How to go about securing the best return for your investment in Canada.
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All TTC subway riders getting cellphone service starting Oct. 3, federal minister says - CBC.ca + MORE Sep 11th
All TTC subway riders getting cellphone service starting Oct. 3, federal minister says CBC.caToronto's Financial Workers Will Finally Be Able to Work on the Subway Financial PostRogers must give BCE, Telus access to wireless network on Toronto's subway system by Oct. 3, ministe.... More »
RESP advice for Canadian citizens living in the U.S. Jun 16th
Q. I opened a RESP account while I was living in Canada, as a Canadian citizen. A few years back, we moved to the U.S., where my kids are going to college and university. I still have an active RESP account and make regular monthly contributions.
We file our tax returns in the U.S. only, since we de.... More »
TSX rallies, while New York stocks head lower before late-day bounce + MORE Dec 27th
A day after Wednesday's dramatic rise, New York stock markets reversed course and headed downwards amid uncertainty over trade and U.S. growth, then had another change of direction in the final hour of trading and ended in positive territory..... More »
Tesla's Q1 net income down 55% year over year - CBC News + MORE Apr 23rd
Tesla's Q1 net income down 55% year over year CBC NewsTesla shares jump 11% after Musk says company aims to start production of affordable new EV by early 2025 CNBCTesla's shift on low-cost cars throws Mexico, India factory plans into limbo Yahoo Canada FinanceTesla .... More »
Fixed mortgage rates are likely at their 'lowest point this year,' experts say Oct 29th
"We're seeing the weaker economy, paradoxically, is allowing more people into the real estate market," said Phil Soper, president and CEO of Royal LePage..... More »
CIBC to rebrand The PrivateBank as CIBC Bank USA at dozens of locations
– canadianbusiness.com
The Canadian Imperial Bank of Commerce is extending its brand across the U.S. by renaming dozens of recently-purchased locations south of the border as CIBC Bank USA.
The Canadian lender closed its acquisition of Chicago-based PrivateBancorp in June.
Today, the bank announced it is replacing the U.S. company’s brand called The PrivateBank with the CIBC name on 36 branches and commercial banking offices.
A soccer field and a theatre in Chicago have also been renamed as the CIBC Fire Pitch and the CIBC Theatre.
CIBC bought the U.S. bank for approximately $5 billion US in a bid to secure its foothold in the country.
The Canadian bank has said it hopes to one day generate a quarter of its earnings in the U.S.
The post CIBC to rebrand The PrivateBank as CIBC Bank USA at dozens of locations appeared first on Canadian Business – Your Source For Business News.
The Canadian lender closed its acquisition of Chicago-based PrivateBancorp in June.
Today, the bank announced it is replacing the U.S. company’s brand called The PrivateBank with the CIBC name on 36 branches and commercial banking offices.
A soccer field and a theatre in Chicago have also been renamed as the CIBC Fire Pitch and the CIBC Theatre.
CIBC bought the U.S. bank for approximately $5 billion US in a bid to secure its foothold in the country.
The Canadian bank has said it hopes to one day generate a quarter of its earnings in the U.S.
The post CIBC to rebrand The PrivateBank as CIBC Bank USA at dozens of locations appeared first on Canadian Business – Your Source For Business News.
How investors can make – and lose – money when a stock is added to the TSX composite
– theglobeandmail.com
Three companies felt the thrill – and subsequent coming down – that follows when a firm is added to a benchmark index
Toronto stock index, Wall Street gain ground, as Canadian dollar weakens
– canadianbusiness.com
TORONTO _ Mining companies helped lead the Toronto stock index higher today as the loonie lost ground to the U.S. dollar.
The S&P/TSX composite index was up 63.64 points to 15,236.67, with base metals gains offsetting gold sector losses.
In New York, the Dow Jones industrial average advanced 63.01 points to 22,331.35. The S&P 500 index edged ahead 3.64 points to 2,503.87 and the Nasdaq composite index was up 6.17 points to 6,454.64.
The Canadian dollar was trading at an average price of 81.71 cents US, down 0.38 of a U.S. cent.
In commodities news, the November crude contract was down nine cents at US$50.35 per barrel while the December gold contract fell $14.40 to US$1,310.80 an ounce.
The December copper contract was up two cents at to US$2.97 a pound and the October natural gas contract gained 12 cents at US$3.15 per mmBTU.
The post Toronto stock index, Wall Street gain ground, as Canadian dollar weakens appeared first on Canadian Business – Your Source For Business News.
The S&P/TSX composite index was up 63.64 points to 15,236.67, with base metals gains offsetting gold sector losses.
In New York, the Dow Jones industrial average advanced 63.01 points to 22,331.35. The S&P 500 index edged ahead 3.64 points to 2,503.87 and the Nasdaq composite index was up 6.17 points to 6,454.64.
The Canadian dollar was trading at an average price of 81.71 cents US, down 0.38 of a U.S. cent.
In commodities news, the November crude contract was down nine cents at US$50.35 per barrel while the December gold contract fell $14.40 to US$1,310.80 an ounce.
The December copper contract was up two cents at to US$2.97 a pound and the October natural gas contract gained 12 cents at US$3.15 per mmBTU.
The post Toronto stock index, Wall Street gain ground, as Canadian dollar weakens appeared first on Canadian Business – Your Source For Business News.
Foreign investment in Canada boosted by record foreign acquisition of bonds
– canadianbusiness.com
OTTAWA _ Statistics Canada says foreign investment in Canadian securities totalled $24.0 billion in July, led by a record acquisition of Canadian bonds.
The total for the month reversed the sale of $858 million in Canadian securities by foreign investors in June.
Statistics Canada says non-resident investment in Canadian bonds totalled $23.8 billion in July, boosted by new issues of private corporate bonds in foreign markets.
Foreign investors also bought $8.0 billion of federal government bonds and $2.9 billion of provincial government bonds.
Non-resident investors sold $1.5 billion in Canadian money market instruments and increased equity investments by $1.6 billion in July.
Meanwhile, Canadian investors sold $1.8 billion in foreign securities in July as they reduced their holdings in foreign equities by $2.9 billion in July, but acquired $1.1 billion in foreign debt securities.
The post Foreign investment in Canada boosted by record foreign acquisition of bonds appeared first on Canadian Business – Your Source For Business News.
The total for the month reversed the sale of $858 million in Canadian securities by foreign investors in June.
Statistics Canada says non-resident investment in Canadian bonds totalled $23.8 billion in July, boosted by new issues of private corporate bonds in foreign markets.
Foreign investors also bought $8.0 billion of federal government bonds and $2.9 billion of provincial government bonds.
Non-resident investors sold $1.5 billion in Canadian money market instruments and increased equity investments by $1.6 billion in July.
Meanwhile, Canadian investors sold $1.8 billion in foreign securities in July as they reduced their holdings in foreign equities by $2.9 billion in July, but acquired $1.1 billion in foreign debt securities.
The post Foreign investment in Canada boosted by record foreign acquisition of bonds appeared first on Canadian Business – Your Source For Business News.
Paying taxes on an inheritance
– moneysense.ca
Q: I have a son that is living in the U.S. (for the last 20 years) and married. Would he have to pay taxes in the U.S. when he inherits from his parents? How would the taxes work in this case?
–Alain
A: Alain, generally speaking no, your son will not have to pay any tax on inherited money or property. That being said there are assets that when inherited in the U.S. are taxable to the beneficiary—such as U.S. retirement accounts and U.S. savings bonds.
If the parent is Canadian and the asset has been taxed on their final Canadian tax return, the beneficiary will inherit the account/asset with a basis equal to the fair market value on the date of death.
–Alain
A: Alain, generally speaking no, your son will not have to pay any tax on inherited money or property. That being said there are assets that when inherited in the U.S. are taxable to the beneficiary—such as U.S. retirement accounts and U.S. savings bonds.
If the parent is Canadian and the asset has been taxed on their final Canadian tax return, the beneficiary will inherit the account/asset with a basis equal to the fair market value on the date of death.
Q: I have a question regarding taxes in TFSA investment accounts. Do we have to deal with any tax issues when we purchase U.S. or international ETFs? And if so, what are they?
–Margy
A: The Tax-Free Savings Account (TFSA) allows eligible Canadians to invest in a variety of investments. The options are only limited by the offerings of the financial institution…
