The best GIC rates in Canada for 2026 Jun 16th
Your American spouse may not want to inherit your TFSA Jun 2nd
Why are we so afraid of financial mistakes? + MORE Jul 17th
Canadian manufacturer pivots to 'huge' market in India as country tries to strike trade deal - CBC May 29th
Jeffrey Rath fought for First Nations. Now former clients are fighting him - Global News Jul 14th
For most of my adult life, I had never paid personal income tax—not because I was avoiding it, but because I lived and worked in the Middle East, where that’s simply not part of the system. When we started planning our move to Canada, the idea of paying taxes was, if I’m being honest, intimidating.
It wasn’t just the thought of “losing” a portion of my hard-earned income; that concern faded quickly. What stayed with me was the fear of getting it wrong—of misunderstanding the rules, making a mistake, and finding myself in trouble for something I didn’t fully understand.
I remember having a conversation before we moved, when someone asked if I was excited about paying taxes in Canada. I laughed, but underneath it, I was stressed. And I was not alone.
According to recent data, nearly 90% of newcomers to Canada file their taxes within their first year or shortly after arrival, which is encouraging. But the more telling statistic is this: a 2025 TD survey found that 76% of newcomers fear making mistakes on their tax return, and more than half find the process overwhelming…
Here’s a round-up of news for Canadian investors this week.
BlackBerry
Lululemon
Teck Resources
Rogers
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Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada…
High gas prices are fuelling car-free dreams
– moneysense.ca
Work and amenities are close, you have good transit options—do you really still need that car? A lot of advisers say no. After shelter and food, transportation is the third most expensive cost for Canadians, Statistics Canada confirmed. Ratehub found that, over nine years, car expenses can total more than $139,000. That figure was calculated before gas prices surged. What else could you do with that money?
On the other hand, if you give up your car, there are limitations and new costs to consider.
Car-free living still comes at a cost
Mark Lotocky, owner and financial planner at The Dixon Davis Group, a fee-only financial planning firm in Victoria, lived car-free from 19 to 35 years old. “I basically lived in a transit- and biking-friendly space for essentially all my 20s and into my mid-30s,” Lotocky said. “It is possible, and it is a great thing. I loved it.”
The costs show up anytime you leave that transit network, he said: taxis, ride-hailing, rentals, car shares, and co-ops…
