How to go about securing the best return for your investment in Canada.
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A second wave of COVID-19 could pummel the markets — here’s how to protect your portfolio Aug 4th
Now that stock prices have rebounded close to where they were before the crash, it’s a good time to make sure your finances are resilient..... More »
Senior cardinal convicted of embezzlement in historic Vatican fraud trial - Al Jazeera English Dec 16th
Senior cardinal convicted of embezzlement in historic Vatican fraud trial Al Jazeera EnglishVatican’s ‘trial of the century’ sees cardinal given five-and-a-half-year jail sentence CNNSenior cardinal found guilty of embezzlement in Vatican corruption trial CBC.c.... More »
Tax Implications of Receiving a Cash Gift in Canada Jan 9th
When it comes to financial transactions with loved ones, many people consider giving or receiving cash gifts. This can be especially common when the gift-giver and recipient are located in different countries. In this article, we will focus on the specific topic of cash gifts from overseas to Canada.... More »
When and how should I start drawing on my retirement savings? Apr 1st
Ask MoneySense
Do you have any tips for withdrawing from an RRSP?
Some background: My spouse and I are debt-free and mortgage-free. We own our home (current value approximately $1 million). We are hesitant to downsize as this home is accessible for me.
I have approximately $650,000 in RRSPs .... More »
Wall Street girds for market impact of looming Trump tariffs - CP24 Feb 2nd
Wall Street girds for market impact of looming Trump tariffs CP24‘Brace for impact’: Economists and market strategists react to trade war as loonie and stock futures slide The Globe and MailTrump Trade War; How Will Futures React? Investor's Business DailyAsia-Pa.... More »
CPPIB grows presence in Hong Kong logistics real estate with Goodman partnership
– theglobeandmail.com
CPPIB wants to increase its exposure to the growing logistics sector
Avoiding Canadian tax on U.S. property
– moneysense.ca
Q: I am separating (than divorcing) from my husband and we are splitting the houses we own—one in Canada and one in Phoenix. Can I use the Phoenix home as my principal residence? I have owned it since 2008. He will get the Canadian house in the divorce.
— Sonja
A: Hi Sonja, I am sorry that you and your ex are in the process of dividing up your marital assets. This time can be both stressful and liberating.
When designating a residence as your primary home, the Canada Revenue Agency requires that you ordinarily inhabited the property. There are no time-limits or prerequisites for how long you must own or live in the property or what “ordinarily inhabited” looks like. This means that you can designate a house in Phoenix, Arizona as your principal residence—which would exempt you from having to pay capital gains tax, when you sell the property, to the CRA.
But here’s where things get tricky. There is an issue of whether or not you are a U.S. citizen or a Canadian citizen. If you are a U…
