Costco shoppers to pay an extra $5 or $10 fee for membership starting in June + MORE Mar 3rd

Canadian securities regulators have started a task force to raise awareness and protect Canadians from the latest investment scam — trading in binary options that can cost investors everything.

Q:  I want to know how to avoid paying tax on a land sale. In 2000, I bought 100 acre parcel of bush land for $30,000. At the time I didn’t own a home; I was renting. In 2003 I bought my first home and then sold it in 2008. I have not owned a home since 2008; renting the entire time. Now, I’m considering selling the land so that I can buy a house. If the land is worth $150,000 today, how would I calculate capital gains tax owed?
— Farah, Vaughan, Ont. 

Ayana Forward is a Certified Financial Planner with Ryan Lamontagne Inc. in Ottawa: 
Unfortunately, if there was no housing unit on the land, the principal residence exemption cannot be used.
Your capital gain is the selling price ($150,000) less the adjusted cost base ($30,000). Your capital gain would therefore be $120,000, of which 50% is taxable.

Ayana Forward is a real estate investor who also holds the Certified Financial Planner (CFP®) designation. Ayana is fee-based Financial Planner with Ryan Lamontagne Inc in Ottawa, ON…

Costco will charge shoppers in Canada and the U.S. an extra $5 or $10 for an annual membership after the big box retailer posted financial results that disappointed Wall Street.

Q: I have been legally separated since 1999. The children are aged 27, 31, 33 so no custody or child support issues. All common assets were divided in 1999. We have lived completely separate lives with no money exchanging since child support ended. What is the simplest way to file for divorce? I have no marriage plans but I just want this finished.
— Lynne in Ontario

A: As the saying goes, be careful what you wish for. I have had many clients enter my office and say, “I am so excited. I just quickly filed for divorce and it came through on my birthday.”  Unfortunately, the questions they were too much in a rush to ask prior to filing the paperwork for divorce may have caused them negative financial consequences in Ontario.
In Ontario, there are no legal grounds required to file for a divorce.  And a divorce can be granted one year from the declared date of separation.
Still, there are a few things that you should understand from a financial point of view, prior to filing for a divorce…

Plus, RBC warns on household debt, global stock markets sag, loonie sinks