How to go about securing the best return for your investment in Canada.
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You opened an RESP—now what? Nov 23rd
As many Canadian parents and grandparents know, a registered education savings plan (RESP) is a powerful savings tool. Although you can create a college or university fund for your child in other ways, such as a bank account or a tax-free savings account (TFSA), they don’t offer the same valuable .... More »
Time to let the world know Canada is a financial giant + MORE Dec 11th
While the prominence of our financial sector continues to grow, it is noteworthy that it is also very often underestimated on the international stage
.... More »
The after-effect of market lows: a drop in fixed mortgage rates Aug 7th
When markets drop like they did on Monday, you may not immediately think of the impact on mortgage rates. We’ve been relying on the Bank of Canada to nudge rates lower, namely for variable mortgages. But fixed mortgages got a news headline-worthy update today, thanks to bonds, which are reacting t.... More »
Nvidia forecast shatters estimates as AI boom stays strong - BNN Bloomberg + MORE May 22nd
Nvidia forecast shatters estimates as AI boom stays strong BNN BloombergNvidia stock pops 4% after earnings beat forecasts, announcing stock split and dividend hike Yahoo Canada FinanceNVIDIA Announces Financial Results for First Quarter Fiscal 2025 NVIDIA BlogDow Jo.... More »
Extortions, staged collisions, drive-by shootings: Peel police announce 18 arrests in 'major' investigation into towing violence Jun 17th
Police seized $4.2 million in assets including 18 tow trucks, five stolen vehicles, six firearms, 586 rounds of ammunition and various weapons..... More »
With slipping iPhone sales, stakes are high for Apple CEO Tim Cook – The Globe and Mail
– news.google.ca
The Globe and MailWith slipping iPhone sales, stakes are high for Apple CEO Tim CookThe Globe and MailIt's a September tradition as predictable as heading back to school. But when Apple Inc. chief executive officer Tim Cook takes to the stage Wednesday, where he is expected to unveil the latest iPhone, the stakes will be as high as they've been in years.Apple to launch its new iPhone 7 this weekThe Australian Financial ReviewApple iPhone 7, iPhone 7 plus: All you can expect from the biggest smartphone launch of the yearEconomic TimesiPhone 7 to Feature 4K Video Recording at 60 FPS?iClarifiedMirror.co.uk -Firstpost -International Business Times UK -The Indian Expressall 517 news articles »
Vancouver becomes Canada’s first ‘city of millionaires,’ study finds
– theglobeandmail.com
Ontario vaults past Alberta in household wealth amid commodities crash
Education costs going up, start RESP early and maximize the government grants
– canadianbusiness.com
OTTAWA – Parents looking at the bills rolling in as students head off to university and college may be wishing they had saved more.
But if you’re not at that stage yet, financial advisers say, it’s important to start early and put aside as much as possible.
Jamie Golombek, managing director at CIBC Wealth Strategies Group, says parents’ biggest mistake is waiting too long before they start saving with a registered education savings plan, or RESP.
“You can’t catch up on the tax-deferred compounding. Depending on the rate of return, this can really be significant,” he said.
If you can afford it, Golombek advises putting $2,500 a year per child into an RESP to maximize federal government grants.
“If you can set aside that money in the year the child is born and start saving every single year to maximize the grants … that really is the best way to accumulate the most amount of money over the long term in an RESP,” he said.
Regardless of your family’s income, the basic grants are equal to 20 per cent of contributions, up to $500 per year for each child under age 18 and a lifetime limit of $7,200…
But if you’re not at that stage yet, financial advisers say, it’s important to start early and put aside as much as possible.
Jamie Golombek, managing director at CIBC Wealth Strategies Group, says parents’ biggest mistake is waiting too long before they start saving with a registered education savings plan, or RESP.
“You can’t catch up on the tax-deferred compounding. Depending on the rate of return, this can really be significant,” he said.
If you can afford it, Golombek advises putting $2,500 a year per child into an RESP to maximize federal government grants.
“If you can set aside that money in the year the child is born and start saving every single year to maximize the grants … that really is the best way to accumulate the most amount of money over the long term in an RESP,” he said.
Regardless of your family’s income, the basic grants are equal to 20 per cent of contributions, up to $500 per year for each child under age 18 and a lifetime limit of $7,200…
Low taxes at dozens of firms in spotlight after Apple ruling
– canadianbusiness.com
NEW YORK, N.Y. – It turns out some wealthy companies are just like some wealthy hedge fund managers: They’re taxed at far lower rates than nearly everyone else.
Whether or not Apple used illegal breaks to pay virtually no taxes in Europe over 11 years, as regulators there contend and the company denies, the order last week that it pay billions in back taxes highlights a worrisome divide among the world’s biggest corporations: Some pay relatively little taxes, others a lot.
Taxes paid in the U.S. and abroad by tech companies like Apple amounted to 24 per cent of their profits in the 10 years through 2014, according to a Credit Suisse report. Energy companies paid 41 per cent, nearly double.
Experts say a tax system that divides companies so starkly into winners and losers raises issues of fairness, along with questions about the wisdom of using tax codes to shape corporate behaviour. It may also pose a danger to investors: Are companies that have boosted earnings by shifting headquarters abroad and other manoeuvrs vulnerable to a tax-collector crackdown?
Just which ones are vulnerable is difficult to know because tax rules are so complicated, but there is a lot of money at stake…
Whether or not Apple used illegal breaks to pay virtually no taxes in Europe over 11 years, as regulators there contend and the company denies, the order last week that it pay billions in back taxes highlights a worrisome divide among the world’s biggest corporations: Some pay relatively little taxes, others a lot.
Taxes paid in the U.S. and abroad by tech companies like Apple amounted to 24 per cent of their profits in the 10 years through 2014, according to a Credit Suisse report. Energy companies paid 41 per cent, nearly double.
Experts say a tax system that divides companies so starkly into winners and losers raises issues of fairness, along with questions about the wisdom of using tax codes to shape corporate behaviour. It may also pose a danger to investors: Are companies that have boosted earnings by shifting headquarters abroad and other manoeuvrs vulnerable to a tax-collector crackdown?
Just which ones are vulnerable is difficult to know because tax rules are so complicated, but there is a lot of money at stake…
