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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Retirement planning at every life stage Jan 9th
Preparing for retirement can be intimidating. You’re facing great uncertainties about how your financial future will unfold, with a lot at stake. Fortunately, a comfortable and sustainable retirement should be within your reach if you prepare for it properly.
You’ll find that a little plannin.... More »
Russia-Ukraine live updates: NATO chief tells Russia it cannot win nuclear war - The Globe and Mail Mar 23rd
Russia-Ukraine live updates: NATO chief tells Russia it cannot win nuclear war The Globe and MailNATO calls on China to condemn Russia's war in Ukraine Reuters.comCan China broker an end to Russia's war in Ukraine? The GuardianChina and Russia's military relationship.... More »
In the #MeToo era, ethics training gains urgency Mar 22nd
Leadership and morality have been part of business education for decades but the relevancy has increased in wake of financial, harassment and ‘bro culture’ scandals
.... More »
GST holiday break: Is it good for Canada’s economy? + MORE Nov 22nd
The federal government’s “meaty” move to pause federal sales tax on a long list of items and send cheques to millions of Canadians this spring could factor into an improving outlook for growth in 2025, economists say. The plan, which will cost about $6.3 billion, could put some upward pressur.... More »
Why Hollywood Celebrities Are Petitioning Against a Canadian Bank Mar 22nd
Royal Bank of Canada’s financial support for the Coastal GasLink pipeline is generating some star-studded opposition.
More than 65 celebrities, including award-winning actors, directors and musicians, have joined Indigenous climate activists in signing a petition calling on RBC and its subsidia.... More »
Why can’t I deduct mortgage interest?
– moneysense.ca
Q: Why is the mortgage interest on a home or condo not deductible when it’s our principal residence?— Brendan A., St. Albert, Alta.
Answer from Steve Garganis, mortgage broker and editor of CanadaMortgageNews.ca:
In the United States, homeowners can deduct the mortgage interest from their personal income as a tax deductible expense. Sounds great, but keep in mind they also have to pay capital gains tax on any profit they made if the home increased in value. For instance, if they bought for US$200,000 and sold for US$500,000, that U.S. citizen would have to pay capital gains tax on the US$300,000 profit. That could be quite a tax bill.
In Canada, we have the benefit of being able to sell our principal residence and keep all the profit, tax free. On the flipside, we aren’t able to claim the mortgage interest as a tax deductible expense. But this only applies to your principal residence.
On an investment property, you are allowed to claim the mortgage interest as a tax deductible expense…
Pay down your mortgage faster to save in interest
– moneysense.ca
OTTAWA – When shopping for a mortgage, most Canadians focus on the interest and how much they can save with a lower rate.
But paying a few extra dollars every two weeks instead of the usual monthly payment or making an extra lump sum payment once a year can also save borrowers thousands in interest and shorten the time it takes to pay off a mortgage by years.
How mortgage payments work »
Wade Stayzer of Meridian Credit Union says homeowners need to understand of how much they can afford to pay and work from there.
“You really need to understand your personal financial situation and what it is you’re trying to accomplish,” said Stayzer, Meridian’s vice-president of sales and service.
The rules governing how much borrowers can increase payments or put down in a lump sum vary depending on the mortgage contract, so it’s important to read the fine print.
For those looking to pay off a mortgage faster and can afford it, Stayzer recommends increasing regular payments over saving up and making an annual lump sum payment…
But paying a few extra dollars every two weeks instead of the usual monthly payment or making an extra lump sum payment once a year can also save borrowers thousands in interest and shorten the time it takes to pay off a mortgage by years.
How mortgage payments work »
Wade Stayzer of Meridian Credit Union says homeowners need to understand of how much they can afford to pay and work from there.
“You really need to understand your personal financial situation and what it is you’re trying to accomplish,” said Stayzer, Meridian’s vice-president of sales and service.
The rules governing how much borrowers can increase payments or put down in a lump sum vary depending on the mortgage contract, so it’s important to read the fine print.
For those looking to pay off a mortgage faster and can afford it, Stayzer recommends increasing regular payments over saving up and making an annual lump sum payment…
Initial public offerings scheduled to debut next week
– canadianbusiness.com
NEW YORK, N.Y. – The following is a list of initial public offerings planned for the coming week. Sources include IPO ETF manager Renaissance Capital, and SEC filings.
Week of June 27:
Global Medical REIT – Bethesda, MD, 9.1 million shares priced at $10-12, managed by Wunderlich Securities/Oppenheimer & Co. Proposed NYSE symbol GMRE. Business: Healthcare REIT with a portfolio of 12 facilities.
Syros Pharmaceuticals – Cambridge, MA, 4 million shares priced at $14-16, managed by Cowen & Company/Piper Jaffray. Proposed Nasdaq symbol SYRS. Business: Developing gene expression therapies based on non-coding DNA research.
Long island iced Tea Corp – Hicksville, NY, 1.5 million shares priced at $6.50, managed by Network 1 Financisl Securities/Axiom Capital Management. Proposed Nasdaq symbol LTEA. Business:Producer and distributor of non-alcoholic ready to drink iced tea.
The post Initial public offerings scheduled to debut next week appeared first on Canadian Business – Your Source For Business News.
Week of June 27:
Global Medical REIT – Bethesda, MD, 9.1 million shares priced at $10-12, managed by Wunderlich Securities/Oppenheimer & Co. Proposed NYSE symbol GMRE. Business: Healthcare REIT with a portfolio of 12 facilities.
Syros Pharmaceuticals – Cambridge, MA, 4 million shares priced at $14-16, managed by Cowen & Company/Piper Jaffray. Proposed Nasdaq symbol SYRS. Business: Developing gene expression therapies based on non-coding DNA research.
Long island iced Tea Corp – Hicksville, NY, 1.5 million shares priced at $6.50, managed by Network 1 Financisl Securities/Axiom Capital Management. Proposed Nasdaq symbol LTEA. Business:Producer and distributor of non-alcoholic ready to drink iced tea.
The post Initial public offerings scheduled to debut next week appeared first on Canadian Business – Your Source For Business News.
CTV NewsHere's a look at what the vote means for the world economy.CTV NewsFRANKFURT — Britain's vote to leave the European Union adds a heavy dose of uncertainty to a world economy that is still struggling to reach full speed years after the global financial crisis. The most immediate pain will be felt in Britain. But …So how exactly does Britain break up with the EU, anyway?Macleans.caMarkets reel as world absorbs shock of UK vote for BrexitTheChronicleHerald.caGet out quickly, EU urges UK after vote triggers crisisToronto StarThe Globe and Mail (subscription) -National Post -CNN -Globalnews.caall 9,548 news articles »
A sea of red washed over global financial markets on Friday in reaction to Britons’ shocking vote to Brexit the European Union, with the British pound down to its lowest point since 1985 and the Canadian dollar lost more than a cent against the U.S. dollar.
