TSX getting you down? There are always sound investment alternatives.
Latest News
Mark Carney tells U.S. investors Canada 'can help make America great again' May 28th
The prime minister urged New York investors and the American administration to see Canada as a trusted ally and safe haven for investment..... More »
“Get to know and minimize the investing fees you pay”: Michael McCullough, MoneySense contributing editor + MORE Oct 30th
Financial writer and editor Michael McCullough has made a career of helping Canadians understand a wide range of money topics, from real estate to alternative investments. In addition to being a MoneySense contributor and contributing editor, Michael writes for The Globe and Mail and BCBusiness, and.... More »
Is now the time for retirees to sell stocks and buy GICs? + MORE Aug 10th
Ask MoneySense
My husband is retired and concerned that his money that is invested in his RRSP and TFSA is fluctuating too much. He is retired and is wondering if his funds should be in a GIC account as it’s paying 4% and not losing principal. He’s concerned in this volatile market.—Rodeen
.... More »
Capital gains taxes explained Nov 11th
Capital gains can be an afterthought after selling your home, or any property, stocks or shares. But it sure comes up around tax time.
What are capital gains?
You have a capital gain when you have sold, what the Canada Revenue Agency deems “capital property” (including securities in the form of.... More »
Wealthsimple Trade in-depth review 2021: The pros and cons Mar 6th
Since making its debut in 2014, Canada’s Wealthsimple has helped to demystify investing for hundreds of thousands of regular people who want to grow their money. The company’s success thus far is unquestionable: As of late February 2021, its AUM (assets under management) have been valued at $8.4.... More »
Saudi Crown Prince calls Iran's Supreme Leader 'the new Hitler' – The Globe and Mail
– news.google.ca
The Globe and MailSaudi Crown Prince calls Iran's Supreme Leader 'the new Hitler'The Globe and MailSaudi Crown Prince Mohammed bin Salman attends the Future Investment Initiative conference in Riyadh, Saudi Arabia, on Oct. 24, 2017. Hamad I Mohammed/REUTERS. DUBAI. Reuters. 4 hours ago November 24, 2017. Saudi Arabia's powerful Crown …Saudi elite start handing over funds in corruption crackdownFinancial TimesSaudi Arabia's crown prince calls Iran's supreme leader 'new Hitler of the Middle East'Fox NewsSaudi Crown Prince Is Beating Trump, Putin And Taylor Swift In Time's Person Of The Year PollNewsweekBBC News -STRATFOR -The Independent -NEWS.com.auall 122 news articles »
How you’re taxed when selling a business to family
– moneysense.ca
Q: I want to sell our Dairy Queen (DQ) to my oldest daughter. The profit year after year is $56,000.00 to $76,000.00 but sales are about $1.5 million. We do not own the building—we lease it from a large company. We only own the equipment inside and the signage. I would like to sell the DQ to her at fair market value which it’s at right now so that the Canada Revenue Agency (CRA) will not come back later requesting more capital gains tax from me. I assess it to be worth between $340,000 to $360,000. The transfer to my daughter of DQ rights is free from DQ and the equipment is about $189,000. Will the CRA consider that or will there be problems?
—Larry
A: One of the first questions to be considered is whether you are selling shares that qualify for the Lifetime Capital Gains Exemption, or not. The sale of shares to a related party can invoke some very complicated rules, currently under review by the Finance Department. Specifically, Section 84.1 could deem the proceeds to be a dividend rather than a capital gain…
