Watch: The differences between a TFSA and RRSP + MORE Sep 22nd

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How to know if a secondary suite or basement apartment is legal—and a worthwhile investment + MORE Sep 30th

If you’re buying a property right now, chances are you’ve come across more than a few homes that advertise income potential—thanks to a secondary suite or basement apartment.  Beyond the practical reasons for wanting a secondary suite, such as having a senior-age parent move in, two-un.... More »

Weather tracker: how did Hurricane Fiona maintain intensity so far north? - The Guardian Sep 26th

Weather tracker: how did Hurricane Fiona maintain intensity so far north?  The GuardianNova Scotia announces financial support for Fiona recovery  CTV News AtlanticStorm Fiona: Premier Houston outlines what financial support Nova Scotians can get  Global NewsToronto non.... More »
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Canada begins Storm Fiona cleanup as scale of devastation becomes clear - The Guardian + MORE Sep 28th

Canada begins Storm Fiona cleanup as scale of devastation becomes clear  The GuardianN.S. premier blasts telecom companies in wake of Fiona, calls on Ottawa to step in with regulation  CBC.caPrime Minister tours storm-hit Newfoundland, pledges $10-million in relief  The.... More »

N.S. premier blasts telecom companies in wake of Fiona, calls on Ottawa to step in with regulation - CBC.ca Sep 28th

N.S. premier blasts telecom companies in wake of Fiona, calls on Ottawa to step in with regulation  CBC.caProvince Details Financial Support for Those Affected by Hurricane Fiona  VOCMStorm Fiona: Mendicino says Tories pushed ‘false info’ with ArriveCan border questions .... More »
Canadians have many different reasons to hunt for a second property. Some want the source of income that an investment property can provide; others want to secure housing for a child during post-secondary education. There are those who simply want a rural retreat, like a country home or cottage.

Whatever the reason for having a second property, there are in fact many multiple-property owners in Canada. In British Columbia and Nova Scotia, for instance, owners with multiple properties represent 15% and 22% of all home owners, respectively, according to Statistics Canada. That’s more than one in 10 home owners in British Columbia, and almost one in five in Nova Scotia.

If you’re hoping to be among the growing number of Canadians who own a second property, or if you want to add a third or fourth, it’s essential that you become familiar with the mortgage rules.

You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quote*I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense…

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A tax-free savings account (TFSA) is a registered account that holds investments and allows you to grow your money tax-free and withdraw it tax-free. That means you don’t have to report any income earned in the account on your personal tax returns. A registered retirement savings plan (RRSP) is also a registered account, but it works differently than a TFSA, in that you defer reporting the income earned in an RRSP until you withdraw the funds—likely when you’re retired and in a lower tax bracket than when you were working. But that’s not all. Watch to find out more.

Watch: The differences between a TFSA and RRSP

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You know both can help lower how much income tax you pay—both are registered accounts, after all—but how do you decide whether to put your money into a tax-free savings account (TFSA) or a registered retirement savings plan (RRSP)? Watch this video to learn about the four things to consider before putting your money into a TFSA or an RRSP.

Watch: 4 things to consider before putting your money in a TFSA or RRSP

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