How to go about securing the best return for your investment in Canada.
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Making sense of the markets this week: October 13, 2024 + MORE Oct 11th
Michael McCullough is a contributing editor to MoneySense and a financial writer and editor in Duncan, B.C.
Canadian Natural Resources doubles down on Canada
For a decade now, big acquisitions by Canadian oil-and-gas producers have mostly been met with distaste by investors. So we’ll take it.... More »
Apple Expected to Unveil Next Generation of iPhones as Company Tries to Reverse Recent Sales Slump - Asharq Al-awsat - English Sep 12th
Apple Expected to Unveil Next Generation of iPhones as Company Tries to Reverse Recent Sales Slump Asharq Al-awsat - EnglishApple Exclusive Leaks All-New iPhone 15, iPhone 15 Pro Upgrades ForbesThe iPhone 15 Pro's New Action Button: What to Expect forums.macrumors.co.... More »
City hall is banking on Toronto’s real estate market picking up in 2026. What’s behind their optimism? + MORE Jan 11th
Budget prediction comes as last year's Toronto-area home sales hit a 25-year low..... More »
Tesla Stock Rises After Analyst Price Target Increase. So Much for the Bear Market. - Barron's Jan 3rd
Tesla Stock Rises After Analyst Price Target Increase. So Much for the Bear Market. Barron'sCanaccord boosts Tesla price target, calls 2025 'year of the robot' Yahoo FinanceTesla reports first-ever drop in annual deliveries CNBC2024 sees Tesla sales drop for first ti.... More »
Should you take extra RRIF withdrawals to increase your estate? + MORE Nov 26th
Ask MoneySense
I have a RRIF that is worth approximately $250,000 at the moment. My two children are the beneficiaries. Obviously, I am hoping to somehow reduce any tax on this RRIF income when I die. Is my taking more out of the RRIF and paying the tax each year the best way to do this? Do you have.... More »
How to invest your money in Canada as a U.S. citizen
– moneysense.ca
Q: I am both a Canadian and American. At this juncture, I will not give up my American citizenship since my family is down there and I am only 33. I have maxed my RRSP and I want to invest in ETFs in a non-registered account but I understand there are issues with U.S. tax liabilities.
There are over a million Americans in Canada. My question is simple: what platform can an American in Canada use to acquire indexes or ETFs with minimal tax liability and simplicity for IRS reporting?
–Megan
A: As you likely know, Megan, American citizens need to file U.S. tax returns every year on their worldwide income, regardless of where they live. That means one million U.S. citizens in Canada should be filing with the IRS. Not all of them do.
There is a bilateral agreement between Canada and the U.S. to avoid double taxation and because Canadian tax rates are generally higher than U.S. rates, many Canadian tax filers have no U.S. tax liability on their U.S. returns. That doesn’t mean you don’t need to file or worry about what you invest in here in Canada…
ICBC rates will be hiked 6.4% starting November
– moneysense.ca
VANCOUVER (NEWS 1130) – Attorney General David Eby has announced ICBC rates will be hiked 6.4 per cent, starting November 1st.
He says “drastic action” is needed to fix financial problems at the insurer.
For the average driver, that means an increase of about $60 a year.
Eby says BC drivers were “deceived” by losses under-reported by the previous BC Liberal government.
He says the 6.4 per cent hike is lower than the 20 per cent rate hike that was recommended by the report commissioned by the previous government and released in July 2017.
Former Premier Christy Clark promised to freeze rate hikes at five per cent and the NDP campaigned on a promise to freeze them up to two years.
The Province will also roll out 24-hour red-light cameras at high-collision intersections, which is up from the current six hours per day.
Eby has also announced a pilot program of new technologies to eliminate distracted driving among high-risk groups.
The NDP government says ICBC had its largest financial loss in the organization’s history last year, losing more than half-a-billion dollars in 12 months…
He says “drastic action” is needed to fix financial problems at the insurer.
For the average driver, that means an increase of about $60 a year.
Eby says BC drivers were “deceived” by losses under-reported by the previous BC Liberal government.
He says the 6.4 per cent hike is lower than the 20 per cent rate hike that was recommended by the report commissioned by the previous government and released in July 2017.
Former Premier Christy Clark promised to freeze rate hikes at five per cent and the NDP campaigned on a promise to freeze them up to two years.
The Province will also roll out 24-hour red-light cameras at high-collision intersections, which is up from the current six hours per day.
Eby has also announced a pilot program of new technologies to eliminate distracted driving among high-risk groups.
The NDP government says ICBC had its largest financial loss in the organization’s history last year, losing more than half-a-billion dollars in 12 months…
Cenovus Energy’s $975M Pelican Lake sale a ‘first step’ to reducing debt burden
– canadianbusiness.com
CALGARY — Investors and analysts offered measured praise Tuesday as Cenovus Energy (TSX:CVE) delivered the first of four key asset sales it has promised to help pay for its $17.7-billion purchase of most of the Canadian assets of ConocoPhillips.
The Calgary-based oilsands company announced it is selling its Pelican Lake heavy oil operations in northern Alberta for $975 million in cash to cross-town rival Canadian Natural Resources (TSX:CNQ). The deal is expected to close by the end of September.
Cenovus has been in the doghouse with investors since March 29 when it announced the acquisition of oilsands and conventional assets from Houston-based ConocoPhillips, along with a plan to raise $3 billion by issuing new shares and the marketing of its Pelican Lake and southern Alberta Suffield operations.
Its shares, which had fallen almost 43 per cent by last Friday, were up about three per cent Tuesday morning.
“This represents a significant first step in our strategy to optimize our asset portfolio and deleverage our balance sheet as planned following the acquisition of the ConocoPhillips assets,” said Cenovus CEO Brian Ferguson in a statement…
The Calgary-based oilsands company announced it is selling its Pelican Lake heavy oil operations in northern Alberta for $975 million in cash to cross-town rival Canadian Natural Resources (TSX:CNQ). The deal is expected to close by the end of September.
Cenovus has been in the doghouse with investors since March 29 when it announced the acquisition of oilsands and conventional assets from Houston-based ConocoPhillips, along with a plan to raise $3 billion by issuing new shares and the marketing of its Pelican Lake and southern Alberta Suffield operations.
Its shares, which had fallen almost 43 per cent by last Friday, were up about three per cent Tuesday morning.
“This represents a significant first step in our strategy to optimize our asset portfolio and deleverage our balance sheet as planned following the acquisition of the ConocoPhillips assets,” said Cenovus CEO Brian Ferguson in a statement…
Chairman of the Advisory Council Dominic Barton pats Minister of Finance Bill Morneau on the shoulder during a news conference in Ottawa, Thursday, October 20, 2016. (Adrian Wyld/CP)Dominic Barton is all about scale. When the global managing partner of McKinsey & Co. gives a talk, he’s prone to showing audiences photographs of Chinese city skylines mushrooming, over what seem to be impossibly short time spans, from roughly Moncton to beyond Manhattan. Barton, a Canadian whose deep experience in Asia lifted him to the pinnacle of McKinsey’s far-flung consulting empire, has a knack for conveying how if you’re not going big, you just don’t get the 21st-century economy.
So when he was named last year by Finance Minister Bill Morneau to chair the federal government’s blue-chip Advisory Council on Economic Growth, nobody who knew him was surprised that Barton set goals of scaled-up ambition. The problem, he warned, is that Canada’s workforce is rapidly aging, while its companies are stuck in a low productivity gear, putting the country on track to generate only half of the annual growth in the next few decades that Canadians have come to expect over the past 50 years…
