When does the “plus 1” rule apply to a principal residence?  + MORE Jan 23rd

There are more investment options in Canada than you can shake a stick at! Stay on top of the best returns right here.
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Bernice is debt free and has savings, but wonders if she should start investing in the stock market + MORE Jan 30th

The 35-year-old millennial has her financial house largely in order, says investment adviser Jason Heath, but she may want to consider stock investments in addition to her TFSA and savings accounts.... More »

Shannon Lee Simmons defines “emotional return on investment” and her take on personal debt Jan 28th

Three-time author, founder and Certified Financial Planner Shannon Lee Simmons is no stranger to going off-budget—and she’s not afraid to talk about it. After quitting her Bay Street job to start her own advice-only financial planning firm, the New School of Finance, she found herself in more de.... More »
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How to make better financial decisions—without regret—in a crisis Jan 27th

How do you make no-regret decisions when you are in crisis? You follow the guidelines in what I call the Decision Crisis Playbook.  The Decision Crisis Playbook  In this book, a decision crisis means you have to make big decisions at a really difficult time but your basic needs .... More »

Why You Should Make ‘Career Cushioning’ Part of Your Job This Year + MORE Feb 1st

Have you ever casually browsed job boards, just to see what’s out there? Taken a recruiter’s call, even though you’re not sure you want to leave your current role anytime soon? Started a side hustle because it never hurts to have a Plan B? Congratulations, you were “career cushioning”—wh.... More »

When investing, think like a landlord + MORE Feb 3rd

Markets never move in a straight line, yet if you look at a long-term chart of the S&P 500 you might argue otherwise. !function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script"),d=o[0],r=/^http:/.test(e.location)?"http:":"https:";if(/^/{2}/.test(i)&&(i=r+i),window[n]&a.... More »
If I am willed a house and prefer to sell my primary residence to move into the inherited house, do I pay capital tax on the sale of my house?Is it better to be on title of the house I will inherit, even though I own another house, or leave it as an inherited house only to save taxes?—Doris

Tax implications of inheriting a second property

When someone dies owning real estate, there may or may not be tax payable. Death results in a deemed disposition, as if you sold all of your assets the day you die. If the real estate qualified as the principal residence of the deceased for all years they owned it, it would be tax-free to their estate. If some or all of the capital gain is taxable, their estate would pay tax accordingly on the final tax return of the owner.

When you receive an inheritance, Doris, it is tax-free to you as a beneficiary. The fair market value of a capital asset like real estate at the time you inherit it becomes your cost base for capital gains tax purposes.

Say, for example, you kept the inherited house and used it as a rental property, renting it to tenants…

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Book review: The Intelligent Fund Investor by Joe WigginsWow! I just finished Joe Wiggins’ new book, The Intelligent Fund Investor (Harriman House, November 2022). What a great read—I’d recommend it for both DIY and professional investors. There’s no fluff, and I comfortably read through every chapter, right to the end—something I don’t always do.

What makes fund investors intelligent?

Author Joe Wiggins

As the book’s title suggests, this is about fund investing, which includes exchange-traded funds (ETFs). And Wiggins sets out to answer the question: “What does it take to be an intelligent fund investor?”

All you need is a sound set of beliefs supported by evidence and the ability to manage your own behaviour, he writes. And that’s it. Possessing those two elements will position you for a successful investment experience. 

Using evidence and entertaining anecdotes, Wiggins justifies his position through 10 compelling chapters. Here are their titles below. As you read them, I encourage you to reflect upon your investment experiences and consider how each chapter may relate to you…

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