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What are the fees for becoming a joint tenant on a parent’s property? + MORE Mar 26th
My dad owns a house and a condo. The condo is his primary residence and he rents out his home. The home has greater value. He wants to put me on as a joint tenant. What fees will have to be paid when he does that, or are fees paid upon his death?—Judson
Fees associated with joint tenancy
Tha.... More »
Hudson’s Bay to liquidate entire business, still seeking additional capital - Toronto Star Mar 15th
Hudson’s Bay to liquidate entire business, still seeking additional capital Toronto StarHudson’s Bay to start liquidating stores as early as next week CityNews TorontoHudson's Bay Company nearly $1B in debt, with court filings painting dire financial portrait CBC.... More »
Why everyone feels like they’re in the middle class + MORE Jun 17th
Aerial view over the Montreal suburb and middle class homes. (FOTOimage/Getty Images)
Most Canadians think of themselves as middle class. In fact, the term is so elastic that politicians know they have just about everybody’s ear when they talk about “middle class” goals and aspirations. W.... More »
Capital gains on subdivided land, and HST on vacant land Mar 10th
Our primary residence of three years is built on a double lot. We received a partial discharge of our double lot and built our house on it for cash. Do we have to pay any capital gains? We did not plan on doing this when we first purchased it.
–Devon
Is there GST on land sales?
First, when you sel.... More »
TSX hits another high as pot stocks fall after U.S. Attorney General report + MORE Jan 4th
TORONTO _ It was another record close for Canada’s main stock index despite a sharp drop in the health-care sector which includes some of the country’s biggest marijuana companies.
The S&P/TSX composite index was up 41.39 of a point to 16,412.94, gaining ground throughout the day aft.... More »
An investment strategy for a six-figure inheritance
– moneysense.ca
The Problem
David, 31, is an engineer and lives in Toronto with his wife Alex and two-year-old son Leo. Both his father and grandfather were investors and he sees the six-figure estate that he inherited in January as a legacy that he really wants to continue. “My grandfather was a famous mining engineer in Canada and he worked worldwide during the 1930s, 40s and 50s building up a respectable mining business. He passed away in 1979 and my father managed the portfolio my grandfather left him for several years on his own.”
But in his the last couple of years his father’s ill health meant David had to take on more and more of the responsibility for managing his dad’s investments and he learned a lot. “I now realize that through active management we underperformed,” says David. “We would have done better with a passive strategy.” Apart from modest investments in RRSPs and TFSAs, David also owns a home in Toronto with a small mortgage left on it where he plans to live and grow his family…
