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Q & A: Your questions on managing your money in 2018 Jan 13th
The new year presents an opportunity for fresh financial start. CBC's Jacqueline Hansen hosted a recent Facebook Live with financial planner and author Shannon Lee Simmons about budgets, debt and enjoying your money..... More »
Broadcom offers to buy Qualcomm for $103 billion, in what would be the biggest tech deal ever - Financial Post + MORE Nov 6th
Financial PostBroadcom offers to buy Qualcomm for $103 billion, in what would be the biggest tech deal everFinancial PostCommunications chipmaker Broadcom Ltd on Monday said it offered to buy smartphone chip supplier Qualcomm Inc for US$70 per share or US$103 billion in cash and stock, in what would.... More »
The best high-interest savings accounts in Canada for 2023 Jun 14th
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The best high-interest savings accounts in Canada for 2023
Here are the accounts offering the highest interest rates and lowest fees.
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Changes to the MLS® Home Price Index - Toronto Real Estate Board Jun 1st
Changes to the MLS® Home Price Index Toronto Real Estate Board.... More »
Financial reality check: 5 money rules Gen Z should retire + MORE Dec 18th
A new poll revealed that a quarter of Canadians feel the financial advice they inherited from older generations no longer applies in 2025. For Gen Z, that number jumps to 34%. And for big-ticket purchases, the gap is even bigger: almost half of 18 to 34 year olds say traditional home-buying advice n.... More »
Can I set up RESPs for my kids without telling my ex?
– moneysense.ca
Q: I am divorced and my wife has custody of our kids. I want to set up an RESP for them but I don’t want my ex-wife to know about it. I’m worried she’ll find out if I use their actual address when I open it. Can I use my mine instead? —Kris
A: I don’t like secrets in principle. But, when it comes to RESPs, the Canada Revenue Agency doesn’t allow them in practice.
CRA spokesperson Lise Newton explains that, “if a beneficiary is under 19 years of age, the Income Tax Act does require an RESP promoter to notify, in writing, the parent/guardian with whom the beneficiary normally resides of the existence of the plan.” So while you can use your address, your ex-wife is going to be notified about it anyway.
Remember too that RESP contributions are “per child” so, to avoid penalties, you’ll need to be aware of any other plans that might exist for your children, set up by your ex-wife, her parents or her friends.
I’m sure you have your reasons for wanting to keep this information from your ex-wife—perhaps both financial and emotional…
Angus Reid cashes out of Vancouver software firm Vision Critical
– theglobeandmail.com
The pollster’s $44-million stock sale and exit from the board ends a tumultuous chapter for the Vancouver firm
