Finance
CRA breach settlement claims have opened: How much money could you get?
[ad_1] A 2020 data breach affecting CRA and Service Canada online accounts had resulted in a major class action, and a settlement of $8.76…
Tag: Ask a planner
Finance
What happens when you inherit an IRA or 401(k)?
[ad_1] Spousal beneficiary When a spouse inherits an IRA or 401(k), they can take over the account as an inherited account or transfer the…
Finance
Preparing taxes for someone who died – MoneySense
[ad_1] Contacting the CRA You should contact the government as soon as possible. This includes steps like cancelling a provincial health card, driver’s license,…
Finance
Tax implications of shareholder loans – MoneySense
[ad_1] When your corporation owes you money If you personally pay for expenses on behalf of your company, it owes you for these personally…
Finance
Your TFSA reset for the new year – MoneySense
[ad_1] New TFSA contribution room Every Canadian resident aged 18 or older has $7,000 of new TFSA room as of January 1, 2026. This…
Finance
Should I hold my house in a trust? – MoneySense
[ad_1] What is a trust? A trust is a legal arrangement where a person called the settlor transfers assets to a trustee to manage…
Finance
An update on trust tax return filings for 2025 – MoneySense
[ad_1] What is a trust? A trust is a legal arrangement whereby a settlor transfers assets to a trustee or trustees who hold and…
Finance
What happens if you sell real estate to family for a dollar? – MoneySense
[ad_1] Fixing a past tax mistake If you discover a mistake, or you want to come forward with an omission, there is a path…
Finance
How to bridge the gap until an inheritance – MoneySense
[ad_1] CPP/OAS strategy without other pensions You can begin your Canada Pension Plan (CPP) retirement pension as early as age 60 or defer it…
Finance
What is the Canada Pension Plan death benefit? – MoneySense
[ad_1] There are several other programs that CPP contributors and family members are eligible for—including the CPP death benefit, Sam. A Quebec resident may…
Finance
Should you sell stocks you inherit? – MoneySense
[ad_1] How are stocks taxed when you inherit them? When a spouse or common law partner is a beneficiary, assets can be transferred to…
Finance
Can you move income back and forth between spouses? – MoneySense
[ad_1] Let’s look at reporting investment income and capital gains, and which spouse should report the capital gain on a rental property. Reporting investment…
Finance
Annuity vs. GIC: What makes sense for retiring? – MoneySense
[ad_1] As you know, of course, annuities and GICs are not the same thing. An annuity provides a guaranteed income for life, or a…
Finance
Financial hardship withdrawal exceptions and increasing income in retirement – MoneySense
[ad_1] First, remember the money in your locked-in retirement account (LIRA) or LIF is money intended to provide you with a lifetime income. Upon…
Finance
Can you save on taxes by owning an investment account with your child? – MoneySense
[ad_1] When you give cash or assets to a family member to invest, there may be attribution of that income back to you. Attribution…
Finance
Tax implications of making transfers between registered accounts
[ad_1] They’re locked in because they are intended to provide income throughout your retirement, so you are limited in how much you can withdraw…