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Latest News
CPPIB grows presence in Hong Kong logistics real estate with Goodman partnership + MORE Dec 9th
TORONTO _ The Canada Pension Plan Investment Board is investing $320 million in a partnership with more than a dozen modern logistics properties in Hong Kong.
The Goodman Hong Kong Logistics Partnership, created in 2006, has assets worth about C$4.7 billion including a 50 per cent interest in Goodma.... More »
“Why do I need a financial plan?” + MORE Jan 12th
Q. I am in my early 50s, have a steady job, I’m not a big spender, and I make RRSP contributions. Why would I need a financial plan? I don’t see how it could help me.
–Tom
A. To answer your question (and it’s a good one!), let’s think about why people get a plan, the benefits of having a p.... More »
Do I need to retire my debt, before I retire myself? Dec 23rd
Q: So, I’m retiring (single male 65) with $850,000 total in RRSPs and a DCP where I currently work.
I have no debt. I owe $50,000 on a $500,000 home. I pay $730/month. Mortgage is due May 2019. Penalty would be minimal. Should I pay it out in 2018, my first year ‘unemployed’? What are my opt.... More »
This 30-year-old freelancer makes $125,000 a year and pays modest rent living with his parents. Should he invest in retirement or buy a home? + MORE Feb 3rd
Jeremy says his main goal is to save for retirement, but after looking at condos online, he’s trying to decide if that will be a worthy investment..... More »
Who Wants to Support a Millionaire? Dec 2nd
The median American household can’t come close to affording the pension benefits of career government workers..... More »
Will you contribute to an RRSP this year?
– moneysense.ca
Three in 10 (31%) of Canadians plan to contribute to their Registered Retirement Savings Plan (RRSP) this year, down from 39% in both 2012 and 2011, a new poll for Scotiabank ahead of this year’s March 3 deadline has found. Fourteen per cent are undecided.
With just eight weeks left to contribute and qualify for a tax deduction for the current tax year, roughly three-quarters of poll respondents with an RRSP said they’ve thought about contributing more but cite a lack of funds as the top reason for not contributing more.
The study also found that 40% of Canadians with an RRSP have withdrawn funds. Sixteen per cent did so to take advantage of the first-time Home Buyers Plan credit, which allows you to withdraw funds tax-free as long as you replace the amount within 15 years. Unfortunately, the study also revealed more people are dipping into their retirement savings to cover day-to-day living expenses (8% vs. 5% in 2012) pay down debt (8% vs. 6% in 2012) and pay for home renovations (5% vs…
With just eight weeks left to contribute and qualify for a tax deduction for the current tax year, roughly three-quarters of poll respondents with an RRSP said they’ve thought about contributing more but cite a lack of funds as the top reason for not contributing more.
The study also found that 40% of Canadians with an RRSP have withdrawn funds. Sixteen per cent did so to take advantage of the first-time Home Buyers Plan credit, which allows you to withdraw funds tax-free as long as you replace the amount within 15 years. Unfortunately, the study also revealed more people are dipping into their retirement savings to cover day-to-day living expenses (8% vs. 5% in 2012) pay down debt (8% vs. 6% in 2012) and pay for home renovations (5% vs…
Analysis: Clock's ticking on RRSP deadline
– canoe.ca
Understanding the family finances from a “big picture” standpoint can be a very daunting and intimidating exercise to tackle. It seems that as we hurdle through life’s challenges, it is easy to get caught up in the day-to-day activities and roll from one bill to the next without giving much thought to an end goal.
OTTAWA – It’s not just the temperatures that are freezing on this first day of 2014.
The federal government says it’s freezing Employment Insurance premiums, and generally keeping taxes low.
But the Canadian Taxpayers’ Federation says the EI “rate freeze” will actually mean that premiums will go up slightly for some.
In its annual New Year’s Tax Changes report, the federation calculates that maximum employee EI rates will go up by $23 in 2014 to $914.
It says maximum EI premiums paid by employers will also rise by $31 to $1,279.
Overall, EI premium rates will remain at 2013 levels, at $1.88 per $100 of insurable earnings.
The federation adds that Canada Pension Plan premiums will be hiked by $140 for workers earning at least $52,500 per year.
But there will be bigger tax breaks for people who donate to charities for the first time.
They will receive a credit of 40 per cent of the first $200 they donate, rather than the normal 15 per cent credit.
The tax credit for donations over $200 is also rising, to 54 per cent for first time donors, rather than the previous 29 per cent…
The federal government says it’s freezing Employment Insurance premiums, and generally keeping taxes low.
But the Canadian Taxpayers’ Federation says the EI “rate freeze” will actually mean that premiums will go up slightly for some.
In its annual New Year’s Tax Changes report, the federation calculates that maximum employee EI rates will go up by $23 in 2014 to $914.
It says maximum EI premiums paid by employers will also rise by $31 to $1,279.
Overall, EI premium rates will remain at 2013 levels, at $1.88 per $100 of insurable earnings.
The federation adds that Canada Pension Plan premiums will be hiked by $140 for workers earning at least $52,500 per year.
But there will be bigger tax breaks for people who donate to charities for the first time.
They will receive a credit of 40 per cent of the first $200 they donate, rather than the normal 15 per cent credit.
The tax credit for donations over $200 is also rising, to 54 per cent for first time donors, rather than the previous 29 per cent…
