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Latest News
Shares of Primero Mining more than double after First Majestic takeover offer + MORE Jan 13th
VANCOUVER _ Shares in Primero Mining Corp., which owns the San Dimas silver-gold mine in Mexico, more than doubled in trading Friday after First Majestic Silver announced a deal to buy the company.
Primero shares (TSX:P) were up 15 cents at 27 cents in trading on the Toronto Stock Exchange, while sh.... More »
What expenses can you deduct for a second property in Canada? + MORE Sep 14th
If someone owns a second property, what can they deduct? Can they deduct the cost of purchasing or renovations?—Nicole
The types of expenses you can deduct for a second property
There are several expenses that can be deducted from a second property, particularly if it is designated as an inv.... More »
Montreal has best start to real estate market in 4 years, sales rise 10% in Q1 + MORE Apr 14th
MONTREAL – Greater Montreal’s real estate market is off to the best start in four years, with the number of residential sales up 10 per cent in the first quarter.
About 10,600 sales were concluded in the first three months of the year, with sales increasing in all five main geographic ar.... More »
How prorogation will impact capital gains tax changes in Canada + MORE Jan 6th
Justin Trudeau’s decision to step down and prorogue parliament will keep his government from implementing its proposed changes to capital gains for now, but Canadians might not be off the hook with tax collectors just yet.
The changes would raise the portion of capital gains on which companies .... More »
3 mistakes you might be making as a self-directed investor, and how to fix + MORE Jul 7th
If you’re a self-directed investor, you already know you’re saving a bundle on the fees and commissions that advisors and investment firms charge. Your take-charge attitude should pay off, so long as you steer clear of the investing errors below that can cost you your returns. To avoid that fate.... More »
Credit Suisse faces threat of new U.S. tax probe
– theglobeandmail.com
Credit Suisse may face a new investigation of its role in helping wealthy Americans to avoid paying taxes, after New York state’s top financial regulator requested documents from the Swiss bank.
Fed gives banks 2 more years to ensure holdings of risky securities fit Volcker Rule
– canadianbusiness.com
WASHINGTON – The Federal Reserve is giving U.S. banks two more years to ensure their holdings of certain complex and risky securities don’t put them afoul of the new Volcker Rule.
The Fed’s move announced Monday didn’t give banks an outright exemption for the securities from the Volcker Rule’s ban on high-risk investments. Wall Street banks had sought an exemption and the leading Wall Street lobbying group expressed disappointment with the Fed’s move.
The Volcker Rule, adopted in December, is intended to limit banks’ riskiest trading bets that could implode at taxpayers’ expense. That kind of risk-taking on Wall Street helped trigger the 2008 financial crisis. Congress mandated the Volcker Rule in its financial overhaul law.
The Fed gave banks until July 2017 to “conform” their holdings of the collateralized loan obligations, which are mainly backed by commercial loans.
The Fed previously had given banks a one-year extension, to July 2015…
The Fed’s move announced Monday didn’t give banks an outright exemption for the securities from the Volcker Rule’s ban on high-risk investments. Wall Street banks had sought an exemption and the leading Wall Street lobbying group expressed disappointment with the Fed’s move.
The Volcker Rule, adopted in December, is intended to limit banks’ riskiest trading bets that could implode at taxpayers’ expense. That kind of risk-taking on Wall Street helped trigger the 2008 financial crisis. Congress mandated the Volcker Rule in its financial overhaul law.
The Fed gave banks until July 2017 to “conform” their holdings of the collateralized loan obligations, which are mainly backed by commercial loans.
The Fed previously had given banks a one-year extension, to July 2015…
Capital gains explained
– moneysense.ca
What is it?
You have a capital gain when you sell, or are considered to have sold, what the Canada Revenue Agency deems “capital property” (including securities in the form of shares and stocks as well as real estate) for more than you paid for it (the adjusted cost base) less any legitimate expenses associated with its sale.
How is it taxed?
Contrary to popular belief, capital gains are not taxed at your marginal tax rate. Only half (50%) of the capital gain on any given sale is taxed all at your marginal tax rate (which varies by province). On a capital gain of $50,000 for instance, only half of that, or $25,000, would be taxable. For a Canadian in a 35% tax bracket for example, a $25,000 taxable capital gain would result in $8,750 taxes owing. The remaining $41,250 is the investors’ to keep.
The CRA offers step-by-step instructions on how to calculate capital gains.
How to keep more of it for yourself
There are several ways to legally reduce, and in some cases avoid, capital gains tax…
You have a capital gain when you sell, or are considered to have sold, what the Canada Revenue Agency deems “capital property” (including securities in the form of shares and stocks as well as real estate) for more than you paid for it (the adjusted cost base) less any legitimate expenses associated with its sale.
How is it taxed?
Contrary to popular belief, capital gains are not taxed at your marginal tax rate. Only half (50%) of the capital gain on any given sale is taxed all at your marginal tax rate (which varies by province). On a capital gain of $50,000 for instance, only half of that, or $25,000, would be taxable. For a Canadian in a 35% tax bracket for example, a $25,000 taxable capital gain would result in $8,750 taxes owing. The remaining $41,250 is the investors’ to keep.
The CRA offers step-by-step instructions on how to calculate capital gains.
How to keep more of it for yourself
There are several ways to legally reduce, and in some cases avoid, capital gains tax…
Quebec business community breathes sigh of relief at Liberal majority win
– canadianbusiness.com
MONTREAL – Members of Quebec’s business community breathed a collective sigh of relief Monday, hopeful that a majority Liberal government will herald an era of stability marked by new investments, jobs and real estate activity in the province.
“I think the business community will be pleased,” said Yves-Thomas Dorval, president of the Quebec Employers Council.
“There was a question mark in the air and now a majority government will certainly provide a better, stable and foreseeable environment.”
Just 18 months after going down to defeat in 2012, Philippe Couillard’s Liberals scored a resounding win Monday, prompting Pauline Marois to quit as Parti Quebecois leader after she lost both her government and her seat in the legislature.
With nearly 99 per cent of polls reporting, the Liberals were elected or leading in 70 seats, compared with 30 for the PQ and 22 for the third-place Coalition for Quebec’s Future. The Liberals claimed 41.4 per cent of the vote to the PQ’s 25…
“I think the business community will be pleased,” said Yves-Thomas Dorval, president of the Quebec Employers Council.
“There was a question mark in the air and now a majority government will certainly provide a better, stable and foreseeable environment.”
Just 18 months after going down to defeat in 2012, Philippe Couillard’s Liberals scored a resounding win Monday, prompting Pauline Marois to quit as Parti Quebecois leader after she lost both her government and her seat in the legislature.
With nearly 99 per cent of polls reporting, the Liberals were elected or leading in 70 seats, compared with 30 for the PQ and 22 for the third-place Coalition for Quebec’s Future. The Liberals claimed 41.4 per cent of the vote to the PQ’s 25…
Japan central bank upbeat, keeps ultra-loose monetary intact after sales tax
– canadianbusiness.com
TOKYO – Japan’s central bank has refrained from expanding its ultra-loose monetary policy despite a sales tax hike, saying the economy is recovering moderately.
The Bank of Japan’s policy statement Tuesday was the first since an April 1 increase in the sales tax, to 8 per cent from 5 per cent, that is expected to stall economic growth in coming months as consumers adjust to higher costs.
The BOJ said inflation is likely to remain at about 1.25 per cent for some time, below its target of 2 per cent.
“Business sentiment has continued to improve, although some cautiousness about the outlook has been observed,” it said. There has been an uptick in corporate investment, the bank said.
Japanese policymakers are counting on expectations of higher prices in the future to drive consumer spending and eventually prompt companies to invest more and create more jobs. The central bank’s assessment of current economic trends is calibrated to support that approach.
The bank’s decision to stand pat was expected…
The Bank of Japan’s policy statement Tuesday was the first since an April 1 increase in the sales tax, to 8 per cent from 5 per cent, that is expected to stall economic growth in coming months as consumers adjust to higher costs.
The BOJ said inflation is likely to remain at about 1.25 per cent for some time, below its target of 2 per cent.
“Business sentiment has continued to improve, although some cautiousness about the outlook has been observed,” it said. There has been an uptick in corporate investment, the bank said.
Japanese policymakers are counting on expectations of higher prices in the future to drive consumer spending and eventually prompt companies to invest more and create more jobs. The central bank’s assessment of current economic trends is calibrated to support that approach.
The bank’s decision to stand pat was expected…
