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Latest News
Paying capital gains tax on a loss + MORE Apr 24th
Q: My question today relates to the new changes to capital gains on real estate. My wife and I owned a condo for a number of years. We paid $80,000 in 2006 and sold for $140,000 in March 2016. The problem is we rented the unit out after we bought our house in 2011. Looking at the new formula for .... More »
How do the RRSP contribution carry forward rules work? + MORE Jan 17th
If I have $25,000 contribution room left in my RRSP, can I take that all at once plus my regular RRSP contribution of $27,230 for the tax year 2020? Effectively making a contribution of $57,230 to my RRSP?— Lorraine
The rules around RRSP contribution room
As soon as a taxpayer starts t.... More »
Should retirees speculate? + MORE Nov 12th
All investors need to know the difference between investing and speculation—often summed up as what you do with “serious money” versus “fun money”—and that’s doubly true for those at or near retirement. While investing is about building wealth you can count on, speculating typically me.... More »
How can you start investing in stocks? We make it make sense + MORE Mar 14th
This week, our question comes from 23-year-old Lea. She asks, “What are some basics on entering the stock market and investing in stocks for a first-timer?”.... More »
Making sense of the markets this week: November 23 Nov 20th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
It’s déjà vu vaccine all over again as we make sense of the markets
This week began, like last week, with some very positive (and welcome) news on the vaccine front. As yo.... More »
Fed keeps interest rate steady but hints at hike to come – CBC.ca
– news.google.ca
CBC.caFed keeps interest rate steady but hints at hike to comeCBC.caThe U.S. economy has strengthened since a slump early this year, the Federal Reserve said Wednesday, but it wants to see further gains in the job market and higher inflation before raising interest rates from record lows. The Fed gave no timetable for a rate …Falling Fed ForecastWall Street JournalFederal Reserve: Rate hike likely before year-endWashington Post (blog)US economy strengthening, but Fed seeking more growth before hiking ratesThe Globe and Mail (subscription)Reuters -The Australian Financial Reviewall 2,248 news articles »
Goldman Sachs Group Inc has told its summer investment banking interns not to stay in the office overnight in a bid to improve working conditions for its junior staff.
Canadians missing out on billions in retirement savings
– moneysense.ca
(Nash Photos/Getty Images)Canadians are missing out on billions of dollars of potential retirement savings every year by not taking full advantage of matching contributions by their employers in group RRSP and defined contribution retirement plans.
Tom Reid of Sun Life Financial estimates more than $3 billion a year of potential company contributions go unmade because employees don’t make the required matching contributions to obtain them.
“That accumulates into a big number in a very short amount of time,” said Reid, senior vice-president of group retirement services at the insurance company.
In a group registered retirement savings plan or DC pension plan, employees and their sponsoring company each make contributions. The amounts vary from plan to plan, with some mandatory and others voluntary.
Reid said it’s “kind of critical” to find a way to get people to contribute the maximum allowed by their plans.
“Where are you going to get a better return?” Reid asks.
“If your company is willing to match dollar for dollar or 50 cents on the dollar for the contributions you put in, you should put in as much as they let you…
The stock market loves HBC’s purchase of Germany’s leading department store chain Galeria Kaufhof. But will shoppers — here and there — buy in?
Ernst & Young quits as auditor for MagIndustries, TSX may delist company’s stock
– canadianbusiness.com
TORONTO – MagIndustries Corp. (TSX:MAA) says its external auditing firm has resigned, saying it was unable to complete its audit of the company’s 2014 financial statements in accordance with professional standards.
Ernst & Young’s resignation was effective Tuesday, the day MagIndustries announced that an internal investigation had found evidence that “black money” payments totalling several thousand dollars were paid by its subsidiaries to Congolese officials.
MagIndustries also said Tuesday that the special committee of directors that had been overseeing the board’s investigation has been dissolved due to a lack of funding and four of its directors including all members of the committee have resigned.
In addition to announcing the auditor’s resignation, MagIndustries said Wednesday that the Toronto Stock Exchange has given the company until July 17 to meet all requirements for a listing. Failure to comply could result in delisting 30 days later…
Ernst & Young’s resignation was effective Tuesday, the day MagIndustries announced that an internal investigation had found evidence that “black money” payments totalling several thousand dollars were paid by its subsidiaries to Congolese officials.
MagIndustries also said Tuesday that the special committee of directors that had been overseeing the board’s investigation has been dissolved due to a lack of funding and four of its directors including all members of the committee have resigned.
In addition to announcing the auditor’s resignation, MagIndustries said Wednesday that the Toronto Stock Exchange has given the company until July 17 to meet all requirements for a listing. Failure to comply could result in delisting 30 days later…
