How to unwind a spousal loan
Prescribed rate The prescribed rate is determined by the Canada Revenue Agency (CRA) each quarter and applies to loans made during that quarter. The current interest rate used…
Read more How to unwind a spousal loanTag: Family finances
Alberta Child and Family Benefit payment dates in 2026 – MoneySense
The ACFB was introduced in July 2020, consolidating the Alberta Child Benefit and the Alberta Family Employment Tax Credit into a single program. The ACFB aims to improve…
Read more Alberta Child and Family Benefit payment dates in 2026 – MoneySenseHow much are Canadian families (really) spending on extracurricular activities—and can they afford it? – MoneySense
“Unfortunately, they ended up liking it,” Christine jokes. As her daughters got older, they signed up for additional dance classes. Fees increased over time and two years ago,…
Read more How much are Canadian families (really) spending on extracurricular activities—and can they afford it? – MoneySense
Don’t squander your legacy – MoneySense
The essential guide to inheritance planning Neglecting to plan your inheritance is a bit like leaving your garden unattended for a few seasons. What starts as a minor…
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Tax implications of adding a child’s name to your rental property – MoneySense
Gifting some or all of a rental property The act of adding a name to a property itself does not give rise to capital gains tax. There’s a…
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RESPs 101: The RESP withdrawal rules – MoneySense
The perks of having an RESP The RESP was first introduced in 1974 as a tax-deferred savings vehicle for a child’s post-secondary education. While it’s typical for parents…
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Why are vets so expensive? – MoneySense
The joys of these animal companions, however, don’t come cheap: pet care costs have increased 6% to 8% annually over the past few years. On average, dog owners…
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How the $10-a-day child care program can affect your taxes – MoneySense
Understanding the tax impact of more affordable care Here’s the problem: your child-care expense deduction will decrease if you pay less to your child-care provider. As a result,…
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Grocery inflation in Canada: New report for spring 2024 – MoneySense
Spring 2024 outlook on grocery food inflation for Canada The outlook for food and beverage manufacturers this year is more positive than last year, FCC said, though some…
Read more Grocery inflation in Canada: New report for spring 2024 – MoneySense
What happens if your child care provider pulls out of $10-a-day daycare? – MoneySense
While imperfect, the $10-a-day system has been widely applauded for making child care more affordable and equitable for more Canadians. And it looks like it’s here to stay,…
Read more What happens if your child care provider pulls out of $10-a-day daycare? – MoneySense
How to talk to your parents about crypto – MoneySense
While younger investors tend to be more optimistic about and willing to invest in crypto, according to the Chartered Financial Analyst (CFA) Institute, their family members may have…
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Amid the many problems with the new FAFSA, ‘every student’ should appeal for more financial aid, one expert says
PeopleImages | E+ | Getty Images Above all else, the new Free Application for Federal Student Aid was designed to improve college access. However, problems with the rollout have…
Read more Amid the many problems with the new FAFSA, ‘every student’ should appeal for more financial aid, one expert says
Is an RESP worth it? Yes, even if only for the government grants – MoneySense
Why open an RESP? Grants and tax-deferred growth The federal government introduced the RESP nearly 50 years ago to help families save for their kids’ post-secondary education. The…
Read more Is an RESP worth it? Yes, even if only for the government grants – MoneySense
Divorce and life insurance: How to make sure your family stays protected – MoneySense
When it comes to life insurance, specifically, reviewing and potentially updating policy and beneficiary information should be the first step post-divorce. Most people who are married name their…
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Three reasons why a will and estate plan mean true love – MoneySense
1. The gift of security Love also means security. Yet, surprisingly, half of Canadians don’t have a will, according to a 2023 Angus Reid poll. Having a one…
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Tens of thousands of workers were laid off in January. If you were affected, here’s how you may find work faster
Skynesher | E+ | Getty Images New government data shows a surprisingly strong job market for the month of January. But there are signs of weakness in the…
Read more Tens of thousands of workers were laid off in January. If you were affected, here’s how you may find work faster
Married with money: How to combine finances with your partner – MoneySense
Whether you’re planning to cohabitate or you’re already living together and are starting to plan financial goals, here are some tips on bringing your money together. Talk about…
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Why can’t today’s young adults leave the nest? Blame high housing costs
These days, housing affordability is a struggle for nearly everyone. But for young adults just starting out, soaring home prices and sky-high rents have become one of the greatest…
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Contributing to your grandchild’s RESPs: What grandparents need to know – MoneySense
The best way to save for school: Open an RESP Ideally, your grandchild or grandchildren will have an RESP. Perhaps your own kids have already opened one for…
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You opened an RESP—now what? – MoneySense
Once you’ve opened an RESP for your (grand)child or (grand)children, though, what should you do with it? How often and how much to contribute to an RESP Ideally,…
Read more You opened an RESP—now what? – MoneySense