2022 Income Tax Guide for Canadians: Deadlines, tax tips and more + MORE Jan 9th

TSX getting you down? There are always sound investment alternatives.

Latest News

Buying ETFs in Canada Tool: The MoneySense ETF Screener + MORE Oct 6th

If you’re researching ETFs to buy, you’ve come to the right place. Below you will see the tables for different ETF categories, offering ETF options from some of the best ETF providers in Canada. We’ve included some helpful ETF asset class, geography, provider, tickers, as well as one-year retu.... More »

Ontario appoints supervisor to run Conestoga College after audit exposing ‘serious mismanagement’ - Toronto Star May 7th

Ontario appoints supervisor to run Conestoga College after audit exposing ‘serious mismanagement’ Toronto StarOntario appoints administrator to run Conestoga College, citing financial mismanagement The Globe and MailLILLEY: Conestoga board approved John Tibbits’ $3M payou.... More »

Scared of selling? When holding on to stocks can hurt you financially + MORE Oct 8th

When you invest, you buy and sell assets. Sometimes, the selling part—or not selling—can lead to problems. Here are few cases of seller’s hesitancy that can harm your financial situation. Holding until a stock recovers Investors sometimes want to break even on a trade. This may cause the.... More »

School software hack hits school boards across six Canadian provinces - CTV News + MORE Jan 13th

School software hack hits school boards across six Canadian provinces CTV NewsCybersecurity breach of Nova Scotia school system could have financial impact Global News TorontoPowerSchool paid hackers a fee to delete stolen data: Manitoba school board memo CBC.caSask..... More »

Walmart warns it will raise prices because of tariffs - CNN May 15th

Walmart warns it will raise prices because of tariffs CNNWalmart will report earnings before the bell. Here's what to expect CNBCWalmart warns a tariff hit on prices is coming in ominous sign for U.S. economy Financial PostWalmart says it will raise U.S. prices due t.... More »

2022 Income Tax Guide for Canadians: Deadlines, tax tips and more

– moneysense.ca

It’s been quite a year for numbers, hasn’t it? From rising interest rates to steep stock market drops, finances have been headline news throughout 2022. It’s almost enough to make you forget about tax season. But with the tax deadline approaching, you have a few reminders (see the dates below), as well as this, our MoneySense 2022 Income Tax Guide for Canadians.

You’ll find lots of good info to help you prepare. Here’s a table of contents for the guide’s topics, plus in-depth coverage for many of them.

2022 Income Tax Guide Table of Contents
Tax-related dates to know

Tax claims for Canadians and changes for 2022 income taxes

Prepping your taxes

RRSP contribution room

TFSA contribution room

Tax tips for Canadians

How to get started on your tax return

Maximizing Your Education Savings in 2023: The Advantages and Disadvantages of Group RESPs

– canadiancapitalist.com

A Group Registered Education Savings Plan (Group RESP) is a popular way for parents and guardians in Canada to save for their children’s post-secondary education. But like any financial decision, it’s important to understand the pros and cons before deciding if a Group RESP is right for you.
Group RESP Pros:

Group RESPs offer a number of tax advantages. Contributions to a Group RESP are not tax-deductible, but the growth on the investment is tax-free as long as it is used for education expenses. This can be a significant benefit, as the cost of tuition and other education-related expenses can add up quickly.
Group RESPs often have lower fees than individual RESPs. Because the investment is spread out among a group of people, the administrative costs are often lower, which means more of the money you contribute goes towards the education fund.
Group RESPs offer flexibility in terms of contributions. With an individual RESP, you are required to contribute a set amount on a regular basis…

Continue Reading On canadiancapitalist.com »

Stay tuned for more Investment wisdom brought to you by banks.ca!

Share