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Get Ready For the RRSP Rush + MORE Feb 24th
There’s just 11 days until this year’s RRSP contribution deadline – will you be scrambling to make the most of your return?
While RRSPs can be used a multitude of ways, and enjoy a variety of tax benefits, it’s not always clear whether they’re the right choice for your finances. Check.... More »
Many Canadians Are Avoiding Retirement Planning, But Here’s How to Get on Track Aug 16th
Regardless of whether you’re saving for a new home, a business venture, or setting up for a family, planning for your financial future (and the financial future of your significant other) is crucial. Sure, you can set up automatic deposits to your savings account for long-term goals, but look.... More »
The tax implications of transferring a stock between spouses + MORE May 15th
My wife and I are joint owners WROS (with right of survivorship) of a stock we have owned for many years. If the ownership of the stock is changed to just her name, individually, no death involved, does her cost basis of the shares remain the same as it was when it was in our joint names?—Joe
T.... More »
Stock news: Cogeco, Roots, and BlackBerry deliver earnings gains but outlooks remain mixed + MORE Apr 15th
Here’s a round-up of news for Canadian investors this week.
Cogeco
Roots
BlackBerry
Featured RRSP Accounts
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EQ Bank
Build your retirement savings with 1.50% interest, t.... More »
Negotiate rent with your landlord to reap savings + MORE Apr 3rd
When working out a better rental rate, know your local market and keep emotion out of it, Lesley-Anne Scorgie advises..... More »
Canadian Debt Levels Are Higher Than Ever… But We’re Not Worried
– ratesupermarket.ca
When it comes to financial goals, debt repayment is the top New Year’s Resolution for many Canadians. In a blog post I wrote just last month, I discussed how Ontarians are choosing debt over retirement savings. Despite the fact that we’re finally starting to listen to the Bank of Canada’s message that interest rates aren’t going to be low forever, Canadians keep piling on debt. Even if you want to repay your debt, it could take some people a few years or longer to get their debt fully paid off.
Consumer Debt Continues to Rise
The facts don’t lie – Canadians love spending. The household debt-to-income ratio hit a new high in the third quarter of 2013, reaching 163.7 per cent. Although it’s not the best measure of consumer debt, it shows that Canadians continue to take on debt, despite the warning bells.
A recent survey from Equifax paints an even bleaker picture. Consumer debt, including mortgages, in Canada totaled $1.422 trillion in the fourth quarter of 2013, according to credit rating service…
2014 Conservative Budget Highlights You Should Know About
– ratesupermarket.ca
This Tuesday, February 11, 2014, Finance Minister Jim Flaherty unveiled the 2014 federal budget. While the government is still focused on eliminating the country’s deficit – it’s currently projected to be about $2.9 billion this year – there are a few carrots for some Canadians in this latest rendition. Here’s our breakdown of what to look for from the government this year.
No Income Splitting… Ever?
First off, one anticipated budget item that didn’t actually the cut is income splitting. Income splitting, which would allow Canadian families to “share” up to $50,000 of income in order to reduce their marginal tax rate, was a key part of the Conservatives election campaign platform in 2011.
While not particularly fiscally conservative (the plan could cost federal coffers up to $2.5 billion in lost tax revenue), it’s intended to target the more socially conservative wing of the party’s support. Specifically: families with stay-at-home moms. Critics have argued that the program would only really benefit a small percentage of Canada’s wealthiest families, while offering no tax-savings for single-parent families, or those where both parents are working for comparable, modest salaries and having to pay for childcare…
How to cut your hydro bill without really trying
– thestar.com
Energy prices are going nowhere but up. Home energy monitors are one way to help you find savings.How to cut your hydro bill without really trying
– thestar.com
Energy prices are going nowhere but up. Home energy monitors are one way to help you find savings.
