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Tax write-offs that Canadians often get wrong Apr 14th
I come across frequent questions from taxpayers about expenses they think they can claim as a tax deduction or credit. Often, they cannot be claimed, or there are strict criteria that apply.
Safety deposit box
Back in the olden days, investors sometimes kept stock certificates in their safety .... More »
Toronto stock index advances on energy as the price of oil nears US$50 + MORE Aug 2nd
Canada’s main stock index advanced Wednesday, led primarily by gains from oil and gas producers as the price of crude edged back closer to the US$50 mark.
The S&P/TSX composite index was up by 63.53 points to 15,265.63, with the energy sector among key advancers.
The September crude oil c.... More »
How much to take out of your RRSP in your 60s Oct 4th
Many retirees have the bulk of their retirement savings in registered retirement savings plans (RRSPs) or similar tax-deferred registered accounts. RRSPs need to be used to buy an annuity or more commonly converted to a registered retirement income fund (RRIF) by Dec. 31 of the year someone turns 71.... More »
Stock market news for Canadian investors: Cineplex, McDonald’s report earnings Feb 12th
Companies that reported earnings this week
Cineplex
McDonald’s
L.A. wildfires, U.S. tariff threats don’t have Cineplex execs worried
Source: Google
Cineplex (TSE: CGX)
Q4 earnings: $3.3 million or five cents per share, compared with a loss of $9.0 million or 14 cents pe.... More »
Paying capital gains tax on a loss + MORE Apr 24th
Q: My question today relates to the new changes to capital gains on real estate. My wife and I owned a condo for a number of years. We paid $80,000 in 2006 and sold for $140,000 in March 2016. The problem is we rented the unit out after we bought our house in 2011. Looking at the new formula for .... More »
US agencies say decade-old Gulf oil leak could persist 100 years or more if unchecked
– canadianbusiness.com
WASHINGTON – For more than a decade, oil has been leaking into the Gulf of Mexico where a hurricane toppled a drilling company’s platform off the coast of Louisiana. Now the federal government is warning that the leak could last another century or more if left unchecked.
Government estimates obtained by The Associated Press provide new details about the scope of a leak that has persisted since Hurricane Ivan in 2004.
Taylor Energy Co., which owned the platform and a cluster of oil wells, has played down the extent and environmental impact of the leak. The company also maintains that nothing can be done to completely eliminate the chronic oil slicks that often stretch for miles off the Louisiana coast.
Taylor has tried to broker a deal with the government to resolve its financial obligations for the leak, but authorities have rebuffed those overtures and have ordered additional work by the company, according to Justice Department officials who were not authorized to comment by name and spoke on condition of anonymity…
Government estimates obtained by The Associated Press provide new details about the scope of a leak that has persisted since Hurricane Ivan in 2004.
Taylor Energy Co., which owned the platform and a cluster of oil wells, has played down the extent and environmental impact of the leak. The company also maintains that nothing can be done to completely eliminate the chronic oil slicks that often stretch for miles off the Louisiana coast.
Taylor has tried to broker a deal with the government to resolve its financial obligations for the leak, but authorities have rebuffed those overtures and have ordered additional work by the company, according to Justice Department officials who were not authorized to comment by name and spoke on condition of anonymity…
What can you buy for the average home price of $448,862?
– macleans.ca
The real estate numbers are in for April, and once again, they were up, up, up. According to the Canadian Real Estate Association, the average home price for resale homes across Canada jumped 9.5 per cent last month from a year earlier, hitting $448,862. A lot of that gain was driven by two markets in particular—Toronto and Vancouver. Strip those out, and the average home price increased by 3.4 per cent to $339,893.But how much home can you get for the average price of $448,862 in different cities across Canada? Since there are so many different types of homes captured in CREA’s average (condos, townhouses, detached and semi-detached houses), we decided to narrow our search just to houses (detached or semi). The goal was to see just how close to each city’s centre a potential buyer could find a place for roughly that price. In some cases, cheaper houses can be found that are even closer to downtown, but we’ve picked those houses priced nearest to the average…
