There are more investment options in Canada than you can shake a stick at! Stay on top of the best returns right here.
Latest News
Complacency, competition, and Canada’s productivity crisis + MORE Oct 10th
A senior official at the Bank of Canada is calling for more competition in the banking sector to better serve Canadians and the economy. Senior deputy governor Carolyn Rogers laid out her case for a more competitive Canada in a speech at the Canadian Club in Toronto on Thursday morning. Rogers sound.... More »
Can you move income back and forth between spouses? + MORE Aug 18th
Ask MoneySense
I have an investment property (condo) in my name. I would like to sell it and [have the proceeds] paid out half to me and half to my spouse. The plan is to make the maximum RRSP contribution for both of us to minimize the capital gain.
Is that plan OK, legal, and wise?
–Zlatko.... More »
Making sense of the markets this week: July 14, 2024 Jul 12th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Are U.S. rate cuts on the way?
While Canada’s inflation rate is obviously at the forefront around decision making.... More »
What’s behind the retreat in responsible investing? + MORE Oct 15th
Socially responsible investing is down but not out in Canada, a new survey of investment advisors by the Responsible Investment Association (RIA) has found. Just under two-thirds of advisors (64%) report using responsible investing (RI) approaches and investments, down from 73% in 2023. But the shar.... More »
Mortgage broker vs. bank—which will save you more money? Jun 1st
Choosing a mortgage broker or a bank for your home loan will likely influence which mortgage you end up with. On top of that, there are pluses and minuses to both, as we detail in the table below. Before we dive into which may best suit your financial situation, let’s look at the differences betwe.... More »
How it works: Capital gains tax on the sale of a property
– moneysense.ca
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 introduced an increase on certain capital gains. That’s 100% true.
For individuals with a capital gain of more than $250,000, they will be taxed on 66.67% of the gain as income—up from the current 50% rate. This inclusion rate change comes into effect on June 25, 2024. Every week, our inbox is full of letters from readers asking how to avoid the capital gains tax. They want to know how to work the system and keep more money in their pockets. Listen, it’s valid to want to hold on to the money earned off of the sale of a secondary residence (cottage, second home) and an investment property (rental or commercial property). According to RE/MAX Canada’s Cottage Trends in Canada in 2023 report, the average price of a cottage in Canada is expected to rise this year by 0…
