Justine wonders whether she should add money to her TFSAs, RRSPs or RESPs, or is it best to pay down her mortgage? Justine may want to reassess her investment strategy at this time, planner says. Photo by Brent Lewin/Bloomberg By Julie Cazzin and Brenda Hiscock Advertisement 2 This advertisement has not loaded yet, but your… Continue reading FP Answers: What should I do with a $275,000 payout from my critical illness insurance policy?
TFSA rules land two more taxpayers in hot water with the CRA
Jamie Golombek: The cases involved an overcontribution and the constitutionality of the TFSA’s 100-per-cent advantage tax Publishing date: Oct 07, 2022 • October 7, 2022 • 5 minute read • 8 Comments If you accidentally overcontribute to your TFSA beyond your maximum, you can get hit with an overcontribution penalty tax. Photo by Getty Images/iStockphoto… Continue reading TFSA rules land two more taxpayers in hot water with the CRA
There’s only five paycheques to Christmas so start budgeting now
Just like Santa, it’s all about your list Shoppers hit the Eaton Centre in Toronto in the lead up to Christmas. To avoid shredding your budget during the holidays, start putting some money aside now so you don’t regret that seasonal generosity in January, recommends credit counsellor Sandra Fry. Photo by Jack Boland /Toronto Sun/Postmedia… Continue reading There’s only five paycheques to Christmas so start budgeting now
FP Answers: Is our conservative investment plan really the right one for us?
Knowing your lifestyle wants will lead to appropriate asset allocation decisions, experts say Experts say you should start with lifestyle planning first, followed by financial planning and then investments. Photo by Getty Images/iStockphoto files By Julie Cazzin with Allan Norman Advertisement 2 This advertisement has not loaded yet, but your article continues below. Q: I’m… Continue reading FP Answers: Is our conservative investment plan really the right one for us?
CRA can deny business expenses even after the normal assessment period
Jamie Golombek: The CRA can deny expenses if taxpayer doesn’t appear to be running a business with a view to profit If business expenses aren’t reasonable, the Canada Revenue Agency can deny them. Photo by Getty Images/iStockphoto Business owners can generally deduct a variety of business expenses when calculating their net income for tax purposes.… Continue reading CRA can deny business expenses even after the normal assessment period
World set for first ‘significant destruction’ of wealth since 2008 financial crisis, says Allianz
In real terms, households could lose a tenth of their wealth Publishing date: Oct 12, 2022 • 2 days ago • 2 minute read • 54 Comments In real terms, households could lose a tenth of their wealth this year, according to Allianz’s 2022 global wealth report. Photo by Getty Images Global financial assets are set… Continue reading World set for first ‘significant destruction’ of wealth since 2008 financial crisis, says Allianz
A recession in Canada will likely strike sooner than first predicted, Royal Bank says
First quarter of 2023 instead of the second quarter Publishing date: Oct 12, 2022 • 2 days ago • 2 minute read • 7 Comments The Royal Bank of Canada is predicting that rising interest rates and persistent inflation will push the economy into recession in the first quarter of 2023, one quarter ahead of an… Continue reading A recession in Canada will likely strike sooner than first predicted, Royal Bank says
Planning for your final years helps you and your children adjust with a little less guilt
The best gift you can give your adult children is to complete your estate and eldercare plan Educating yourself on the different options of eldercare and ensuring your financial plan is reflective of your wishes is paramount. Photo by Getty Images/iStockphoto My siblings and I won the lottery when it comes to our parents. Unfortunately,… Continue reading Planning for your final years helps you and your children adjust with a little less guilt
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