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Latest News
Canada’s best cash back credit cards 2020 + MORE May 8th
The concept behind cash back credit cards is very easy to understand. You get a small percentage back on purchases you make with the card, and the reward comes in the form of cash back, meaning money. The beauty of this system is that cash back rewards are flexible and you can spend them on anything.... More »
Bond Yields Rise, Stocks Dip as Metals Push Higher: Markets Wrap - Yahoo Canada Finance Feb 22nd
Bond Yields Rise, Stocks Dip as Metals Push Higher: Markets Wrap Yahoo Canada FinanceWorld shares sink as bond yields, commodities surge By Reuters Investing.comGlobal Financial Markets Steady Early Monday Amid Rising Global Bond Yields FX EmpireWorld shares sink as .... More »
Webull Canada Review 2024 + MORE Feb 15th
Webull has arrived in Canada recently. The buzzy stock trading platform, which has 11 million customers around the world, announced on January 2 that it was accepting applications for Canadian accounts. Should you use Webull?
Is Webull available in Canada?
Yes. Webull Corporation, a pop.... More »
High borrowing costs, record completions lead to condo oversupply Sep 12th
Greater Toronto Area-real estate watchers say the combination of high interest rates and an uptick in new condo units coming online has led to an oversupply that will take time to balance out.
A report by TD economist Rishi Sondhi said sales activity hasn’t been absorbing supply fast enough.... More »
Backlash grows for ‘selfish millionaire’ who got vaccine meant for Indigenous people - The Guardian + MORE Jan 27th
Backlash grows for ‘selfish millionaire’ who got vaccine meant for Indigenous people The GuardianBusiness exec and his wife charged after flying into remote Canadian town to get Covid-19 vaccine, officials say CNNB.C. couple accused of flying to Yukon to get vaccinated must.... More »
Getting back into the saddle after a big loss
– investitwisely.com
There comes a day in every trader’s career when it all seems to go wrong. A big financial loss can happen in many ways and for many different reasons. It can be sudden or sustained – one bad moment or a run of bad days. Maybe you took your eye off the ball or got overconfident, resulting in a loss of discipline. It may have been that big gamble that didn’t pay off, or simply an unlucky streak. Sometimes technology can fail, or you may be caught in the swell of a wider market or sector-wide crash.Whatever the reasons, it’s important to bounce back, not just financially and professionally but also mentally and emotionally. In the latter case especially, this isn’t easy. Financial trading can have a reputation as a somewhat macho culture, but hiding our feelings to prove that we can handle it isn’t the best way to deal with anything. Yes, it’s important to get back in the saddle after a big loss, but doing so successfully takes time and focus.
Rebuilding your confidence
It’s possible that it was overconfidence that caused your downfall in the first place, but you still need to get your confidence back if you’re going to trade successfully again…
Who pays the tax on dividends earned in a joint account?
– moneysense.ca
Q. I have built up a large stock portfolio by reinvesting the dividends over many years. If I open a joint account with my son, who is 19 years old, and he receives the dividends in cash, who pays the tax? And is this a good way to reduce taxes in our household?
–Sam
A. At first glance, the question of who owns an investment and who reports the investment income at tax time seems to be confusing but, in fact, it’s quite clear from the Canada Revenue Agency’s (CRA’s) point of view. The person who contributes the funds to an investment is the person who must report the income. Even if you open a joint account with your child and he or she receives the income, you are required to report this income on your tax return.
As you can see, this will not reduce taxes in your household. However, one CRA-approved option for splitting the income from your portfolio would be to gift all or some of the shares to your child. This will result in a capital gain to you, as you will have a deemed disposition of shares at the market value of those shares on the date of the disposition (or sale)…
–Sam
A. At first glance, the question of who owns an investment and who reports the investment income at tax time seems to be confusing but, in fact, it’s quite clear from the Canada Revenue Agency’s (CRA’s) point of view. The person who contributes the funds to an investment is the person who must report the income. Even if you open a joint account with your child and he or she receives the income, you are required to report this income on your tax return.
As you can see, this will not reduce taxes in your household. However, one CRA-approved option for splitting the income from your portfolio would be to gift all or some of the shares to your child. This will result in a capital gain to you, as you will have a deemed disposition of shares at the market value of those shares on the date of the disposition (or sale)…
