Personal Savings getting you down? There are always smart ways to increase your savings.
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How to invest as a teenager in Canada + MORE Dec 5th
If you’re starting to save the money you’ve received from birthdays, holidays and part-time jobs, you may be wondering how you can invest your savings. An important life lesson for any young person is the habit of saving—so investing for some teenagers can be the next step.
In Canada,.... More »
’Tis the season for tax-loss selling in Canada + MORE Dec 11th
With 2023’s year-end fast approaching, late December is a critical period for Canadian investors and their money managers. Now that we’re in the fourth quarter, this is the time to take inventory of your investments—and specifically taxable non-registered investment accounts—with an eye to m.... More »
The scoop: What Canadian investors need to know now + MORE Sep 19th
For those who like surprises, the stock markets have not disappointed in 2020. The S&P 500 surged to new heights despite the economy-clenching COVID-19 pandemic powering around the globe, and individual investors’ participation in trading reached a 10-year high during the first half of this ye.... More »
RRSPs: Your Essential Questions Answered + MORE Feb 22nd
At this time of year, it seems like the financial world is awash with information on what is a Registered Retirement Savings Plan (RRSP), the benefits of having one, and how to start one. But there are still a few planning points that Canadians either aren’t aware of or don’t know how to put t.... More »
4 Things You Should Do Now So You Can Save on Taxes in the New Year
– ratesupermarket.ca
With all the hustle and bustle that’s synonymous with this time of year, it’s important to also take a closer look at your personal finances before heading into 2019 – and we’re not talking about holiday budgets. Yes, most Canadians are busy with Christmas shopping and festivities, but soon enough, it will be time to file our taxes again. So make sure your money matters are in order and you’re not leaving any money on the table in 2018 with these tips…
Sell your losing investments
If you want to claim capital loss on your 2018 tax return, you have to sell any losing investments by December 31. Capital loss is loss that impedes on a capital asset. This asset could be an investment, like stocks or bonds or real estate. But you cannot claim capital loss until you sell that asset. If you are confident that selling your losing asset is the right choice, and it is held outside of a registered account, do this before the last day of 2018 so you can offset some of the income tax you pay…