All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
How is a non-registered account taxed upon death? + MORE Jan 14th
Ask MoneySense
With so much information out there about estate planning with RRSPs and TFSAs, the one thing l find hard to find answers to are [questions] related to investments in a non-registered account in a brokerage. I am trying to draw down my RRSPs and RRIFs in a tax-efficient manner so that.... More »
Air France KLM Flying Blue Promo Awards - Save 25% on award tickets between Calgary, Toronto, Vancouver & Europe + MORE Jul 4th
The newest set of Air France KLM's Promo Awards went last Friday and for us Canadians this set has three cities for us! We haven't seen a Canadian city in the Promo Awards list since February so this is great news. With promo awards the discount ranges from 25 to 50% off the regular amount of mil.... More »
This Week in RWRDS: March 16 – 22, 2024 + MORE Mar 23rd
This week we look at the new BMO Shell partnership that offers up 7 cents per litre in savings, RBC Avion Rewards joining forces with More Rewards and much more in our weekly credit card and loyalty rewards newscast! Watch This Week in RWRDS here: Listen to This Week in RWRDS here: Topics of discuss.... More »
Hilton Honors next systemwide promotion has been revealed – Double Points & Elite Nights + MORE Aug 25th
Loyalty Lobby broke the news just over a day ago that the details for Hilton Honor’s next systemwide promo had been revealed. There isn’t a registration landing page available yet but the FAQ page is what went out on the web which astute searchers have found. The new promotion called Doub.... More »
The Equal Credit Opportunity Act: Protecting yourself from credit discrimination + MORE Sep 22nd
An August 2017 discrimination settlement against American Express highlights why regulators and consumers need to be more wary..... More »
Budget winners and losers: Watch out for clawbacks
– moneysense.ca
It’s reasonably common knowledge that higher wealth accumulators in Canada will want to do some extra planning to avoid the 33% high income tax rate in the terminal return of the last surviving spouse. This is generally accomplished by averaging in their taxable pension amounts throughout retirement, if possible.
However, a sharp eye on marginal tax rates is important in this activity, because clawbacks of the Age Amount and Old Age Security can make income averaging opportunities challenging.
In fact, when you ask the question, who pays the highest marginal tax rates in Canada, you might be surprised to know it’s not always those whose income exceeds $200,000. The answer depends on the type of income sources and also depends on whether the taxpayer is subject to a clawback of social benefits and credits.
Let’s see how clawbacks affect seniors and investors in 2016 under various scenarios.
In the first, seniors are subject to clawbacks of the age amount, the GST/HST Credit and the Old Age Security at various income levels…
Banks reject more card applications
– creditcards.com
Lenders stamped ‘reject’ on more credit card applications in the New York Fed’s latest survey, reversing course
Women edging men in the battle of the credit smarts
– creditcards.com
A new study found that despite the fact that women have more credit cards open then men, they rack up less debt
