How to go about securing the best policy for your insurance in Canada.
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How does rent from a family member or common-law partner get taxed? Jan 28th
A client of mine told me (Ontario) that his girlfriend moved in and is paying $1,000 per month towards household costs. They won’t be common-law for 3 years in Ontario. Would this count as tax free?—Hans
There are a few considerations here for your client, Hans. I will break them down. .... More »
How to calculate the taxable amount for a cashed-in whole life insurance policy + MORE Apr 18th
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I cashed in my whole life insurance policy last year and received a T5 suggesting I have to pay tax on the full amount of my cash value. Is this correct? The cash surrender value was $27,000, I paid $28,000 in premiums, and they told me my pure cost of net insurance was $30,000, whate.... More »
The best Aeroplan credit cards in Canada for 2023 + MORE Jan 19th
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Best cash back credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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Consumer-first finance: How USDC Rewards are changing the game Nov 20th
While traditional savings accounts offer minimal returns, cryptocurrency platforms are presenting Canadians with new options for their cash. Coinbase’s latest offering—3.85% rewards* on USDC balances—highlights a growing shift in how people think about storing and growing their money.
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TFSA contribution room calculator Aug 12th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
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Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like&nb.... More »
What is tenant insurance?
– moneysense.ca
Tenant insurance, also known as renters or contents insurance, is one of the costs of adulting that seems to have no payback. But the reality is that you likely can’t afford not to have tenant insurance. The cost of a policy (which can range from $15 to $30 a month) is a small price to pay when you consider that it protects your valuables, against liability in case of an accident and, ultimately, peace of mind.
What is tenant insurance?
In its most basic form, tenant insurance is coverage that protects you and your personal items if you rent your home. But according to the Insurance Bureau of Canada (IBC), tenants are also legally responsible for property damages—accidental or otherwise—and for any injuries their visitors may suffer. Tenant insurance protects you against that too.
If you cause a grease fire, for example, and there’s smoke damage to your apartment, your neighbour’s apartment and communal areas outside of your rented space, you’ll have to cough up all related expenses…
