How to go about securing the best return for your investment in Canada.
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Is building an emergency fund more important than other financial goals? Jun 1st
Q. I am 51, single and have no dependents, with many working years ahead of me. I earn about $70,000 annually at my tech job. Due to life circumstances, my finances are not in the best shape.
I have $6,000 in emergency fund savings in a high-interest savings account, $16,000 in an RRSP ($70,000 cont.... More »
Ontario Teacher’s Pension Plan bringing in new investment partners at UK airports + MORE Oct 31st
LONDON _ The Ontario Teachers’ Pension Plan says it is selling off 30 per cent of its stakes at two United Kingdom regional airports to broaden its investment strategy.
The deal will see Australia’s New South Wales Treasury Corporation and Sunsuper Superannuation Fund each acquire a 15 p.... More »
Who pays tax on cash gifts in Canada? Mar 19th
Ask MoneySense
Is there a tax on cash gifts to children in Ontario?
—Virginia
Tax on gifts and loans to children in Canada
When you give cash to a child, Virginia, there are generally no tax implications for the recipient. They do not have to worry about paying tax on it, no matter where.... More »
Gold draws 'hideout' demand as Deutsche Bank rattles markets anew - MarketWatch + MORE Sep 30th
Gold draws 'hideout' demand as Deutsche Bank rattles markets anewMarketWatchGold futures prices firmed Friday, aiming for back-to-back session gains and limiting losses for the week, as global market jitters sparked by German financial giant Deutsche Bank boosted the haven appeal of the pr.... More »
BlackBerry reports $148M US loss in 3rd quarter on lower revenue - CBC.ca + MORE Dec 19th
CBC.caBlackBerry reports $148M US loss in 3rd quarter on lower revenueCBC.caBlackBerry narrowed its net loss to $148 million US in its third quarter and did better with adjusted earnings than expected, but ultimately missed expectations with lower revenue on fewer smartphone sales. Early Friday, the.... More »
Mega Brands reports lower Q4 net earnings of $1.4 million
– canadianbusiness.com
MONTREAL – Mega Brands Inc. (TSX:MB) says nets earnings in the fourth quarter came in at $1.4 million, or four cents per diluted share.
That was down sharply from net earnings of just over $4 million, or a penny per diluted share, in the same quarter a year before.
The results comes less than a week after Mattel, Inc. made a friendly takeover offer for Mega Brands, the world’s No. 2 line of construction sets after Lego.
The deal, expected to close in the second quarter, values the Montreal-based company at US$460 million, including debt that Mattel will assume or repay.
Mega Brands says net sales fell 21 per cent in the quarter to $101.2 million, compared to $127.5 million in the same quarter of 2012.
Sales were down 24 per cent in the toys segment and by three per cent in stationery and activities.
On a geographic basis, North American sales were down 20 per cent and international net sales decreased 23 per cent.
The company blames the decline on ”difficult retail environment” which affected the entire toy industry, particularly in products for boys…
That was down sharply from net earnings of just over $4 million, or a penny per diluted share, in the same quarter a year before.
The results comes less than a week after Mattel, Inc. made a friendly takeover offer for Mega Brands, the world’s No. 2 line of construction sets after Lego.
The deal, expected to close in the second quarter, values the Montreal-based company at US$460 million, including debt that Mattel will assume or repay.
Mega Brands says net sales fell 21 per cent in the quarter to $101.2 million, compared to $127.5 million in the same quarter of 2012.
Sales were down 24 per cent in the toys segment and by three per cent in stationery and activities.
On a geographic basis, North American sales were down 20 per cent and international net sales decreased 23 per cent.
The company blames the decline on ”difficult retail environment” which affected the entire toy industry, particularly in products for boys…
Mandatory Withdrawals – RRIF 101
– myownadvisor.ca
Mandatory account withdrawals – sounds fierce but that’s what a Registered Retirement Income Fund (RRIF) is partly about. This is my favourite definition for a RRIF: it’s like a Registered Retirement Savings Plan (RRSP) in reverse.
Here’s my primer for Registered Retirement Income Funds (RRIFs):
Here’s my primer for Registered Retirement Income Funds (RRIFs):
You can choose the types of investments to hold in a RRIF; individual stocks, Exchange Traded Funds (ETFs), mutual funds and more.
You don’t have to start a RRIF when you retire but you must collapse your RRSP in the year you turn age 71, so rolling RRSP investments into a RRIF is one option for you.
Like the RRSP, you don’t pay any tax on the money earned from investments inside the RRIF.
You pay tax on the money withdrawn from a RRIF.
You cannot contribute money to a RRIF; it’s a money-goes-out account.
Once the RRIF is established you are forced to make minimum withdrawals, meaning you may need to sell investments inside the account to meet those minimum withdrawals. Here are the requirements:
Age
RRIF Withdrawal*
Age
RRIF Withdrawal*
65**
4…
Miners misplace hopes for cash in private firms
– theglobeandmail.com
Analysts say real capital dedicated to the industry only found in handful of specialist investment houses
120 days – 1.70%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2013-11-28. Click on the link above to get more details or apply online.
5.5 year – 2.77%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-01-25. Click on the link above to get more details or apply online.
