100 former students at U.S. Everest College owner go on 'debt strike' + MORE Mar 31st

Calling themselves the ‘Corinthian 100′ — named for the troubled Corinthian Colleges, Inc., which operated Everest College, Heald College and WyoTech before agreeing last summer to sell or close its 100-plus campuses — about 100 current and former students are refusing to pay back their student loans.

(Adam Gault/Getty Images)
Having to sell a losing stock or investment property for less than you paid is no fun—but there is a silver lining. That loss, called a capital loss, can be used to offset capital gains you realized on other investments that year (and in any of the three previous years), thus reducing your capital gains tax. Or, you can bank those capital losses to reduce any gains you might realize in the future—a perfect strategy for those who know they’ll be in a higher tax bracket later on, such as a stay-at-home parent who wants to return to work.
» How to pay less capital gains tax
Tax savings: The amount saved depends on how many stars and dogs there are in your portfolio, but it can be significant.
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You can save up to $800,000 in taxes with your family business (Getty Images / Paul Bradbury)
Want to save $800,000 in capital gains? Well here’s some good news: the government likes to encourage small business, so they’re willing to give you a one-time $800,000 capital gains exemption when you sell. Even better, this lifetime exemption isn’t limited to one family member—a boon for small businesses that will incur more than $800,000 in capital gains when sold. That $800,000 figure can be claimed by any family member with an ownership stake in the business provided they’ve held shares in the company for at least two years. So if a husband, wife and daughter each owned one-third of a family business, they would all be exempt—even if the sale of the business created $2.4 million in capital gains. Before you sell, just make sure you meet Canada Revenue Agency’s definition of a qualified small business, farm or fishing property.
» How to start your own business
Tax savings: On the disposition of qualified property, the $800,000 exemption would reduce your taxable income by $400,000…

(Martin Barraud/Getty Images)
Have extra RRSP room (and a spouse)? Try setting up a spousal RRSP account and make contributions to it in the name of your lower-earning partner. You’ll get the same advantage as if you were putting income into your own RRSP (a tax refund on contributions), but here’s the kicker: when the money is later withdrawn, it will be taxed in your lower-income spouse’s hands at a lower rate. Just be aware of the Canada Revenue Agency’s attribution rules: you can’t make a contribution in the same year you withdraw the money, or in either of the two previous tax years. Plus, the total combined contributions to your own RRSP and your spouse’s RRSP cannot exceed your own deduction limit.
» How spousal RRSP withdrawals work
Tax savings Take, for example, Alberta couple Joey, an oil sands worker earning $105,000 per year, and Claudia, a stay-at-home mom with no income. If Joey deposits $10,000 into a spousal RRSP for Claudia and leaves it there for three years, he’ll save $3,600 in taxes, because when the money is withdrawn it will be taxed at her lower marginal rate…

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