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Should you use the RRSP Home Buyers’ Plan on a mixed-use property? + MORE Jul 18th
Ask MoneySense
I have a question regarding the RRSP Home Buyers’ Plan. I am a first-time home buyer. I need to use my RRSP, but the property I want to buy is a mixed-use property. We pay two kinds of taxes for this property: residential and commercial. I want to use the residential part of the pro.... More »
First Republic stock craters 49% after the bank reveals customers pulled out $100 billion of deposits last quarter - Yahoo Canada Finance Apr 25th
First Republic stock craters 49% after the bank reveals customers pulled out $100 billion of deposits last quarter Yahoo Canada FinanceFirst Republic Bank faces tough options after deposit flight jolts investors The Globe and MailForexlive Americas FX news wrap: Banking woes sp.... More »
How to Make Your Business Inflation-Proof + MORE Oct 17th
Pivoting through the economic challenges brought on by the pandemic, businesses have shown a great deal of creativity and resilience over the last two years. As Canada’s road to recovery continues, entrepreneurs and larger businesses alike must now confront the latest challenge—inflation.
In .... More »
Manitoba government to hand out cheques to help with rising food, fuel costs - CBC.ca + MORE Jan 26th
Manitoba government to hand out cheques to help with rising food, fuel costs CBC.caManitoba premier announces second round of inflation cheques Global NewsManitoba premier to announce new round of cheques to combat rising cost of living CBC.caSecond round of Manitoba.... More »
Making sense of the markets this week: November 13, 2022 Nov 11th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Cooling inflation leads to red-hot day for the markets
Part of being neighbours with the most powerful country in the world is that.... More »
Separation and divorce: How do we split up our investments?
– moneysense.ca
The end of a relationship will no doubt result in many financial changes, and some of those changes have a tax impact as well. This article ignores tax deductions, credits and benefits, as well as spousal and child support, and simply focuses on the division of assets for common law and married spouses. (Here’s a big-picture look at what you need to report to the CRA after a split.)
Capital assets, such as non-registered investments, rental real estate or a cottage, can generally be transferred on a tax-deferred basis between spouses. That means by default when one spouse transfers a capital asset to another spouse, there are no immediate tax implications.
Normally, when assets are transferred between spouses, a capital gain resulting from a subsequent sale would be attributed back to the original spouse on sale. This is called spousal attribution. Attribution does not apply if the asset was transferred as a result of a separation or divorce, whether you are common-law or legally married…
Capital assets, such as non-registered investments, rental real estate or a cottage, can generally be transferred on a tax-deferred basis between spouses. That means by default when one spouse transfers a capital asset to another spouse, there are no immediate tax implications.
Normally, when assets are transferred between spouses, a capital gain resulting from a subsequent sale would be attributed back to the original spouse on sale. This is called spousal attribution. Attribution does not apply if the asset was transferred as a result of a separation or divorce, whether you are common-law or legally married…
Kevin Durant breaks down Jimmy Butler's 40-point triple-double from the NBA Finals | Detail on ESPN+ – ESPN
– news.google.ca
Kevin Durant breaks down Jimmy Butler’s 40-point triple-double from the NBA Finals | Detail on ESPN+ ESPNNBA Finals 2020: Taking stock of the Finals MVP race between LeBron James, Anthony Davis and Jimmy Butler. NBA CALakers to wear Mamba jerseys in Game 5 with chance to win another title Sportsnet.caLakers to wear Bryant-designed jerseys for potential title clincher Montreal GazetteNBA Finals 2020: Who is the front-runner for Finals MVP entering Game 5? NBA CAView Full coverage on Google News
