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Balancing personal and financial goals as you build a new life in Canada + MORE Nov 19th
Starting over in a new country can feel like being handed a blank canvas and a long to-do list. There’s the excitement of exploring your new surroundings, trying new foods, and building a life from scratch. But alongside that is the very real pressure of needing to get your finances in order.
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How much you need to earn to afford a home in Vancouver and the GVA + MORE Jan 28th
The Canadian real estate market has been red-hot since the pandemic started in March 2020. Home prices have risen across the board, but they are especially high in Vancouver, Canada’s most expensive housing market.
If you’re looking to purchase a home in the Greater Vancouver Area (GVA), you .... More »
Canada prepared for possible Chinese cyber retaliation over arrest of top Huawei executive - The Globe and Mail Dec 6th
Canada prepared for possible Chinese cyber retaliation over arrest of top Huawei executive The Globe and MailCFO of Chinese tech giant Huawei arrested in Vancouver, sought by U.S. for extradition CBC NewsWorld stock markets tumble following arrest of Huawei executive in Canada&.... More »
Intel warns US stake could hurt international sales, future grants - Reuters + MORE Aug 25th
Intel warns US stake could hurt international sales, future grants ReutersU.S. government takes 10% stake in Intel, as Trump expands control over private sector CNBCIntel and Trump Administration Reach Historic Agreement to Accelerate American Technology and Manufacturing Leade.... More »
The best GIC rates in Canada for 2024 + MORE May 28th
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The best GIC rates in Canada for 2024
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Find the best rate
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CRA vows action on Canadian tax evaders exposed in Paradise Papers
– canadianbusiness.com
OTTAWA _ The Canada Revenue Agency says it won’t hesitate to investigate new evidence of offshore tax evasion in the wake of a second massive leak of tax haven financial records.
The leak of some 13.4 million records, dubbed the Paradise Papers, lifts another veil on the often murky ways in which the wealthy _ including more than 3,000 Canadian individuals and entities _ stash their money in offshore accounts to avoid paying taxes.
Among the names that pop up in the records with some connection to offshore accounts are former Canadian prime ministers Brian Mulroney, Paul Martin and Jean Chretien, the Queen, U.S. commerce secretary Wilbur Ross, and the past and current chief fundraisers for the federal Liberal party.
Neither the CRA nor any court has determined the Canadians did anything wrong.
Offshore accounts are used by wealthy individuals and corporations around the world as a perfectly legal way to reduce their tax burden, although the anonymity provided to account holders has also led to associations with tax evasion, money laundering and organized crime…
The leak of some 13.4 million records, dubbed the Paradise Papers, lifts another veil on the often murky ways in which the wealthy _ including more than 3,000 Canadian individuals and entities _ stash their money in offshore accounts to avoid paying taxes.
Among the names that pop up in the records with some connection to offshore accounts are former Canadian prime ministers Brian Mulroney, Paul Martin and Jean Chretien, the Queen, U.S. commerce secretary Wilbur Ross, and the past and current chief fundraisers for the federal Liberal party.
Neither the CRA nor any court has determined the Canadians did anything wrong.
Offshore accounts are used by wealthy individuals and corporations around the world as a perfectly legal way to reduce their tax burden, although the anonymity provided to account holders has also led to associations with tax evasion, money laundering and organized crime…
Energy and mining push TSX to record finish, oil hits highest level since mid 2015
– canadianbusiness.com
TORONTO _ Energy and mining stocks propelled Canada’s main stock index to a record high today on the strength of spiking commodity prices.
The S&P/TSX composite index was up 72.04 points to 16,092.20 in a broad-based advance led by several major sectors.
Shares of oil and gas stocks surged more than 2.5 per cent as the December crude contract soared US$1.71 to US$57.35 per barrel. It’s the first time since mid-2015 that the price of oil has cracked the US$57 mark.
Meanwhile, the gold sector rose more than 1.6 per cent, with the December bullion contract up US$12.40 to US$1,281.60 an ounce.
In New York, it was another quiet but positive day as stock indices closed at all-time highs on Wall Street.
The Dow Jones industrial average was up 9.23 points to 23,548.42, the S&P 500 index eked out 3.29 points to 2,591.13 and the Nasdaq composite index advanced 22.00 points to 6,786.44.
The Canadian dollar was trading at an average price of 78.46 cents US, up 0.11 of a U.S. cent…
The S&P/TSX composite index was up 72.04 points to 16,092.20 in a broad-based advance led by several major sectors.
Shares of oil and gas stocks surged more than 2.5 per cent as the December crude contract soared US$1.71 to US$57.35 per barrel. It’s the first time since mid-2015 that the price of oil has cracked the US$57 mark.
Meanwhile, the gold sector rose more than 1.6 per cent, with the December bullion contract up US$12.40 to US$1,281.60 an ounce.
In New York, it was another quiet but positive day as stock indices closed at all-time highs on Wall Street.
The Dow Jones industrial average was up 9.23 points to 23,548.42, the S&P 500 index eked out 3.29 points to 2,591.13 and the Nasdaq composite index advanced 22.00 points to 6,786.44.
The Canadian dollar was trading at an average price of 78.46 cents US, up 0.11 of a U.S. cent…
Corporate Tax Reform Is the Key to Growth
– online.wsj.com
It could increase the U.S. capital stock by $5 trillion and cause a $500 billion rise in annual income.How last year’s All-Stars have performed
– moneysense.ca
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Overview
Canadian All-Stars
Top 200 Canadian Stocks
Past Performance
Top U.S. Stocks
One of the challenges of maintaining a concentrated portfolio is that it can be undermined by one bum stock. That was certainly top of mind earlier this year when Home Capital Group, one of our 14 All-Star stocks, suddenly sputtering…
Can I still claim the principal residence exemption?
– moneysense.ca
(Getty Images / Peter Dazeley)
Q: I have purchased a new home and have moved into it. I have finished part of the basement into a legal suite. I have not rented it out yet. My question is, if I rent the suite out will I be able to claim the primary residence tax exemption when I sell my home?
—Donna and Gerry
A: Congratulations Donna and Gerry on both your new home and becoming landlords! What exciting steps to take towards your personal financial goals.
Before we launch into an answer, it’s good to recap what taxation issues arise when it comes to property. In general, all Canadians must pay capital gains tax on real property when it is sold. The gain portion is the difference between the purchase price and your sale price (assuming it went up). This applies to all real property sold in Canada. However, for your principal residence, you can use the capital gains exemption to avoid having to pay the capital gains tax owed. It’s known as primary residence tax exemption (or PRE in finance-speak) and it’s one of the most powerful and advantageous tax-planning tools we have as Canadians…
