Alex Jones ordered to sell assets to pay Sandy Hook debt  BBC.comJudge rejects bankruptcy plan for Alex Jones’ Infowars but allows him to liquidate his personal assets  CNNAlex Jones allowed to liquidate assets to help pay debt in Sandy Hook defamation verdicts, judge rules  NBC NewsJudge orders liquidation of conspiracy theorist Alex Jones′s personal assets  The GuardianAlex Jones’ personal assets to be sold to pay US$1.5B Sandy Hook debt. Company bankruptcy is dismissed  CTV News

Welcome to CB’s personal-finance advice column, Make It Make Sense, where each month experts answer reader questions on complex investment and personal-finance topics and break them down in terms we can all understand. This month, Scheherazade Hasan, a senior advisor at money-management platform Wealthsimple, tackles staying on budget during the summer. Have a question about your finances? Send it to editor@canadianbusiness.com.

Q: Is there a way to budget that allows me to save while also enjoying my summer?

Spring is here, which means spring cleaning. Between closets crowded with winter coats, an overflowing junk drawer and the storage solution you thought would make everything “simpler,” it’s easy to overlook a key item on your spring-cleaning checklist: your budget.

It may not be the most pressing item on your to-do list, but budgeting is a fundamental part of maintaining your financial wellbeing and building long-term wealth. It’s also the most effective way to ensure you’re bringing in more money than you’re spending, making it harder to slip into debt and easier to progress toward your goals…

Save

The best chequing accounts in Canada for 2024
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As ever more Canadian home owners face renewing their mortgages at higher rates, housing affordability remains one of the country’s top personal finance challenges. For years, would-be buyers have pointed out on social media that they #donthaveamillion to drop on their first home.

But if you have some flexibility around where to live, there are cities and neighbourhoods in Canada where homes can be had for less than seven figures—lots of them, in fact. All but five of the 45 cities and regions analyzed by our partner Zoocasa in this year’s Where to Buy Real Estate in Canada report had benchmark prices below $1 million (as of the end of 2023).

See the list of Canadian cities and regions below, in order of most to least affordable (followed by neighbourhood data for Toronto and Vancouver). You can sort the data in each table by tapping on the column headers, or filter results using the last row. You can download the data to your device in Excel, CSV and PDF formats. 

Canadian cities and regions with a benchmark price under $1 million

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at Region Province Benchmark price 1-year price change 3-year 5-year price change

1
Justin Dallaire
13/06/2024 12:52 PM
Justin Dallaire
13/06/2024 12:52 PM
Fredericton
N…

Welcome to the MoneySense Find a Qualified Advisor tool. We’ve partnered with the Financial Planning Association of Canada (FPAC) to create a directory of credentialled advisors providing financial planning and investing services across Canada. All of the advisors in our Find a Qualified Advisor tool are active FPAC members and have at least one recognized financial planning designation. (You can learn more about the different designations below the table.)

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Ask MoneySense
My husband and I retired last September. We have moved into a condo and are now travelling. Enjoying life but I’m concerned about his RRIF. My husband turns 71 in June 2025. So, I understand we can contribute to his RRSP for 2025 before he turns 71 and claim the contribution for the 2025 tax year but what happens next?

—Chris

When to convert an RRSP to a RRIF

Congratulations on your retirement, Chris. Glad to hear you and your husband are enjoying this first year so much.

I am guessing you have downsized your home to move to a condo and now have money to contribute more to your registered retirement savings plans (RRSPs) as a result. First, we will start with a quick rundown of how RRSP to RRIF conversion works.

Converting an RRSP to a RRIF

A registered retirement income fund (RRIF) is the most common withdrawal option for RRSP savings. By December 31 of the year you turn 71, you need to convert your RRSP to a RRIF or buy an annuity from an insurance company…

Spend

The best TD credit cards in Canada
We’ve broken down our picks for the best TD credit cards – whether you’re looking for cash back, points, no-fee cash back, or low interest.

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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. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

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You don’t notice what’s missing at first. Toronto’s TIFF Lightbox—that unassuming glass grid, dwarfed by the enormous monolithic condo protruding from the top of it—still looks the same. Inside the five-storey space is a surprising 16,000 square metres containing five cinemas, a screening room, a gallery and a library as well as office spaces from which to oversee it all: the not-for-profit arts organization, which is dedicated to “transforming the way people see the world through film.”

Then you catch it: The “TIFF” sign is still there above the entrance, but “Bell Lightbox” has been quietly removed. Canada’s leading telecom company got naming rights thanks to a $30-million investment in 2006, back when this King Street building—designed to be the headquarters of the Toronto International Film Festival—was still being erected. But last summer, Bell suddenly dropped its sponsorship. Now, the sign looks naked, diminutive—four tiny letters for that cavernous house of mirrors…

Meta shares sink after it reveals spending plans  BBC.comMeta is out-executing its peers on generative AI: Analyst  Yahoo Canada FinanceWe see Meta’s Q1 earnings-related stock slide as an opportunity  CNBCMeta tempers expectations for second-quarter revenue  The Globe and MailDow Jones Futures Fall As Meta Dives On Guidance; Chipotle Eyes Buy Point  Investor’s Business Daily

Welcome to CB’s personal-finance advice column, Make It Make Sense, where each month experts answer reader questions on complex investment and personal-finance topics and break them down in terms we can all understand. This month, Damir Alnsour, a lead advisor and portfolio manager at money-management platform Wealthsimple, tackles eco-friendly investments. Have a question about your finances? Send it to editor@canadianbusiness.com.

Q: It’s Earth Month! And… there’s a climate crisis. How can I invest in companies and portfolios funding causes I believe in?

Earth Day may have been introduced in 1970, but today it’s more relevant than ever: In a 2023 survey, 72 per cent of Canadians said they were worried about climate change. Along with carpooling, ditching single-use plastics and composting, you can celebrate Earth Month this year by greening your investment portfolio.

Green investing, or buying shares in projects, companies, or funds that are committed to environmental sustainability, is an excellent way to support projects and businesses that reflect your passions and lifestyle choices…

In an era where the pulse of finance is increasingly dictated by technological advancements, the industry stands at a crossroads. The trajectory of financial services is no longer solely in the hands of traditional banking institutions or even fintech disruptors. Instead, it lies at the intersection of two seemingly disparate realms: technology and creative. This fusion, which weaves together the analytical prowess of tech with the nuanced, human-centric approach of creativity, is a paradigm shift, signaling a new chapter in the evolution of finance.

Making Things Accessible, Human and Understandable

The concept of blending creativity with technology to propel the finance sector forward is a business position championed by technology firm, Paralucent. “This isn’t about leveraging technology in isolation. It’s about harnessing technology alongside imaginative problem-solving in order to craft business solutions that resonate on a deeply human level.”emphasizes Jeff Miller, founder and CEO of Paralucent…

Canada’s unemployment rate jumped to 6.1% in March as more people looked for work and job growth stalled—solidifying expectations of a June interest rate cut.

The unemployment rate in Canada February 2024

Statistics Canada’s labour force survey on Friday, April 5, shows the jobless rate is up from 5.8% in February, marking the largest monthly increase in the unemployment rate since summer 2022. Employment was little changed last month, with the economy shedding 2,200 jobs, after modest increases over the last several months.

“The cracks that had been emerging within the Canadian labour market suddenly got a lot wider,” wrote CIBC’s executive director of economics, Andrew Grantham, in a client note.

The March jobs report is the last piece of major economic data the Bank of Canada (BoC) has to consider ahead of its next interest rate decision on Wednesday.

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Canadians are continuing to be laid off as part of a wave of job cuts that began in 2023 as companies assessed their operations after the height of the COVID-19 pandemic passed. Tech companies, retailers and more have all begun shedding members of their workforce in a bid to navigate the economic downturn.

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Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.

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Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like exchange-traded funds (ETFs), guaranteed investment certificates (GICs), bonds, stocks and, yes, plain old cash. While you do have to abide by the set amount of contribution room each year, any growth you earn on those investments will not affect your contribution room for the current year or years to come. Plus, the income earned is tax-free (more on that below). Any resident of Canada who is 18 or older and has a valid social insurance number can open a TFSA.

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In today’s challenging economy, Canadians seek ways to stretch their hard-earned dollars and minimize financial strain. But learning how to make the most of every paycheque isn’t always clear or easy, which can cause added stress. Employers can help empower their employees to achieve financial wellness—while boosting their own ability to attract and retain talent—with a group savings program.

Employers can help employees plan for their future; whether it’s for homeownership, retirement or their child’s education—there’s a group savings plan for every financial goal. To achieve this, employers can benefit from a well-tailored program with a comprehensive registered pension or retirement savings plan customized to the needs of their business and their employees.

Financial planning made easy

“A key aspect of the support we provide is access to financial advice and guidance from an extensive network of professionals to fit employers’ business needs,” says RBC Group Advantage vice-president Doug Crowe…

Ask MoneySense
I have non-registered investment management fees from 2021 and 2022 that were not claimed on my returns for those years. Can they be deducted on my 2023 return? If not, is there another way to utilize those deductions now?

—Ian

How to change a tax filing to claim investment management fees

If you pay investment management fees for your non-registered investment account, the fees are generally tax deductible, Ian. They can be claimed on line 22100—carrying charges, interest expenses and other expenses. Fees paid for tax-preferred accounts like tax-free savings accounts (TFSAs) or registered retirement savings plans (RRSPs) are not deductible.

According to the Canada Revenue Agency (CRA), two types of fees are eligible to deduct:

“fees to manage or take care of your investments,”

and “fees, other than commissions, paid for advice on buying or selling a specific share or security by the taxpayer or for the administration or the management of the shares or securities of the taxpayer…

Canada’s unemployment rate jumped to 6.1% in March as more people looked for work and job growth stalled—solidifying expectations of a June interest rate cut.

The unemployment rate in Canada February 2024

Statistics Canada’s labour force survey on Friday, April 5, shows the jobless rate is up from 5.8% in February, marking the largest monthly increase in the unemployment rate since summer 2022. Employment was little changed last month, with the economy shedding 2,200 jobs, after modest increases over the last several months.

“The cracks that had been emerging within the Canadian labour market suddenly got a lot wider,” wrote CIBC’s executive director of economics, Andrew Grantham, in a client note.

The March jobs report is the last piece of major economic data the Bank of Canada (BoC) has to consider ahead of its next interest rate decision on Wednesday.

Featured accounts

sponsored

Hybrid savings account

Earn up to 4% interest on your savings…

Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.

powered by

Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like exchange-traded funds (ETFs), guaranteed investment certificates (GICs), bonds, stocks and, yes, plain old cash. While you do have to abide by the set amount of contribution room each year, any growth you earn on those investments will not affect your contribution room for the current year or years to come. Plus, the income earned is tax-free (more on that below). Any resident of Canada who is 18 or older and has a valid social insurance number can open a TFSA.

Featured TFSA Accounts

featured

Best TFSA savings account

Earn 3% interest tax fee tax-free interest with flexible withdrawals and zero fees…

Canadians are continuing to be laid off as part of a wave of job cuts that began in 2023 as companies assessed their operations after the height of the COVID-19 pandemic passed. Tech companies, retailers and more have all begun shedding members of their workforce in a bid to navigate the economic downturn.

Featured accounts

sponsored

Hybrid savings account

Earn up to 4% interest on your savings. Plus, use the pre-paid Mastercard for everyday purchases and free ATM withdrawls.

go to site

featured

Online brokerage

Buy and sell stocks or ETFs with $0 commission on all transactions. No minimum deposit needed.

go to site

featured

Savings account

Save more every day with 5…

Ask MoneySense
I have non-registered investment management fees from 2021 and 2022 that were not claimed on my returns for those years. Can they be deducted on my 2023 return? If not, is there another way to utilize those deductions now?

—Ian

How to change a tax filing to claim investment management fees

If you pay investment management fees for your non-registered investment account, the fees are generally tax deductible, Ian. They can be claimed on line 22100—carrying charges, interest expenses and other expenses. Fees paid for tax-preferred accounts like tax-free savings accounts (TFSAs) or registered retirement savings plans (RRSPs) are not deductible.

According to the Canada Revenue Agency (CRA), two types of fees are eligible to deduct:

“fees to manage or take care of your investments,”

and “fees, other than commissions, paid for advice on buying or selling a specific share or security by the taxpayer or for the administration or the management of the shares or securities of the taxpayer…

In today’s challenging economy, Canadians seek ways to stretch their hard-earned dollars and minimize financial strain. But learning how to make the most of every paycheque isn’t always clear or easy, which can cause added stress. Employers can help empower their employees to achieve financial wellness—while boosting their own ability to attract and retain talent—with a group savings program.

Employers can help employees plan for their future; whether it’s for homeownership, retirement or their child’s education—there’s a group savings plan for every financial goal. To achieve this, employers can benefit from a well-tailored program with a comprehensive registered pension or retirement savings plan customized to the needs of their business and their employees.

Financial planning made easy

“A key aspect of the support we provide is access to financial advice and guidance from an extensive network of professionals to fit employers’ business needs,” says RBC Group Advantage vice-president Doug Crowe…

Air Canada officially launched their new Vancouver to Singapore flight earlier this week and to celebrate they are offering bonus points on new bookings for the route! Aeroplan members who register and book flights between Canada and Singapore by April 15 for travel until March 2025 will earn up to 15,000 bonus points. The up […]
The post Earn up to 15,000 bonus Aeroplan points on Air Canada flights to Singapore appeared first on Rewards Canada.

New Amex Offers statement credit for Sam Edelman and earn double Guest Rewards points on Amtrak’s Canadian services. Check out today’s points & miles updates here:
The post RWRDS Daily Update – April 5, 2024 appeared first on Rewards Canada.

Faced with decades-high inflation, Canadians are changing how often they shop, where they shop, and what they buy as they follow deals and lean into loyalty programs. Yet brands and loyalty programs have been slow to respond, acknowledging the shift with solutions that empower consumers. 

“In a challenging economic climate marked by mindful spending, retailers need to offer all of the extra value that they can,” says Shawn Stewart, President at AIR MILES. “We know that Canadians are members of more than 13 loyalty programs and active in seven. Instead of fighting against that reality, we’re redesigning AIR MILES as an open and flexible program, creating solutions that can layer on top of existing retailer programs, provide opportunities for CPG brands, and give Canadians the opportunity to earn wherever they shop for groceries.”  

The changing landscape of consumer behaviour 

AIR MILES’ research has found that consumers overwhelmingly favour retailers that offer loyalty programs over ones that don’t: 82 per cent said they were more likely to shop at a store with a loyalty program, 69 per cent said their retailer of choice was influenced by whether they could earn loyalty points, and 66 per cent will modify where and when they make a purchase to maximize their points…

Earlier in the week we let you know how KOHO have lowered the earn rates on the Extra Plan and a day after that they removed most of the details of the free Easy Plan. There were questions on what was happening to the plan as it is still shown on the home page but […]
The post Further changes to KOHO Prepaid Mastercard – Easy Plan gone & Essential Plan earn rate cut appeared first on Rewards Canada.

Ask MoneySense
I am in B.C., Canada. I moved my LIRA into a LIF two years ago. I have taken the maximum annual withdrawals for each year. I thought it’d be smart to start taking it. How can I get more out of it? I need the funds to help deal with bill payments. All my monthly income is going to a mortgage now, and I have no extra money for anything else. I am trying to save my credit rating and cannot use credit anymore. Can it be transferred back into something that I can withdraw? Hardship clauses do not apply to me, but that does not mean I am not in trouble. I wish I had not done it. I have put myself in a terrible spot. This LIF is not my only income for retirement. I have another pension and full CPP and OAS. Any advice you have? I would greatly appreciate it.  

—CM

Reversing the LIF

CM, if you’re taking the maximum annual withdrawals from your life income fund (LIF), then it’s unlikely you will be able to take any additional money from your LIF…

For the Schooley family, embracing their farming roots while looking for new possibilities paved the way to a sustainable future.

Apple Hill Lavender Farm is an agritourism destination in Norfolk County boasting an on-site boutique in an historic barn, as well as five acres of rolling lavender fields and a picturesque apple orchard. The agritourism business is just part of their larger family farm. Schooley Orchards Limited was established in 1906 and is now transitioning to the fourth generation.

And when it comes to succession planning, it’s no easy feat. Seventy per cent of family-run organizations struggle with the transition process. But the Schooley family has always worked well together—openly communicating successes and brainstorming ideas to overcome barriers. With a passion for innovation and creativity, their next generation is fostering new growth on the farm.

Planting the seeds of sustainability

In 2008, Harold Schooley, the farm’s third-generation owner, pulled out five acres of apple trees to plant lavender as a retirement gift to his wife…

In today’s challenging economy, Canadians seek ways to stretch their hard-earned dollars and minimize financial strain. But learning how to make the most of every paycheque isn’t always clear or easy, which can cause added stress. Employers can help empower their employees to achieve financial wellness—while boosting their own ability to attract and retain talent—with a group savings program.

Employers can help employees plan for their future; whether it’s for homeownership, retirement or their child’s education—there’s a group savings plan for every financial goal. To achieve this, employers can benefit from a well-tailored program with a comprehensive registered pension or retirement savings plan customized to the needs of their business and their employees.

Financial planning made easy

“A key aspect of the support we provide is access to financial advice and guidance from an extensive network of professionals to fit employers’ business needs,” says RBC Group Advantage vice-president Doug Crowe…

In today’s challenging economy, Canadians seek ways to stretch their hard-earned dollars and minimize financial strain. But learning how to make the most of every paycheque isn’t always clear or easy, which can cause added stress. Employers can help empower their employees to achieve financial wellness—while boosting their own ability to attract and retain talent—with a group savings program.

Employers can help employees plan for their future; whether it’s for homeownership, retirement or their child’s education—there’s a group savings plan for every financial goal. To achieve this, employers can benefit from a well-tailored program with a comprehensive registered pension or retirement savings plan customized to the needs of their business and their employees.

Financial planning made easy

“A key aspect of the support we provide is access to financial advice and guidance from an extensive network of professionals to fit employers’ business needs,” says RBC Group Advantage vice-president Doug Crowe…

Higher interest rates and inflation have become a reality for Canadians. Will 2024 bring relief? And how will the still-uncertain landscape affect economic growth and consumer spending this year? Michelle Meyer, chief economist at Mastercard and head of the Mastercard Economics Institute, discusses her outlook for the Canadian and global economies in 2024—and how consumers may face tough choices, but not without some signs of positive change on the horizon.

What is the global economic backdrop for 2024?

For the global economy, 2024 should be marked by easing inflation pressures across most economies and real GDP growth that is quite comparable to what we experienced in 2023. The Mastercard Economics Institute expects real global GDP growth of 2.9% this year, compared with about 3% for 2023. The global economy is still expanding, in particular because of eased inflationary pressure across most developed countries.

Will that easing of inflation be accompanied by an easing of interest rates?

Precisely…

AIR MILES will provide miles for the Shell offer that was pulled last week – even if you didn’t buy gas and Estee Lauder returns to Amex Offers. Check out today’s points & miles updates here:
The post RWRDS Daily Update – March 28, 2024 appeared first on Rewards Canada.