TSX getting you down? There are always sound investment alternatives.
Latest News
How it works: Capital gains tax on the sale of a property + MORE May 3rd
Capital gains. Even the mention of these two words together can immediately conjure myths about owing the government 50% of the money earned from selling a home. But, like most rumours, it’s only half true—for now. You may have also heard that Budget 2024, the Canadian federal government introdu.... More »
The best GIC rates in Canada for 2024 + MORE Aug 19th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigat.... More »
Stock news for investors: Groupe Dynamite reports strong Q4, adjusts 2025 outlook + MORE Jan 16th
Here’s a round-up of news for Canadian investors this week.
Groupe Dynamite
Lululemon
Kinross Gol
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savings with 1.5.... More »
Old-school financial advice that no longer applies Feb 12th
Buying a starter home, living on one income and staying in the same job for 40 years—life was very different for older generations and many young people have realized what worked for their parents doesn’t necessarily work in today’s modern world.
As younger Canadians continue to fac.... More »
Compare the best GIC rates in Canada 2023 Feb 15th
Investing
The best GIC rates in Canada for 2023
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Compare now
Tap "Return to top" to come back here.
.... More »
Tax Implications of Receiving a Cash Gift in Canada
– canadiancapitalist.com
When it comes to financial transactions with loved ones, many people consider giving or receiving cash gifts. This can be especially common when the gift-giver and recipient are located in different countries. In this article, we will focus on the specific topic of cash gifts from overseas to Canada. It is important to understand the rules and regulations surrounding cash gifts, as well as any tax implications, in order to avoid any potential issues or misunderstandings. This article aims to provide useful information for anyone considering sending or receiving a cash gift in Canada.
Whether you are a Canadian resident looking to receive a cash gift from abroad, or a non-Canadian resident looking to send a cash gift to a friend or family member in Canada, this article will cover the key considerations you need to be aware of.
Definition of a Cash Gift
A cash gift refers to a sum of money that is given to someone without the expectation of receiving anything in return. It is important to note that a cash gift is different from other types of financial transactions, such as a loan or a sale…
Whether you are a Canadian resident looking to receive a cash gift from abroad, or a non-Canadian resident looking to send a cash gift to a friend or family member in Canada, this article will cover the key considerations you need to be aware of.
Definition of a Cash Gift
A cash gift refers to a sum of money that is given to someone without the expectation of receiving anything in return. It is important to note that a cash gift is different from other types of financial transactions, such as a loan or a sale…
