Most actively traded companies on the TSX + MORE May 3rd

Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (13,707.68, down 157.95 points):
Aberdeen International Inc. (TSX:AAB). Financial Services. Up two cents, or 11.43 per cent, to 19.5 cents on 14.5 million shares.
Kinross Gold Corp. (TSX:K). Miner. Down 19 cents, or 2.69 per cent, to $6.88 on 10.5 million shares.
First Quantum Minerals Ltd. (TSX:FM). Miner. Down 54 cents, or 5.08 per cent, to $10.10 on 9.5 million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Down 36 cents, or 5.74 per cent, to $5.91 on 9.3 million shares.
Teck Resources Ltd. (TSX:TCK.B). Miner. Down 85 cents, or 5.58 per cent, to $14.38 on nine million shares.
Encana Corp. (TSX:ECA). Oil and gas. Down 97 cents, or 10.43 per cent, to $8.33 on 8.8 million shares. Encana Corp. reported Tuesday a US$379-million net loss for the first quarter mainly due to writedowns and lower oil and gas prices as revenue fell 40 per cent compared with the same time last year. A year ago, the oil and gas producer had a US$1…

NEW YORK, N.Y. – A prominent art collector and real estate developer has agreed to pay $7 million to settle allegations he failed to pay taxes on about $80 million worth of art, the state attorney general said Tuesday.
The settlement with Aby Rosen followed an investigation that revealed he owed taxes on over 200 works of art, said Attorney General Eric Schneiderman. Rosen’s whose companies own several New York landmarks, including the Seagram Building that houses the soon-to-be-shuttered Four Seasons restaurant.
Schneiderman contends that from 2002 to 2015, Rosen used a company that he formed, 22nd Century Acquisitions, to purchase the art and a second company, Lever House Artwork, to commission new works. Rosen, the attorney general said, did not pay sales tax on the items because he claimed an exemption, saying the works were going to be resold. But Schneiderman alleges that Rosen kept the art for himself and displayed the works at his homes in New York and at restaurants and hotels that were affiliated with his companies…

With Bell and Telus slicing up MTS between them, it is up to these companies to make the case to consumers and regulators that this deal will benefit Canadians

(Izabela Habur/Getty Images)
Q: My husband and I are retired and turning 63 and 60 this year. We have combined RRSPs of $220,000 that are not needed to cover our regular expenses. Our pensions and rental income will put us slightly over the OAS clawback threshold when we are both 65. We want to minimize the tax hit on our RRSPs and so I have run various scenarios with the aid of the calculators.
First I calculated the tax as if we withdrew no RRSPs and transferred pension income to minimize overall tax. Then I added a whopping $57,000 in RRSP withdrawals so that we both would report income of just below $106,543 (2016 marginal tax rates). Then I calculated our tax without RRSPs when we are both 65 plus and then added just $10k each in RRSP income.
Should I plan to deplete our RRSPs and delay my husband’s OAS by one year to fully collapse our plans? My calculations suggest we could save over $12,000 in taxes this way.
 —Patricia
A: The Old Age Security (OAS) clawback can be painful for some seniors—especially those with Defined Benefit pension plans and high incomes…

Any successful portfolio needs a smart plan behind it. While most of us look at earnings and interest rates and a range of factors outside our control, one of the biggest factors when it comes to portfolio success is actually investor behaviour.
With our May 7 Invest for Success event coming up this week in downtown Toronto, we reached out to one of our panelists, Rona Birenbaum, a MoneySense Approved financial planner at Caring for Clients, for some advice.

MoneySense: Rona, what would you say are the biggest mistakes that investors make when it comes to their relationship with their investments?
Birenbaum: I’d say the biggest mistake investors make is avoiding the type of comprehensive financial planning exercise that would identify:

The rate of return they need to meet their goals. (Most investors unknowingly take on more risk than necessary); and
The areas over which they do have control and that can influence their long-term financial security

More tips:
Have Canadian stocks really become less risky? »
What kind of stock picker are you? »
The new rules of bond investing »

Want to learn more?
Hear Rona Birenbaum and others, including Kurt Reiman, chief investment strategist for BlackRock Canada and MoneySense columnist Dan Bortolotti share more investing tips on May 7 in Toronto…