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Helping your kids buy a home? Why a cash gift may be safer than co-signing Sep 6th
It’s not uncommon for parents to want to help their adult children enter the housing market. For some, that help comes in the form of co-signing for their child’s mortgage, but experts warn that means taking on financial risks they might not understand and could impact their own debt and.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Mar 31st
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Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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Shares in two major cannabis companies halted on TSX + MORE May 3rd
Shares in two of Canada's three largest cannabis companies were halted on the Toronto Stock Exchange on Thursday..... More »
The first $100,000 is the hardest to save for newcomers Nov 26th
Immigration has become a contentious political issue in both the United States and Canada in recent years. A big reason is the perception that newcomers to these countries are competing for jobs and driving up the cost of housing. The re-election of Donald J. Trump is almost certain to make this an .... More »
Why BlackBerry (TSX:BB) Stock Just Soared 40% - The Motley Fool Canada + MORE Jan 26th
Why BlackBerry (TSX:BB) Stock Just Soared 40% The Motley Fool CanadaWhy BlackBerry's stock has been skyrocketing Yahoo Canada FinanceInvestor exuberance pushes BlackBerry share price to 9 year high — for no rational reason CBC.caBlackBerry Comments on Trading Activ.... More »
Robo adviser Wealthsimple launches savings account with premium rate
– canadianbusiness.com
TORONTO _ Robo-adviser Wealthsimple is hoping to lure clients away from traditional financial institutions by launching a savings account with a premium interest rate.
The Smart Savings account, launched in Canada and the U.S. on Thursday, will offer a 1.7 per cent interest rate north of the border. That’s higher than the average offering for similar accounts at Canada’s biggest financial institutions, said Wealthsimple’s chief executive Michael Katchen.
“In this space, this will always be premium to the Big Five banks,” he said in an interview.
It is the first non-investment product for the Toronto-based digital wealth management firm, marking a further step into the banking realm as Canadians increasingly do their financial transactions online.
Wealthsimple savings accounts were offered as a test to a small group of clients in January and were opened up to the rest of its customers in Canada and the U.S. on Thursday with a minimum deposit of $1.
It has partnered with EQ Bank, which is backed by federally regulated Equitable Bank, to offer the accounts in Canada…
The Smart Savings account, launched in Canada and the U.S. on Thursday, will offer a 1.7 per cent interest rate north of the border. That’s higher than the average offering for similar accounts at Canada’s biggest financial institutions, said Wealthsimple’s chief executive Michael Katchen.
“In this space, this will always be premium to the Big Five banks,” he said in an interview.
It is the first non-investment product for the Toronto-based digital wealth management firm, marking a further step into the banking realm as Canadians increasingly do their financial transactions online.
Wealthsimple savings accounts were offered as a test to a small group of clients in January and were opened up to the rest of its customers in Canada and the U.S. on Thursday with a minimum deposit of $1.
It has partnered with EQ Bank, which is backed by federally regulated Equitable Bank, to offer the accounts in Canada…
Cenovus Energy hires Husky Energy executive as its next chief financial officer
– canadianbusiness.com
CALGARY _ Cenovus Energy Inc. has hired Husky Energy Inc. executive Jonathan McKenzie as its next chief financial officer.
McKenzie had been Husky’s chief financial officer since 2015.
Previously, he worked at Irving Oil Ltd. as chief financial officer and chief commercial officer.
He will replace Ivor Ruste at Cenovus who is set to retire on April 30.
Husky says McKenzie has resigned from his position effective Thursday.
It says controller Jeff Hart has been appointed acting CFO.
The post Cenovus Energy hires Husky Energy executive as its next chief financial officer appeared first on Canadian Business – Your Source For Business News.
McKenzie had been Husky’s chief financial officer since 2015.
Previously, he worked at Irving Oil Ltd. as chief financial officer and chief commercial officer.
He will replace Ivor Ruste at Cenovus who is set to retire on April 30.
Husky says McKenzie has resigned from his position effective Thursday.
It says controller Jeff Hart has been appointed acting CFO.
The post Cenovus Energy hires Husky Energy executive as its next chief financial officer appeared first on Canadian Business – Your Source For Business News.
CanniMed CEO resigns, Aurora Cannabis SVP takes role in interim
– canadianbusiness.com
CanniMed Therapeutics CEO Brent Zettl has resigned, effective immediately, as Aurora Cannabis nears completion of its acquisition of the medical marijuana company.
Zettl, who co-founded CanniMed’s parent company Prairie Plant Systems Inc. in 1988, is pursuing other opportunities, the companies said in a statement.
He has agreed to remain available to CanniMed and Aurora as they integrate the two companies.
Aurora’s senior vice president of business integration Andre Jerome has been appointed as interim chief executive.
In January, Aurora struck a stock-and-cash deal valued at $1.1 billion to buy CanniMed.
The agreement ended a sometimes-terse takeover battle between the two marijuana companies.
The post CanniMed CEO resigns, Aurora Cannabis SVP takes role in interim appeared first on Canadian Business – Your Source For Business News.
Zettl, who co-founded CanniMed’s parent company Prairie Plant Systems Inc. in 1988, is pursuing other opportunities, the companies said in a statement.
He has agreed to remain available to CanniMed and Aurora as they integrate the two companies.
Aurora’s senior vice president of business integration Andre Jerome has been appointed as interim chief executive.
In January, Aurora struck a stock-and-cash deal valued at $1.1 billion to buy CanniMed.
The agreement ended a sometimes-terse takeover battle between the two marijuana companies.
The post CanniMed CEO resigns, Aurora Cannabis SVP takes role in interim appeared first on Canadian Business – Your Source For Business News.
Death and taxes: the question you need to ask that’s not on your return
– canadianbusiness.com
CALGARY _ As you sit down for the annual ritual of tax preparation, do you ever ask yourself whether someone else would be able to file them if you weren’t around?
While death may not always seem as inevitable as taxes, accountants say some preparation now makes life much easier for the people you leave behind.
“Advanced planning is key in a lot of areas when it comes to dealing with taxes, but it becomes really important in the case where someone dies,” said Bryan Hubbell, a senior tax manager at Manning Elliott LLP.
“Because in many cases the ability to plan affairs, that’s gone.”
The advanced work is important because the tax situation can be quite complicated. Along with a regular filing, all assets including vacation property, non-registered portfolios, and business assets are deemed to be sold at fair market value when someone dies, possibly triggering capital gains and surprising tax consequences.
“Death is a significant tax triggering event,” said Hubbell…
While death may not always seem as inevitable as taxes, accountants say some preparation now makes life much easier for the people you leave behind.
“Advanced planning is key in a lot of areas when it comes to dealing with taxes, but it becomes really important in the case where someone dies,” said Bryan Hubbell, a senior tax manager at Manning Elliott LLP.
“Because in many cases the ability to plan affairs, that’s gone.”
The advanced work is important because the tax situation can be quite complicated. Along with a regular filing, all assets including vacation property, non-registered portfolios, and business assets are deemed to be sold at fair market value when someone dies, possibly triggering capital gains and surprising tax consequences.
“Death is a significant tax triggering event,” said Hubbell…
Strength in the energy sector helped push Canada’s main stock index to triple-digit gains as worries about a trade war between China and the United States eased.
