreigners in the Greater Golden Horseshoe—which stretches from the Niagara Region to Peterborough, Ont.—between April 24 and May 26.
Half of those foreign-bought properties were in Toronto and 21 per cent were in York Region.
Foreign buyers were responsible for nine per cent of total transactions in York Region and seven per cent in Toronto, with lower percentages in surrounding areas.
The government said last week that nearly five per cent of home purchases in the Greater Golden Horseshoe region were made by non-residents since the foreign buyer tax was announced.
The non-resident speculation tax came into effect in April, the same month the government first began collecting information from real estate buyers concerning their citizenship, residency and their intentions for their property…
The Ontario government says there were 857 residential and agricultural real estate purchases by foreigners in the Greater Golden Horseshoe—which stretches from the Niagara Region to Peterborough, Ont.—between April 24 and May 26.
Half of those foreign-bought properties were in Toronto and 21 per cent were in York Region.
Foreign buyers were responsible for nine per cent of total transactions in York Region and seven per cent in Toronto, with lower percentages in surrounding areas.
The government said last week that nearly five per cent of home purchases in the Greater Golden Horseshoe region were made by non-residents since the foreign buyer tax was announced.
The non-resident speculation tax came into effect in April, the same month the government first began collecting information from real estate buyers concerning their citizenship, residency and their intentions for their property…
CBC.caOmar Khadr fights attempt by soldier's widow to freeze his assetsCBC.caThe family of a slain U.S. soldier has offered only "scant evidence" that Omar Khadr might fritter away his settlement money before having to deal with a $134-million US judgment against him, according to court documents. In a factum filed in Ontario …Khadr lawyer argues against request for payout freezeThe Globe and MailThe dilemma of Omar KhadrThe Battlefords News-OptimistKhadr has become the Liberal millstone: MooreOurWindsor.caThe Metropolitain -Minneapolis Star Tribune -Toronto Star -TheRecord.comall 132 news articles »
Yellen tells Congress to expect more rate hikes
– canadianbusiness.com
Federal Reserve Chair Janet Yellen told Congress on Wednesday that the central bank expects to keep raising a key interest rate at a gradual pace and also plans to start trimming its massive bond holdings this year.
In her semiannual testimony on the economy, Yellen took note of a number of encouraging factors, including strong job gains and rising household wealth that she said should fuel economic growth over the next two years.
She blamed a recent slowdown in inflation on temporary factors. But she says Fed officials are watching developments closely to make sure that annual price gains move back toward the Fed’s 2 per cent target.
Many economists believe the Fed, which has raised rates three times since December, will hike rates one more time this year.
In her prepared testimony before the House Financial Services Committee, Yellen repeated the message she has been sending all year: the economy has improved enough that it no longer needs the extraordinary support the central bank began providing in 2008 in the wake of a severe financial crisis and the deepest recession since the 1930s…
In her semiannual testimony on the economy, Yellen took note of a number of encouraging factors, including strong job gains and rising household wealth that she said should fuel economic growth over the next two years.
She blamed a recent slowdown in inflation on temporary factors. But she says Fed officials are watching developments closely to make sure that annual price gains move back toward the Fed’s 2 per cent target.
Many economists believe the Fed, which has raised rates three times since December, will hike rates one more time this year.
In her prepared testimony before the House Financial Services Committee, Yellen repeated the message she has been sending all year: the economy has improved enough that it no longer needs the extraordinary support the central bank began providing in 2008 in the wake of a severe financial crisis and the deepest recession since the 1930s…
How you can help those affected by B.C. wildfires
– moneysense.ca
As thousands of people are displaced by raging wildfires across British Columbia, many companies and organizations are stepping up to do their part.
Here’s a list of different ways you can help those who are displaced or affected.
Canadian Red Cross
The Red Cross is currently supporting the province in providing help to those living in areas impacted by the wildfires.
You can make a financial donation here, which will be used to provide essentials like cots, blankets, services, financial assistance for food and more.
“Your donation may also help re-entry and go towards more long-term recovery, resiliency and preparedness.”
If you are a Rogers customer and would like to pitch in, you can always do so by texting FIRES to 4-5-6-7-8 to make a 10 dollar donation.
BC Liquor Stores
You can make an in-store donation at any BC Liquor store. Funds are being collected for BC Fires Red Cross relief efforts, and will go directly to the Red Cross.
“Show your support by making a donation of $2 or $5—or multiples thereof at any BC Liquor Store…
Here’s a list of different ways you can help those who are displaced or affected.
Canadian Red Cross
The Red Cross is currently supporting the province in providing help to those living in areas impacted by the wildfires.
You can make a financial donation here, which will be used to provide essentials like cots, blankets, services, financial assistance for food and more.
“Your donation may also help re-entry and go towards more long-term recovery, resiliency and preparedness.”
If you are a Rogers customer and would like to pitch in, you can always do so by texting FIRES to 4-5-6-7-8 to make a 10 dollar donation.
BC Liquor Stores
You can make an in-store donation at any BC Liquor store. Funds are being collected for BC Fires Red Cross relief efforts, and will go directly to the Red Cross.
“Show your support by making a donation of $2 or $5—or multiples thereof at any BC Liquor Store…
