Tim Hortons deal may help Burger King lower tax bill on non-U.S. operations + MORE Aug 26th

TORONTO – If Burger King ends up moving its head office to Canada as part of a deal with Tim Hortons, there could be tax savings for the multinational restaurant chain, tax experts say.
Not only does Canada have a lower rate of corporate income tax than the United States, it generally doesn’t charge any tax on income generated by foreign subsidiaries if they pay taxes in a country covered by a treaty with Ottawa.
The United States, on the other hand, does impose taxes on the foreign subsidiaries of American multinational corporations and, on top of that, charges a rate that’s higher than many other advanced countries.
KPMG, a multinational accounting and tax advisory firm, recently ranked Canada as the most tax-competitive of 10 advanced economy countries studied, including the United States, which ranked fifth in overall tax burden.
“Their tax system is really out of step with much of the rest of the world in much of what is good tax policy,” said Tim Wach, a partner and expert on international taxation at Gowlings, a Toronto-based law firm…

RateSupermarket.ca survey finds average cost of bank loyalty to be $644.43
 

Canadians may be a loyal bunch when it comes to the “Big 5” lenders – but even the most dedicated consumer would switch banks for significant savings. A recent survey conducted by RateSupermarket.ca, Canada’s comprehensive rate comparison site, found 84% of consumers would consider a switch – as long as they’d save an average of $644.43.
Not sure if YOU should switch banks? Take the RateSupermarket.ca Summer Fling challenge to find out – plus you’ll be entered to win a $2,500 cash prize before August 31! Take the challenge>

The survey, which polled consumers on their banking history and sentiments, found Canadians are creatures of habit when it comes to their banks – 53% reported being with their primary lender for over 10 years, despite 27% saying they “didn’t know” if they were happy with their products and services.
“Canadians highly value trust and convenience when managing their money,” says Penelope Graham, Editor at RateSupermarket…

A few weeks ago—after spending much of the last decade warning readers against the perils of Canada’s overheated housing market—I did the unthinkable: I bought a place. When I told MoneySense investing columnist Norm Rothery, he was dismayed. Didn’t I know that homes in Toronto are way overpriced? Why would any sane person pay such a ridiculous sum for such a tiny shack?
He has a point. Canadian homes are indeed rather pricey by almost any measure: the cost of buying versus renting, historical house price trends, even by basic affordability measures. I have predicted several times that the market is due for a nasty 20% correction. So how could I—a happy renter for many years—suddenly turn around and squander my life savings on an overpriced pile of bricks?
The reason is simple: I want to eventually retire with a paid-off house, and I was running out of time. Besides, I don’t see my house as an investment, as a means to an end. It’s a purchase—it’s what I’ve been saving my money for…

Did you know: Canadians identify their “main bank” as the one where they keep their chequing account. 91% of consumers have one at their primary lender, according to our recent study. But things get foggier when it comes to why they signed up with their bank in the first place – in a recent street poll, many stated they’d been with their banks since childhood. Seems like it’s high time we explored our options for greater value!
You can check out the full study – and the included video below, along with this week’s top headlines.
VIDEO: Canadians Are Willing to Switch Banks… If the Price is Right
Canadians may be a loyal bunch when it comes to the “Big 5” lenders – but even the most dedicated consumer would switch banks for significant savings. A recent survey conducted by RateSupermarket.ca, Canada’s comprehensive rate comparison site, found 84% of consumers would consider a switch – as long as they’d save an average of $644.43.
Read on for the full study AND our new video!
VIDEO | Canadians Are Willing to Switch Banks… If the Price is Right
Ask the Experts: Should We Tear Down Our Home?
Introducing our Ask the Expert series! We’ll be answering your top finance questions – and looping in the top experts to share their wisdom…

Welcome to RateSupermarket.ca’s Ask the Experts series! In each post, we’ll look at real financial issues from readers, and get the expert take on how they should proceed. Want to take part? Email your finance question to Penelope@ratesupermarket.ca with the subject line Ask The Experts. Here, parents Nina and Keith wonder if they should add on to their existing home to accommodate their family – or if a bulldozer is in their near future.
Keith and Nina: Drawing The Line On Home Improvements
Financial Profile:

Household income of $180,000
House value of $520,000
Remaining mortgage of $135,000
No RRSP savings, but both are on track to get healthy defined pensions through their workplaces
 Education savings in place for two children, with $100 contributed to each monthly
One car, paid off

Keith and Nina need a bigger space but don’t want to move from their Scarborough-area home. They own a house on a large plot. For that reason, they are looking at two choices:

Extending their existing home…