How to go about securing the best savings strategy in Canada.
Latest News
Financial planning in your 70s + MORE Feb 13th
When most people think about financial planning, they think about saving and investing for retirement. That is a part of it, but financial planning is much more holistic.
Here are a few financial planning strategies for those approaching or into their 70s. If you’re not there yet, bookmark this fo.... More »
Organize Your Spending With These Great Financial Apps Aug 9th
Your phone can answer your questions in the amount of time it takes you to type it in or, quite literally, ask it. It wakes you up in the morning, tells you the weather, and keeps you connected. It can even pay for your morning coffee. But, if you can pay with your phone in an instant, you had bett.... More »
What is financial freedom in Canada? + MORE Oct 23rd
Canadians aren’t short on advice for achieving financial freedom. A quick online search for “how to become financially free” will give you results that can be either informative or confusing. To be fair, some of it is correct, some is misleading, and some is downright wrong. Sources range from.... More »
Making sense of the markets this week: September 6, 2021 + MORE Sep 5th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
The rich get richer as rates go lower
We know that lower rates set by central banks help to stimulate economic growth by providing cheap money. On the flipsi.... More »
Why I’m optimistic about the markets in 2025–tariffs or no + MORE Dec 24th
Will he or won’t he? Ever since former president and president-elect Donald J. Trump threatened to impose 25% tariffs on all goods entering the U.S. from Canada and Mexico and 10% tariffs on China, that’s been the question on everyone’s mind. Is this a negotiating tactic? I think so. But even .... More »
Filing taxes while holding U.S. investments in Canada
– moneysense.ca
Q: I have investment money that originated with a U.S. management company, but I moved it to a Canadian management company, keeping it in U.S. dollars.
Is this investment still considered U.S. dollars taxed by U.S. tax laws or are they considered under Canadian investments and must follow Canada’s tax laws?
—Peter
A: Canadian residents are taxable on their worldwide income, Peter. So it doesn’t matter where your investments are located. It doesn’t matter what currency you’re holding. All that matters is that you reside in Canada, so the Canada Revenue Agency (CRA) wants their fair share of income tax on any income earned anywhere in the world.
In fact, there is even a special form called a Form T1135 – Foreign Income Verification Statement that is meant for reporting foreign assets and income to the CRA. It is used to report “specified foreign property” if your cost for certain foreign assets exceeded $100,000 Canadian (based on the exchange rates at the time of purchase) at any time during the year…
The government of Brazil on Wednesday launched a formal complaint against Canada over aerospace sector subsidies, just a day after the Canadian government said it would make interest-free loans of $372.5 million to Bombardier.
Quebec opposition parties critical of Ottawa’s aid response to Bombardier
– canadianbusiness.com
The federal response to Bombardier’s request for financial assistance is yet another sign of Ottawa giving short shrift to Quebec, Parti Quebecois Leader Jean-Francois Lisee said Wednesday.
In a familiar refrain, Lisee bemoaned that the $372.5 million Ottawa has offered the Quebec-based aerospace giant in interest-free loans is chump change when compared to the money the federal government has given Ontario’s automobile industry.
Lisee’s conclusion: that Quebec is always the big loser in the federal system and that its interests would be better served by independence.
“What’s the point of being in this country?” he asked. “We’re not in the right country.”
The federal money for Bombardier (TSX:BBD.B) will be handed out in instalments over four years to support the Global 7000 and CSeries aircraft projects.
Federal Innovation Minister Navdeep Bains said the money will preserve thousands of high-paying technology jobs in Ontario where the Global will be assembled and in Quebec where it is completed and the CSeries is built…
In a familiar refrain, Lisee bemoaned that the $372.5 million Ottawa has offered the Quebec-based aerospace giant in interest-free loans is chump change when compared to the money the federal government has given Ontario’s automobile industry.
Lisee’s conclusion: that Quebec is always the big loser in the federal system and that its interests would be better served by independence.
“What’s the point of being in this country?” he asked. “We’re not in the right country.”
The federal money for Bombardier (TSX:BBD.B) will be handed out in instalments over four years to support the Global 7000 and CSeries aircraft projects.
Federal Innovation Minister Navdeep Bains said the money will preserve thousands of high-paying technology jobs in Ontario where the Global will be assembled and in Quebec where it is completed and the CSeries is built…
