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Latest News
Bank fees: Everything you need to know before switching to a no-fee account Jul 29th
With the recent news that bank fees have increased during the pandemic and challenger banks like Neo Financial promising no fees on accounts, switching banks may be at the forefront of your mind. But having a good understanding of bank fees—what they are, how they’re determined and the kind of s.... More »
Making sense of the markets this week: April 2, 2023 Mar 31st
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Freeland fires again at Canadian Banks
There are several big-picture looks at the important aspects of the Canadian federal budget .... More »
N.B. wants to sell its stock of American alcohol removed in anti-Trump protest Oct 11th
FREDERICTON - The New Brunswick Liquor Corporation says it wants to sell the remaining $3.4 million worth of American alcohol removed from store shelves in protest of the policies of U.S. President Donald Trump..... More »
Five secular trends you can tap now for winning stocks Oct 20th
From cybersecurity to pet care, by paying close attention to longer-term trends you can create a stock portfolio that is almost certain to outperform the broad market over time, Gordon Pape writes..... More »
Stock news for investors: Barrick leads earnings gains as major Canadian companies report mixed Q3 results + MORE Nov 13th
Here’s a round-up of news for Canadian investors this week.
Barrick
MEG Energy
Loblaw
Manulife
Linamar
Brookfield
Hydro One
Featured RRSP Accounts
featured
EQ Bank
.... More »
Should you buy real estate through a corporation?
– moneysense.ca
One of the main tax benefits of Canadian real estate is the ability to claim an unlimited principal residence exemption on the property value appreciation. One exception may be if the land is more than half a hectare (1.24 acres), unless the minimum municipal lot size at the time you purchased the property was more than that or you can demonstrate the need for the larger lot size to use and enjoy your home.
Another exception is if a property is owned by a corporation. A corporation is a company that is incorporated and owned by the shareholders. It is a common framework in which to do business in Canada, and is a separate legal entity from the shareholders that files its own tax returns. Corporations can own real estate; however, unlike an individual, a corporation cannot claim a principal residence exemption. This can make it inefficient to use a corporation to own a home you could otherwise sell in the future tax-free
Using a corporation to buy an income property
Some people consider using a corporation to buy a rental property…
Another exception is if a property is owned by a corporation. A corporation is a company that is incorporated and owned by the shareholders. It is a common framework in which to do business in Canada, and is a separate legal entity from the shareholders that files its own tax returns. Corporations can own real estate; however, unlike an individual, a corporation cannot claim a principal residence exemption. This can make it inefficient to use a corporation to own a home you could otherwise sell in the future tax-free
Using a corporation to buy an income property
Some people consider using a corporation to buy a rental property…
