All about Canadian investments. Learn the ins and outs and get the latest news.
Latest News
7 First Nations sign nuclear reactor ownership deal with Ottawa, Ontario - CBC Jun 23rd
7 First Nations sign nuclear reactor ownership deal with Ottawa, Ontario CBCOttawa, Ontario to announce joint Indigenous loan guarantee for new Darlington nuclear reactors The Globe and MailSeveral First Nations sign deal with Ottawa, Ontario to own part of a nuclear reactor&nb.... More »
Maple Leaf to spin off a publicly traded company Jul 10th
This little piggy is going to market.
Maple Leaf Foods (MFI/TSX) is spinning off its pork business into a new publicly traded company, the firm announced Tuesday. It’s something that’s been in the works for a little while, but the time is now right, said chief executive Curtis Frank in an.... More »
Canada's ultra-wealthy getting richer faster than the rest of us, report shows Sep 9th
Canada ranks fifth in the world when it comes to its population of people that have a net worth of at least $30 million US — beating out the likes of Switzerland and Hong Kong — according to a new wealth study..... More »
Know your TFSA contribution limit + MORE Nov 2nd
For Canadian investors and savers, it’s always some of the best news to come each year: new TFSA room that becomes available each January 1. For 2024, the TFSA contribution limit is $7,000, and for 2023, it is $6,500.
The actual TFSA yearly limit was set at $5,000 back in 2009 when the investm.... More »
How much should I have in my RRSP? + MORE Feb 18th
For many Canadians, investing in their registered retirement savings plan (RRSP) is the primary way they save for retirement. RRSPs are an invaluable tool, allowing you to stow away funds for golden years while reducing your taxable income today. However, there is no one-size-fits-all way to use the.... More »
Trump Tower blaze: Trump once fought measure requiring sprinklers in buildings – CTV News
– news.google.ca
CTV NewsTrump Tower blaze: Trump once fought measure requiring sprinklers in buildingsCTV NewsNEW YORK — The 50th-floor apartment in Trump Tower where a man was killed in a raging fire did not have sprinklers — a requirement Donald Trump once fought as a powerful real estate developer. Todd Brassner, 67, died at a hospital on Saturday after a …Trump once fought measure requiring sprinklers in buildingsMetroNews CanadaSprinklers not installed in Trump Tower where resident died in fireThe Sydney Morning HeraldTrump Once Lobbied Against NYC Proposal To Put Sprinklers In High-Rise UnitsHuffPostNew York Magazine -Wall Street Journal -NJ.com -Daily Mailall 512 news articles »
Do I get taxed on my TFSA if I give up U.S. citizenship?
– moneysense.ca
iStockQ. I am a Canadian as well as an American citizen. I have to file income tax returns in both countries. I understand the TFSA needs to be reported. If I decide to renounce my American citizenship, what happens to the TFSA that would be different from other investments? I heard they are not tax-free. If you could shed some light on this, that would be appreciated.
– Jake Penner
A. First, you are correct, Jake, the IRS does not honour the tax-free status of Tax-Free Savings Accounts (TFSA) and any income earned inside the account is reportable and taxable on your U.S. tax return, each year.
Related: Coming clean to the CRA
In addition, the TFSA may be considered a foreign trust by the IRS. If it is a trust, you will also be required to file Forms 3520-A & 3520 each year to report the account. If you own mutual funds or exchange-traded funds (ETFs) inside of any account other than a retirement account, you will need to sort out whether you are subject to Passive Foreign Investment Company (PFIC) rules annual reporting…
Are stock buybacks better for investors than dividends?
– moneysense.ca
ShutterstockThe discussion on dividends versus buybacks has been circulated over many years. Both are forms of distributing profits to shareholders, but they differ in many ways. A dividend provides a (usually) regular cash payment to investors while a share buyback is when a company purchases its own shares.
The buyback reduces the number of shares outstanding in the company, usually increases earnings per share (EPS) and increases share price. According to popular financial literature, in a world without taxes or transactions costs, a shareholder should be indifferent about whether receiving a dividend or capital gain in the form of a share buyback.
Related: Finding value in the soda aisle
However, in the real world, there seems to be many other aspects to consider for investors when choosing between dividend paying stocks or companies that repurchase shares. For example, certain industries are more prone to paying dividends rather than issuing share buybacks and vice-versa.
As well, stock repurchase programs are much more uncertain than dividend paying programs; where the latter may be more attractive to investors relying on an income stream from their investments…
Who reports capital gains if a stock is owned jointly?
– moneysense.ca
Q. My question is regarding stock capital gains, specifically in a joint account with my wife at TD Waterhouse. We had a capital gain of $30,000 this year in our non-registered account. At 50% each, our capital gain for tax purposes is $15,000. Do we each have to report a gain of $7,500? Or, does just one of us report the total gain? Or is there another option?
– Thanks, Eldon M.
A. Hi Eldon. Two things to know in reporting this transaction: first, how capital gains are taxed. This can be complicated, depending on the type of investment you have, but broadly speaking, when your Proceeds of Disposition are more than the Adjusted Cost Base minus your outlays and expenses, the result may be a capital gain. Half of that gain is taxable; that is, it is added to your other income for the year, and subject to your marginal tax rate.
Related: How to report capital gains tax owed on gifted shares
Capital gains can be offset by capital losses incurred in the current year, or by capital losses incurred in prior years…
