Stock news: Dividend hikes, earnings results, and what moved Canadian stocks this week + MORE Feb 7th

When you are managing the tax affairs of someone who has died, there are important steps to take to notify the Canada Revenue Agency (CRA), represent the deceased taxpayer, and finalize their tax filings. 

Contacting the CRA

You should contact the government as soon as possible. This includes steps like cancelling a provincial health card, driver’s license, and applying for Canada Pension Plan (CPP) death and survivor benefits. 

From a tax perspective, you should contact the CRA by phone or by mail. If you call CRA Individual Tax Enquiries at 1-800-959-8281, you should make sure you have on hand the person’s:

Date of death

Social Insurance Number (SIN)

Mailing address

Last tax return or notice of assessment

You should report their date of death and stop any ongoing benefits that may need to be repaid. 

There are several other government agencies you should also notify.

Executors and next of kin

To formally represent someone who has died with CRA, you can do so as a legal representative or name an authorized representative…

A new report says less than half of non-retirees in Canada have a workplace pension plan. IG Wealth Management’s annual retirement study said a generational shift is re-shaping how Canadians approach retirement as 48% of non-retirees have a workplace pension plan, whether it be a defined-benefit or defined-contribution plan.  

“The decline of defined benefit and contribution pension plans has fundamentally shifted the burden of retirement planning on to individuals in recent years,” Christine Van Cauwenberghe, head of financial planning at IG Wealth Management, said in a news release. 

As pensions disappear, many Canadians lack a retirement plan

Employers began phasing out defined benefit pension plans about 30 years ago, the release said, leaving more Canadians without the same level of guaranteed income than previous generations.  

“Our data shows that while Canadians recognize this shift, many still lack a clear picture of what they need to save–and how to convert their savings into a ‘personal pension plan,’” Van Cauwenberghe said…

Whether you want to reduce your 2025 tax bill or boost your retirement savings, the annual registered retirement savings plan (RRSP) deadline can create a sense of urgency. RRSP contributions lower your taxable income, and choosing the right investments to hold inside your RRSP is an important decision when considering your goals and comfort with volatility. For investors with self-directed RRSPs, that often translates into a rush toward higher-growth investment options—sometimes at the expense of stability.

That’s where guaranteed investment certificates (GICs) can quietly shine. When used strategically, GICs can provide balance, certainty, and tax efficiency within an RRSP. And when those RRSP GICs come from a credit-union-backed financial institution offering highly competitive rates, like Achieva Financial, they can be a key building block in your retirement strategy instead of just a supporting piece. RRSP GICs offer a way to reduce your taxes today while adding predictability to your long-term retirement plan…

Here’s a round-up of news for Canadian investors this week.

Suncor

ATS

Brookfield

Thomson Reuters

BCE

Canada Goose

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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…