The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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Toronto millennials want to be homeowners but only 22% believe they can do it in the city: survey - CBC.ca + MORE Aug 25th
Toronto millennials want to be homeowners but only 22% believe they can do it in the city: survey CBC.caShould I stay or should I own: Half of Canadian millennials say they’d have to leave the city they love to buy a home Toronto StarRoyal LePage releases report that sheds li.... More »
How to file your taxes when you own ETFs Dec 19th
Ask MoneySense
Is it possible to handle investments without having an accountant or tax professional? I do my own income taxes and have used the tax receipts without any issues from my bank for mutual funds. Is it possible to invest in ETFs without hiring a professional at tax time? If they are in a.... More »
How do you take RDSP withdrawals? + MORE Jun 12th
Registered disability savings plans (RDSPs) were created in the 2007 federal budget, and the first accounts were opened in December 2008. It took a while for financial institutions to offer them and, even now, you cannot open RDSPs everywhere.
Most Canadians with RDSPs have only ever deposi.... More »
Caribbean islands begin preparations for Hurricane Irma - CTV News Sep 3rd
CTV NewsCaribbean islands begin preparations for Hurricane IrmaCTV NewsSAN JUAN, Puerto Rico -- Islands at the eastern end of the Caribbean Sea made preparations Sunday for approaching Hurricane Irma, a Category 3 storm that could threaten the area beginning Tuesday. Hurricane watches were posted fo.... More »
Scotiabank CEO downplays concerns raised over Canadian debt levels + MORE Mar 21st
TORONTO _ Scotiabank’s chief executive says he disagrees with recent red flags raised over Canada’s high debt levels by an international body, and that he is “comfortable” with the lender’s risk profile.
Brian Porter told a University of Toronto conference that he had a.... More »
CMHC says annual pace of housing starts picks up in November to 211,916
– canadianbusiness.com
OTTAWA – The Canadian housing market continued to show signs of strength as the annual pace of housing starts in November came in faster than expected.
The Canada Mortgage and Housing Corp(The Canadian Press) said Tuesday the annual pace increased to 211,916 units in November compared with 197,712 units in October.
That compared with the 197,300 that had been expected by economists, according to Thomson Reuters.
“Canadian homebuilding activity remains robust, and accelerating momentum through the latter stages of 2015 will likely catch the eye of policy-makers currently stewing over the strength in real estate,” Bank of Montreal senior economist Robert Kavcic said.
Overall, the rate of urban starts increased by 7.7 per cent in November to 195,121, boosted by a gain in multi-unit starts which increased by 13.2 per cent to 137,898. Single-detached urban starts fell 3.6 per cent to 57,223 units.
The pace of urban starts increased in the Prairies, Ontario, and Atlantic Canada, but fell in British Columbia and Quebec…
The Canada Mortgage and Housing Corp(The Canadian Press) said Tuesday the annual pace increased to 211,916 units in November compared with 197,712 units in October.
That compared with the 197,300 that had been expected by economists, according to Thomson Reuters.
“Canadian homebuilding activity remains robust, and accelerating momentum through the latter stages of 2015 will likely catch the eye of policy-makers currently stewing over the strength in real estate,” Bank of Montreal senior economist Robert Kavcic said.
Overall, the rate of urban starts increased by 7.7 per cent in November to 195,121, boosted by a gain in multi-unit starts which increased by 13.2 per cent to 137,898. Single-detached urban starts fell 3.6 per cent to 57,223 units.
The pace of urban starts increased in the Prairies, Ontario, and Atlantic Canada, but fell in British Columbia and Quebec…
Oil and gas stocks lead another decline in early trading as the price of crude oil sinks again
– canadianbusiness.com
NEW YORK, N.Y. – U.S stocks fell in early trading Tuesday following a sell-off in Asia and Europe as the price of oil continued to slide to seven-year lows. The losses were broad, with all 10 industry sectors of the Standard and Poor’s 500 index down.
KEEPING SCORE: The Dow Jones industrial average fell 228 points, or 1.3 per cent, to 17,503 as of 10:21 a.m. Eastern time. The Standard & Poor’s 500 index gave up 22 points, or 1.1 per cent, to 2,056. The Nasdaq composite dropped 50 points, or 1 per cent, to 5,051.
OIL SLUMP: Most of the biggest decliners were oil companies as U.S. crude dropped 18 cents, or 0.5 per cent, to $3.53 a barrel. That’s the lowest price since early 2009. Devon Energy and Kinder Morgan each lost about 4 per cent. Southwestern Energy fell 5 per cent.
REDBOX TUMBLE: Outerwall plunged $12.02, or 21 per cent, to $45.91 after lowering its earnings guidance and announcing the head of its movie kiosk division, Redbox, was leaving as rentals fall…
KEEPING SCORE: The Dow Jones industrial average fell 228 points, or 1.3 per cent, to 17,503 as of 10:21 a.m. Eastern time. The Standard & Poor’s 500 index gave up 22 points, or 1.1 per cent, to 2,056. The Nasdaq composite dropped 50 points, or 1 per cent, to 5,051.
OIL SLUMP: Most of the biggest decliners were oil companies as U.S. crude dropped 18 cents, or 0.5 per cent, to $3.53 a barrel. That’s the lowest price since early 2009. Devon Energy and Kinder Morgan each lost about 4 per cent. Southwestern Energy fell 5 per cent.
REDBOX TUMBLE: Outerwall plunged $12.02, or 21 per cent, to $45.91 after lowering its earnings guidance and announcing the head of its movie kiosk division, Redbox, was leaving as rentals fall…
As home sales in Toronto and Vancouver continue to hit record levels, the real estate sector in Canada’s second-largest city remains an outlier, with prices almost $100,000 less than the national average.
Loonie continues towards 11 1/2-year low, TSX and U.S. markets drop again
– canadianbusiness.com
TORONTO – The Canadian dollar and Toronto Stock Exchange continued to fall Tuesday morning.
The loonie was down of more than one-third of a cent and the main TSX index fell more than 100 points.
The S&P/TSX composite index was at 12,896.09, dropping 146.74 points or nearly one per cent from Monday’s close. The market fell 315.94 points or 2.4 per cent on Monday.
Canada’s dollar traded at 73.62 cents US — down 0.38 from Monday’s close, after the currency dropped 0.76 cent. The loonie is trading near lows set in late June 2004.
The Dow Jones average of 30 stocks was down 206.87 points at 17,523.64, the broader S&P 500 index fell 20.66 points to 2,056.41 and Nasdaq fell 40.16 points to 5,061.65.
On the commodity markets, the January crude contract was $37.53 per barrel, down 12 cents. The February gold contract fell $2.60 to US$1,072.60 an ounce — and the January contract for natural gas was down two cents at US$2.05.
Note to readers: This is a corrected story…
The loonie was down of more than one-third of a cent and the main TSX index fell more than 100 points.
The S&P/TSX composite index was at 12,896.09, dropping 146.74 points or nearly one per cent from Monday’s close. The market fell 315.94 points or 2.4 per cent on Monday.
Canada’s dollar traded at 73.62 cents US — down 0.38 from Monday’s close, after the currency dropped 0.76 cent. The loonie is trading near lows set in late June 2004.
The Dow Jones average of 30 stocks was down 206.87 points at 17,523.64, the broader S&P 500 index fell 20.66 points to 2,056.41 and Nasdaq fell 40.16 points to 5,061.65.
On the commodity markets, the January crude contract was $37.53 per barrel, down 12 cents. The February gold contract fell $2.60 to US$1,072.60 an ounce — and the January contract for natural gas was down two cents at US$2.05.
Note to readers: This is a corrected story…
2016 tax rates, TFSA limits changed. Now what?
– moneysense.ca
OTTAWA – High-income Canadians looking to minimize their federal income tax should look at taking any bonuses they may be due or big capital gains this year to avoid paying more when Ottawa’s new top rate kicks in next year.
Tax experts say if you are lucky enough to find yourself in Ottawa’s new top bracket — those earning $200,000 or more — you shouldn’t defer any income that you can take this year because you’ll pay more if you do.
Mariska Loeppky, director of tax and estate planning at Investors Group, said if you’re in the top bracket you can save yourself four per cent in federal tax for every dollar you can push into 2015 compared with 2016.
“In a high-income tax rate environment you’re going to want to look at all the things that can help you save tax,” she said.
Loeppky also suggested people may also want to defer claiming this year’s RRSP contribution until the 2016 tax year to maximize the benefit. She estimated that those in the top bracket could save $800 by deferring the deduction on a $20,000 contribution…
Tax experts say if you are lucky enough to find yourself in Ottawa’s new top bracket — those earning $200,000 or more — you shouldn’t defer any income that you can take this year because you’ll pay more if you do.
Mariska Loeppky, director of tax and estate planning at Investors Group, said if you’re in the top bracket you can save yourself four per cent in federal tax for every dollar you can push into 2015 compared with 2016.
“In a high-income tax rate environment you’re going to want to look at all the things that can help you save tax,” she said.
Loeppky also suggested people may also want to defer claiming this year’s RRSP contribution until the 2016 tax year to maximize the benefit. She estimated that those in the top bracket could save $800 by deferring the deduction on a $20,000 contribution…
