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Selling a cottage to a family member: What that means for capital gains Jul 18th
AskMoneySense
I shared a cottage property with my brother. I sold my half to my half to my niece. Do I have to pay capital gains tax? If so, how do you calculate this? How do you determine the adjusted cost base? What expenses can be applied?
—Terry
What happens when you sell your cottage t.... More »
How the power of habit can help you retire before your parents do Dec 17th
Rob Berger achieved financial independence by age 49 by changing some of his core habits. He says you can do it too..... More »
China's threats over Huawei CFO's arrest rattle Canadian business Dec 11th
As China continues to threaten Canada with unnamed “consequences” if it doesn't release the chief financial officer of Chinese telecommunications giant Huawei, some in Canada’s business community are openly worried about what’s coming next..... More »
30 days - 1.50% + MORE Jan 30th
This GIC rate is offered by Oaken Financial and was updated on 2013-11-28. Click on the link above to get more details or apply online..... More »
How to have the most tax-efficient retirement income plan Mar 22nd
Ask MoneySense
I am 59 years old, semi-retired and live in Ontario. I have $302,000 in my non-registered investment account (mostly Canadian equities), $133,000 in my TFSA (in equities), and $287,000 in my RRSP (in equities). I have three non-registered GICs, in 1-, 2- and 3-year terms, all earning .... More »
5.5 year – 2.95%
– ratesupermarket.ca
This GIC rate is offered by Outlook Financial and was updated on 2013-09-16. Click on the link above to get more details or apply online.
In impoverished Zimbabwe, questions asked as to where money from vast diamond deposits went
– canadianbusiness.com
HARARE, Zimbabwe – Despite living in an impoverished country under sanctions, some in Zimbabwe seem awash in money, judging by the Mercedes-Benzes parked at a country club and the private woodland estate with artificial lake and mansion built by the nation’s police chief.
The wealth enjoyed by just a few comes, at least in part, from the vast Marange diamond field that was exposed by an earth tremor in 2006. The deposit in eastern Zimbabwe is the biggest diamond field found in Africa for a century, worth billions of dollars.
Now, as most Zimbabweans remain mired in poverty, with government coffers short on funds to build and maintain the nation’s roads, clinics, utility services and schools, questions are being asked as to where all the money went and who benefited.
A recent bipartisan parliamentary investigation concluded that tens of millions of dollars in diamond earnings are missing from 2012 alone. The lawmakers who wrote the unprecedented and unusually candid report said their “worst fears were confirmed” by evidence of “underhand dealings” and diamond smuggling since 2009…
The wealth enjoyed by just a few comes, at least in part, from the vast Marange diamond field that was exposed by an earth tremor in 2006. The deposit in eastern Zimbabwe is the biggest diamond field found in Africa for a century, worth billions of dollars.
Now, as most Zimbabweans remain mired in poverty, with government coffers short on funds to build and maintain the nation’s roads, clinics, utility services and schools, questions are being asked as to where all the money went and who benefited.
A recent bipartisan parliamentary investigation concluded that tens of millions of dollars in diamond earnings are missing from 2012 alone. The lawmakers who wrote the unprecedented and unusually candid report said their “worst fears were confirmed” by evidence of “underhand dealings” and diamond smuggling since 2009…
Dissecting what the Throne Speech said about energy: Andrew Leach
– canadianbusiness.com
There were some interesting nuggets in yesterday’s Speech from the Throne.
We heard that, “directly and indirectly, the natural resource sector employs 1.8 million Canadians, many in skilled, high-paying jobs.” That’s a big number — more than 10% of the Canadian labour force. In September 2013, Statistics Canada estimated that 382,000 Canadians were employed in the forestry, fishing, mining, oil and gas sectors. The other 1.5 million people are, presumably, employed in support sectors including finance, hotel and food, construction, and utilities. However, in terms of direct employment, our natural resource sectors account for 2.1% of total employment. There is no question that some of these are high-paying jobs—the average hourly wage paid to salaried employees across the economy was $32.92 per hour in July 2013; mining, quarrying and oil and gas saw wage levels of $49.93 per hour. Still, the average hourly earnings in forestry and logging was lower than average, at $25…
We heard that, “directly and indirectly, the natural resource sector employs 1.8 million Canadians, many in skilled, high-paying jobs.” That’s a big number — more than 10% of the Canadian labour force. In September 2013, Statistics Canada estimated that 382,000 Canadians were employed in the forestry, fishing, mining, oil and gas sectors. The other 1.5 million people are, presumably, employed in support sectors including finance, hotel and food, construction, and utilities. However, in terms of direct employment, our natural resource sectors account for 2.1% of total employment. There is no question that some of these are high-paying jobs—the average hourly wage paid to salaried employees across the economy was $32.92 per hour in July 2013; mining, quarrying and oil and gas saw wage levels of $49.93 per hour. Still, the average hourly earnings in forestry and logging was lower than average, at $25…
Goldman revenue down 20%, slashes costs
– theglobeandmail.com
Fifth-largest U.S. bank by assets reported a third-quarter profit of $1.43-billion
Union Pacific railroad delivers 3Q profit in line with reduced forecast it issued this month
– canadianbusiness.com
OMAHA, Neb. – Union Pacific says its third-quarter profit improved 10 per cent as higher shipping rates helped the railroad offset flat volume overall and last month’s flooding in Colorado that disrupted traffic.
The results released Thursday were roughly in line with the reduced forecast Union Pacific issued this month and Wall Street expectations.
The Omaha-based railroad reported net income of $1.15 billion, or $2.48 per share, in the quarter ended Sept. 30. That’s up from $1.04 billion, or $2.19 per share, a year ago.
Union Pacific Corp. 1ays its revenue grew 4 per cent to $5.6 billion.
Analysts expected earnings of $2.48 per share on revenue of $5.61 billion.
The railroad repurchased nearly 3.7 million shares for $575 million reducing the number of shares outstanding by 2 per cent.
The post Union Pacific railroad delivers 3Q profit in line with reduced forecast it issued this month appeared first on Canadian Business.
The results released Thursday were roughly in line with the reduced forecast Union Pacific issued this month and Wall Street expectations.
The Omaha-based railroad reported net income of $1.15 billion, or $2.48 per share, in the quarter ended Sept. 30. That’s up from $1.04 billion, or $2.19 per share, a year ago.
Union Pacific Corp. 1ays its revenue grew 4 per cent to $5.6 billion.
Analysts expected earnings of $2.48 per share on revenue of $5.61 billion.
The railroad repurchased nearly 3.7 million shares for $575 million reducing the number of shares outstanding by 2 per cent.
The post Union Pacific railroad delivers 3Q profit in line with reduced forecast it issued this month appeared first on Canadian Business.
