Don’t get stuck on financial advice that doesn’t ring true Mar 26th
Reddit, birthplace of the meme stock, is going public. Here's what to expect - CBC News + MORE Mar 14th
Fixed mortgage rates are likely at their 'lowest point this year,' experts say Oct 29th
Wall St slips with inflation data on deck - Reuters Feb 28th
Why homeownership isn’t guaranteeing financial security for seniors Apr 1st
Ubisoft to triple its Winnipeg studio by 2030, help develop digital media sector in Manitoba – Global News
– news.google.ca
Capital gains when selling property to family
– moneysense.ca
—Johanna
Capital gains and transferring property between family
Asset sales between family members can be tricky to facilitate at a family level, let alone from a tax perspective. There are tax implications to be aware of here, Johanna.
First, a primer on how capital gains tax works. For real estate, it’s based on the sale price, minus the selling costs, capital improvements made to the property, and your adjusted cost base (ACB) or acquisition cost.
Also, it’s important to know that 50% of a capital gain is taxable and is added to your other sources of income for the tax year. A large capital gain—for example, on a piece of real estate—can easily push you into a higher tax bracket.
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What qualifies as a principal residence and other exemptions
There are nuances related to real estate like whether or not a property might qualify as a principal residence…
Making sense of the markets this week: March 20
– moneysense.ca
The Fed moves, just a scooch
On Wednesday of this week, Federal Reserve chairman Jerome Power made the move on rates. The Federal Open Market Committee raised U.S. overnight interest rates by 0.25% to 0.50%, its first rate hike since December 2018.
Source: S&P Global
Central bankers embarked on what may turn out to be a lengthy and difficult challenge to wrestle inflation to the ground. Earlier this month, the Bank of Canada also increased the overnight rate from 0.25% to 0.5%.
Financial analysts expect both central banks to raise borrowing costs several times this year and next. The Fed board is predicting six rate hikes in the U.S. in 2022. If each rate hike is 0.25% that would put the overnight rate at 2.25%. There is the possibility of a 0.5% rate hike thrown into the mix.
Here is the “everything you need to know” about rate hikes history…
