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What does a fee-only financial planner do, exactly? Sep 16th
Q. How do you make money, Jason, if you don’t sell any products?
–Rob
A. Your question is a good one that I get a lot, Rob—even from people in the industry. So let me explain.
Something that I like to reinforce frequently is that I do not sell any financial products. I feel this is an import.... More »
How financial journalists plan their own retirement + MORE Aug 13th
It’s an occupational hazard of personal finance (PF) journalism that the writers’ lives are an open book. Anyone reading Retired Money knows my age and that I recently had to convert my RRSP into a RRIF. And I’m not alone: this summer has seen the retirement of some long-time PF columnists, no.... More »
Meet the Advisors Who Are Expanding Wealth and Enhancing Legacy Planning Jun 13th
Established families and business leaders trust the boutique wealth advisory firm to multiply wealth and maximize estate value. Leveraging innovative and sophisticated financial strategies, they’re creating monumental financial impact.
Movsessian and Kachani speak about establishing the f.... More »
How can my stock losses be used to lower taxes? Sep 17th
Q. I just received a report from my brokerage noting the value of one of my investments was cut in half. Can this loss report be used to lower taxes and how does that work? I understand there is also a specific form used for Canada Revenue, but I’m not sure which ones I need. Thanks, Lesli.... More »
Paramount Resources to buy Apache assets for $459-million
– theglobeandmail.com
Houston-based Apache Corp. is latest in growing number of foreign companies exiting Canada’s energy sector
Air Canada shares surge to 10 year high after airline’s bullish Q2 outlook
– canadianbusiness.com
Air Canada shares were at their highest in more than 10 years on Thursday after the country’s largest airline said analyst forecasts had significantly underestimated one of its earnings benchmarks.
Shares in the Montreal-based airline peaked at $19.06 in morning trading on the Toronto Stock Exchange rose. In later trading, they were up 7.38 per cent or $1.28 at $18.62.
The last time Air Canada shares (TSX:AC) were at these levels was in February 2007.
The shares surged after Air Canada said its EBITDAR (earnings before interest, taxes, depreciation, amortization, impairment and aircraft rent) will be better than $475 million average forecast by analysts for the three months ended June 30.
In last year’s second quarter, Air Canada posted a record $605 million in EBITDAR and $186 million of net income, which includes many items required under general accounting.
Chief executive Calin Rovinescu says the results for this year’s second quarter, to be announced Aug. 4, were driven by higher revenue and lower than projected fuel costs…
Shares in the Montreal-based airline peaked at $19.06 in morning trading on the Toronto Stock Exchange rose. In later trading, they were up 7.38 per cent or $1.28 at $18.62.
The last time Air Canada shares (TSX:AC) were at these levels was in February 2007.
The shares surged after Air Canada said its EBITDAR (earnings before interest, taxes, depreciation, amortization, impairment and aircraft rent) will be better than $475 million average forecast by analysts for the three months ended June 30.
In last year’s second quarter, Air Canada posted a record $605 million in EBITDAR and $186 million of net income, which includes many items required under general accounting.
Chief executive Calin Rovinescu says the results for this year’s second quarter, to be announced Aug. 4, were driven by higher revenue and lower than projected fuel costs…
Hot condo market drives 10 per cent rise in Montreal area home sales in June
– canadianbusiness.com
The Greater Montreal Real Estate Board says area home sales increased by 10 per cent in June, driven by a hot condo market.
There were 3,952 properties sold last month, the highest level for June in eight years.
The data comes amid concerns that a 15 per cent foreign buyers’ tax in the Greater Toronto Area could have a spillover effect on Canada’s second-largest city.
Quebec’s finance minister has said he has no plans in the near term to introduce such a tax since foreigners accounted for only about 1.5 per cent of all Montreal-area sales in the first nine months of 2016, according to the Canada Mortgage Housing Corp.
Housing sales in June were aided by a 17 per cent increase in sales on the Island of Montreal.
Condominium sales were up 20 per cent, marking a steady increase for a second consecutive month, while sales of single family homes rose four per cent.
The average price of Montreal area homes was $362,207 for June, up six per cent from a year ago. The average price for single family homes rose nine per cent to $396,367…
There were 3,952 properties sold last month, the highest level for June in eight years.
The data comes amid concerns that a 15 per cent foreign buyers’ tax in the Greater Toronto Area could have a spillover effect on Canada’s second-largest city.
Quebec’s finance minister has said he has no plans in the near term to introduce such a tax since foreigners accounted for only about 1.5 per cent of all Montreal-area sales in the first nine months of 2016, according to the Canada Mortgage Housing Corp.
Housing sales in June were aided by a 17 per cent increase in sales on the Island of Montreal.
Condominium sales were up 20 per cent, marking a steady increase for a second consecutive month, while sales of single family homes rose four per cent.
The average price of Montreal area homes was $362,207 for June, up six per cent from a year ago. The average price for single family homes rose nine per cent to $396,367…
Toronto’s deflating housing bubble, in one chart
– macleans.ca
(iStock)Home sales in Canada’s largest city slowed down for the third month in a row, according to numbers released from the Toronto Real Estate Board. That came as new listings rose nearly 16 per cent, and active listings surged over the year before.
The average house price still managed to increase 6.3 per cent on the year, but that’s well off the blistering annual pace of just a few months ago.
RELATED: Praying for a real estate crash
The June numbers delivered further evidence that the raft of new measures implemented by the Ontario government in April—from a new foreign buyers tax to rent controls—are starting to take effect.
The next few months will be crucial in determining whether the Toronto housing market has simply stumbled, or if this is the start of a deeper correction.
Here’s a look at how Toronto real estate market over the first six months of 2017 compares to last year:
MORE ABOUT REAL ESTATE:
Home sales in GTA plunge in June
Canadians of all income levels are panicked about house prices: poll
Praying for a real estate crash
Is a foreign buyers tax needed? Generations disagree
Hot real estate, high household debt create exposure to risk, says Bank of Canada
Is Toronto’s housing market decline for real?
Canada needs to do more to address housing market risks, says OECD
Nearly one in five first time homebuyers got family help for down payment
The post Toronto’s deflating housing bubble, in one chart appeared first on Macleans…
Liberals tap former RBC exec to be chairwoman of infrastructure bank
– canadianbusiness.com
The federal government is hiring the former chief financial officer at one of Canada’s largest banks to help oversee its new infrastructure-financing agency.
Janice Fukakusa is being named the new chairwoman of the Canada infrastructure bank.
Fukakusa retired in January from Royal Bank (TSX:RY) after a 31-year career at the bank.
She will now have a role in selecting the remaining members of the board of directors that will oversee the agency’s operations, as well as the chief executive.
The Liberals plan to have the new agency up and running by the end of the year.
Ottawa is planning to infuse the new institution with $35-billion hoping to pry three or four times that amount from the private sector for large-scale projects.
But the projects have to generate revenue, meaning they would result in new toll roads or bridges where user fees finance the construction costs.
The post Liberals tap former RBC exec to be chairwoman of infrastructure bank appeared first on Canadian Business – Your Source For Business News.
Janice Fukakusa is being named the new chairwoman of the Canada infrastructure bank.
Fukakusa retired in January from Royal Bank (TSX:RY) after a 31-year career at the bank.
She will now have a role in selecting the remaining members of the board of directors that will oversee the agency’s operations, as well as the chief executive.
The Liberals plan to have the new agency up and running by the end of the year.
Ottawa is planning to infuse the new institution with $35-billion hoping to pry three or four times that amount from the private sector for large-scale projects.
But the projects have to generate revenue, meaning they would result in new toll roads or bridges where user fees finance the construction costs.
The post Liberals tap former RBC exec to be chairwoman of infrastructure bank appeared first on Canadian Business – Your Source For Business News.
