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.
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THE CANADIAN PRESS/Justin Tang
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40 days – 2.75%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 0000-00-00. Click on the link above to get more details or apply online.
How Taxes Can Affect ETF Performance
– CanadianCouchPotato.com
In our recent white paper, After-Tax Returns, Justin Bender and I introduced a methodology for measuring the effect of income taxes on ETF returns. Justin also created a downloadable spreadsheet you can use to estimate the after-tax returns of funds in your own portfolio.As we explain in the paper, funds with similar pre-tax returns can look quite different when you compare their performance after the CRA has taken its cut. Remember that on a pre-tax basis investment gains are reported in the same way whether they’re Canadian dividends, fully taxable income or capital gains. If you’re investing in a tax-sheltered account, it’s all the same. But in a non-registered account, distributions are taxed in different ways, and this can dramatically affect the amount of money you actually keep.
Here’s a real-world example that illustrates how large the difference can be. Justin collected the distribution and price data for the iShares Core S&P/TSX Capped Composite (XIC) and the DFA Canadian Core Equity Fund (DFA256) over the nine years ending in 2013…
5 rules to pay less tax
– moneysense.ca
Do you plan to be wealthy? Then it’s time to go to tax school. As your kids head back to the classroom to learn to read and write, you can learn basic taxation principles that will help you build wealth faster.There’s a reason why those who have more, care more about taxes. They know that what’s truly important is your “real net worth”—the net value of assets after taxes, inflation and accumulation costs such as interest on debt and professional fees. It’s all about what you keep and what it’s worth when you need it. Learn these five important tax principles, and you’ll have a more enlightened view of what wealth is, and how to build it faster.
1. Understand what income is. Make it your business to understand tax jargon. Start by learning the definitions of income: total income, net income, taxable income, earned income for RRSP purposes—they all have different meanings. The most important of these is “net income,” because that’s the figure used in many federal and provincial tax credit calculations…
5.5 year – 2.60%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-07-12. Click on the link above to get more details or apply online.
90 days – 2.00%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2014-10-06. Click on the link above to get more details or apply online.
