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Latest News
What does the U.S. election outcome mean for Canadian investors? Oct 25th
In a few days, millions of Americans will head to the polls to vote for either Donald Trump or Joe Biden, while millions of Canadians will be in front of their screens, waiting to see how the night unfolds. But while it’s certainly going to be enthralling—and probably very long—evening,.... More »
You opened an RESP—now what? Nov 23rd
As many Canadian parents and grandparents know, a registered education savings plan (RESP) is a powerful savings tool. Although you can create a college or university fund for your child in other ways, such as a bank account or a tax-free savings account (TFSA), they don’t offer the same valuable .... More »
Pension fund manager OMERS earns 11.5 per cent return after all expenses in 2017 + MORE Feb 24th
TORONTO _ Pension fund manager OMERS earned an investment return of 11.5 per cent after all expenses last year, topping the 10.3 per cent result it posted in 2016.
The defined-benefit pension plan for Ontario’s municipal employees said all of its major asset classes performed well for the year.... More »
Investing In Your Amazing Employees Jul 9th
What investing means in status-quo?
If we are to be told that the trends in and of business have changed greatly over recent times, this will not be an exaggeration. Departmental functions have been significantly revised; the conventional blueprint of practices is largely removed and a more inculcat.... More »
Russia 'directly involved in downing of MH17': Julie Bishop - The Australian Financial Review + MORE May 25th
The Australian Financial ReviewRussia 'directly involved in downing of MH17': Julie BishopThe Australian Financial ReviewForeign Minister Julie Bishop says Russia was "directly involved" in the downing of MH17. Alex Ellinghausen. Share on Facebook · Share on twitter &middo.... More »
CRA vows action on Canadian tax evaders exposed in Paradise Papers
– canadianbusiness.com
OTTAWA _ The Canada Revenue Agency says it won’t hesitate to investigate new evidence of offshore tax evasion in the wake of a second massive leak of tax haven financial records.
The leak of some 13.4 million records, dubbed the Paradise Papers, lifts another veil on the often murky ways in which the wealthy _ including more than 3,000 Canadian individuals and entities _ stash their money in offshore accounts to avoid paying taxes.
Among the names that pop up in the records with some connection to offshore accounts are former Canadian prime ministers Brian Mulroney, Paul Martin and Jean Chretien, the Queen, U.S. commerce secretary Wilbur Ross, and the past and current chief fundraisers for the federal Liberal party.
Neither the CRA nor any court has determined the Canadians did anything wrong.
Offshore accounts are used by wealthy individuals and corporations around the world as a perfectly legal way to reduce their tax burden, although the anonymity provided to account holders has also led to associations with tax evasion, money laundering and organized crime…
The leak of some 13.4 million records, dubbed the Paradise Papers, lifts another veil on the often murky ways in which the wealthy _ including more than 3,000 Canadian individuals and entities _ stash their money in offshore accounts to avoid paying taxes.
Among the names that pop up in the records with some connection to offshore accounts are former Canadian prime ministers Brian Mulroney, Paul Martin and Jean Chretien, the Queen, U.S. commerce secretary Wilbur Ross, and the past and current chief fundraisers for the federal Liberal party.
Neither the CRA nor any court has determined the Canadians did anything wrong.
Offshore accounts are used by wealthy individuals and corporations around the world as a perfectly legal way to reduce their tax burden, although the anonymity provided to account holders has also led to associations with tax evasion, money laundering and organized crime…
Energy and mining push TSX to record finish, oil hits highest level since mid 2015
– canadianbusiness.com
TORONTO _ Energy and mining stocks propelled Canada’s main stock index to a record high today on the strength of spiking commodity prices.
The S&P/TSX composite index was up 72.04 points to 16,092.20 in a broad-based advance led by several major sectors.
Shares of oil and gas stocks surged more than 2.5 per cent as the December crude contract soared US$1.71 to US$57.35 per barrel. It’s the first time since mid-2015 that the price of oil has cracked the US$57 mark.
Meanwhile, the gold sector rose more than 1.6 per cent, with the December bullion contract up US$12.40 to US$1,281.60 an ounce.
In New York, it was another quiet but positive day as stock indices closed at all-time highs on Wall Street.
The Dow Jones industrial average was up 9.23 points to 23,548.42, the S&P 500 index eked out 3.29 points to 2,591.13 and the Nasdaq composite index advanced 22.00 points to 6,786.44.
The Canadian dollar was trading at an average price of 78.46 cents US, up 0.11 of a U.S. cent…
The S&P/TSX composite index was up 72.04 points to 16,092.20 in a broad-based advance led by several major sectors.
Shares of oil and gas stocks surged more than 2.5 per cent as the December crude contract soared US$1.71 to US$57.35 per barrel. It’s the first time since mid-2015 that the price of oil has cracked the US$57 mark.
Meanwhile, the gold sector rose more than 1.6 per cent, with the December bullion contract up US$12.40 to US$1,281.60 an ounce.
In New York, it was another quiet but positive day as stock indices closed at all-time highs on Wall Street.
The Dow Jones industrial average was up 9.23 points to 23,548.42, the S&P 500 index eked out 3.29 points to 2,591.13 and the Nasdaq composite index advanced 22.00 points to 6,786.44.
The Canadian dollar was trading at an average price of 78.46 cents US, up 0.11 of a U.S. cent…
Corporate Tax Reform Is the Key to Growth
– online.wsj.com
It could increase the U.S. capital stock by $5 trillion and cause a $500 billion rise in annual income.How last year’s All-Stars have performed
– moneysense.ca
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Overview
Canadian All-Stars
Top 200 Canadian Stocks
Past Performance
Top U.S. Stocks
One of the challenges of maintaining a concentrated portfolio is that it can be undermined by one bum stock. That was certainly top of mind earlier this year when Home Capital Group, one of our 14 All-Star stocks, suddenly sputtering…
Can I still claim the principal residence exemption?
– moneysense.ca
(Getty Images / Peter Dazeley)
Q: I have purchased a new home and have moved into it. I have finished part of the basement into a legal suite. I have not rented it out yet. My question is, if I rent the suite out will I be able to claim the primary residence tax exemption when I sell my home?
—Donna and Gerry
A: Congratulations Donna and Gerry on both your new home and becoming landlords! What exciting steps to take towards your personal financial goals.
Before we launch into an answer, it’s good to recap what taxation issues arise when it comes to property. In general, all Canadians must pay capital gains tax on real property when it is sold. The gain portion is the difference between the purchase price and your sale price (assuming it went up). This applies to all real property sold in Canada. However, for your principal residence, you can use the capital gains exemption to avoid having to pay the capital gains tax owed. It’s known as primary residence tax exemption (or PRE in finance-speak) and it’s one of the most powerful and advantageous tax-planning tools we have as Canadians…
