The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
Latest News
Canada's main stock index sustains largest loss in more than a month + MORE Sep 29th
Canada's main stock index sustained its largest loss in more than a month while the loonie regained lost ground after the Canadian economy grew slightly faster than economists had expected in July..... More »
10 ways women can grow their wealth + MORE Mar 8th
Women can often have a tougher time than men when it comes to money. That’s not because women are bigger spenders than men or that they simply aren’t interested in building wealth and investing. The truth is, there are real structural roadblocks to attaining financial freedom for women compared.... More »
Making sense of the markets this week: May 31, 2021 May 29th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Canadian banks attract investors—and criticism
The Canadian banks have started reporting first quarter earnings, and they’re off to a roaring start.
At the same time, th.... More »
Here’s how you can clean up your financial house by decluttering your life Sep 27th
If you’re looking for renewed energy for the later portion of the year, writes personal finance columnist Lesley-Anne Scorgie, get rid of distractions in your life so you can keep your eye on the financial ball.... More »
The best GIC rates in Canada for 2025 May 12th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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How can my stock losses be used to lower taxes?
– moneysense.ca
Q. I just received a report from my brokerage noting the value of one of my investments was cut in half. Can this loss report be used to lower taxes and how does that work? I understand there is also a specific form used for Canada Revenue, but I’m not sure which ones I need. Thanks, Leslie
A. The loss on stocks (and any other capital asset) is a capital loss. Capital losses may be used to reduce capital gains in the year of sale, any of the immediate three years, or any future year. Capital losses cannot decrease your income from any other source, except in the year that you die.
So, if you experience a capital loss in the current tax year, first you use the loss to reduce any capital gains reported in the year. The reporting is done on Schedule 3 of your tax return.
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Then, you may carry unabsorbed losses back to any of the previous three years to reduce capital gains reported in those years. Use form T1A Loss Carry Back to do so.
If the prior year gains are not sufficient to absorb the loss, any left-over amount can be carried forward indefinitely and applied to any capital gain reported in those years…
