Not sure how to make a savings plan? Read on…
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Capital gains when selling property to family + MORE Mar 20th
Do I have to pay income tax if I inherited a property jointly with my sister and she bought me out for less than half the appraised value of the property?
—Johanna
Capital gains and transferring property between family
Asset sales between family members can be tricky to facilitate at a family leve.... More »
Best fixed-income ETFs for Canadian investors 2026 + MORE Apr 29th
With the downturn in stock markets in 2026, many investors are grudgingly coming around to the realization that they need exposure to other asset classes in their portfolios. And the most readily available is bonds, which have the advantage, historically, of being negatively correlated to stocks. Th.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Aug 13th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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The best high-interest savings accounts in Canada for 2026 + MORE Feb 18th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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MoneySense is an.... More »
The ins and outs of tax and estate planning for a RRIF + MORE Apr 5th
Q: I’m 81, single, female, with around $265,000 in a RRIF (invested in two different financial institutions, both mutual funds). My withdrawal is about $12,000 a year.
How can I minimize tax payable (by my beneficiaries) at death?
— Lydia
A: The tax savings and deferral from contributing t.... More »
How to gift an RESP to a child
– moneysense.ca
Q: Can an aunt, uncle or grandparent open an RESP or RRSP for a grandchild, niece, nephew or child as a gift?—Liz A
A: Giving the gift of investing can be much better than an ugly Christmas sweater. It’s kind of like a gift card that can be redeemed for life experiences like education or retirement instead of consumer goods.
It’s fairly common practice for a grandparent to open a Registered Education Savings Plan (RESP) for a grandchild, Liz. But there’s nothing to stop someone from doing the same for their nieces and nephews, or any child, for that matter. You should, however, coordinate your contributions with the child’s parents. At the very least, you will need to obtain the child’s social insurance number from them, which is used to track all contributions made on behalf of that child.
Lifetime RESP contributions of up to $50,000 can be made for any RESP beneficiary, even if the contributions are made to multiple RESP accounts by multiple contributors. However, only the first $2,500 of annual contributions is eligible to receive the lucrative 20% Canada Education Savings Grant (CESG) from the government…
