All about Canadian Savings. Learn the ins and outs and get the latest news.
Latest News
CPP payment dates this year, and more to know about the Canada Pension Plan + MORE Aug 6th
In Canada, no retirement plan is complete without considering the CPP. Whether you’re approaching retirement or still several years away from it, the Canada Pension Plan will likely play a role in your retirement income. How big a role depends on several factors. You may have other questions, too..... More »
The best high-interest savings accounts in Canada for 2025 + MORE Mar 18th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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Looking for a mortgage in B.C.? Don’t limit your options to the big banks + MORE May 28th
At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... More »
My three kids chose different educational paths. How do I withdraw RESP funds in a way that’s fair to them and avoids unnecessary taxes? Jul 25th
Q. I have a Registered Education Savings Plan (RESP) for my three children, the youngest of whom is starting university this fall. We have made some withdrawals for the older two kids but the plan is still well-funded. Our middle child has decided to pursue a co-op university program, which is esse.... More »
How to draw money out of your corporation in retirement Nov 7th
Incorporated business owners can sometimes be unsure of how best to decumulate, drawing from their corporate savings along with their other investments and pensions. Corporate savings do provide complexity as well as opportunity.
From paying yourself a salary to drawing income
Business owners .... More »
Canada’s 10 best Mastercard credit cards for 2021
– moneysense.ca
As one of the top credit card companies in the world, Mastercard is extremely popular and also widely accepted. For those already banking at BMO Bank of Montreal, a major Canadian bank that’s associated with Mastercard, these cards may offer all the perks you’re after, along with opportunities to “double dip” on rewards or loyalty programs. Whether you’re looking to earn points or cash, travel more or keep your interest rates down, chances are there’s a Mastercard for you on this list. (Want to consider other options? Browse our full list of the best credit cards in Canada.)The best Mastercard credit cards in Canada
Card
Rewards / Features
Annual fee
Tangerine Money-Back
(get more details)*
2% cash back in up to 3 spending categories
0.5% on everything else
$0
Rogers World Elite
(get more details)
3% cash back on USD purchases (0.5% after FX fees)
1.5% on everything else
$0
BRIM Financial Mastercard
(get more details)*
1 pt/$1 on everyday purchases
No FX fees
Get bonus points at eligible retailers
1 pt = 1% in cash back
$0
PC Financial World Elite
(get more details)*
45 pts/$1 at Shoppers Drug Mart
30 pts/$1 at Loblaws banner stores
10 pts/$1 on everything else
10 pts = 1% in savings
$0
MBNA Rewards Platinum Plus
(get more details)*
2 pts/$1 on groceries, gas and dining (on the first $500 spent per month)
1 pt/$1 on everything else
1 pt = 1% in travel rewards
$0
BMO World Elite
(get more details)*
3 pts/$1 on travel, dining and entertainment
2 pts/$1 on everything else
Airport lounge access
1 point = 0…
“Where do we pay income tax if we retire abroad?”
– moneysense.ca
Q. We’re thinking about moving to Mexico full-time when we retire. Where would we pay income tax on our monthly Canadian pensions?
–Marianna
A. Many Canadians dream of a retirement that includes travel abroad. Some even move abroad part of the year, most of the year, or give up their Canadian residency entirely.
In the case of Mexico, Marianna, a taxpayer is considered a resident of Mexico if they have a permanent home available to them in Mexico. If they have homes in both Mexico and Canada, the location of their centre of vital interests—their personal and economic ties—must be considered.
The courts typically refer to the residence article of the OECD Model Tax Convention when defining centre of vital interests:
“If the individual has a permanent home in both Contracting States, it is necessary to look at the facts in order to ascertain with which of the two States his personal and economic relations are closer. Thus, regard will be had to his family and social relations, his occupations, his political, cultural, or other activities, his place of business, the place from which he administers his property, etc…
–Marianna
A. Many Canadians dream of a retirement that includes travel abroad. Some even move abroad part of the year, most of the year, or give up their Canadian residency entirely.
In the case of Mexico, Marianna, a taxpayer is considered a resident of Mexico if they have a permanent home available to them in Mexico. If they have homes in both Mexico and Canada, the location of their centre of vital interests—their personal and economic ties—must be considered.
The courts typically refer to the residence article of the OECD Model Tax Convention when defining centre of vital interests:
“If the individual has a permanent home in both Contracting States, it is necessary to look at the facts in order to ascertain with which of the two States his personal and economic relations are closer. Thus, regard will be had to his family and social relations, his occupations, his political, cultural, or other activities, his place of business, the place from which he administers his property, etc…
