The hidden snag in non-registered accounts If a non-registered account is held individually, it doesn’t automatically pass to a surviving spouse. Instead, it becomes part of the estate…
Read more Individual vs. joint investment accounts: What every couple should know – MoneySenseChalk that up as a win for Canadians. Between the tax-free savings account (TFSA), registered retirement savings plan (RRSP), and first home savings account (FHSA), Canadians have ample…
Read more Which ETFs are the most tax-efficient for Canadian investors? – MoneySenseRESP contributions and withdrawals Registered education savings plans (RESPs) are used to save for a child’s post-secondary education. Contributing to an RESP can give you access to government…
Read more Year-end tax and financial planning considerations – MoneySense17. 2018: Transitioning to more protectionist policies, the United States initiated a renegotiation of the North American Free Trade Agreement (NAFTA)—brought into force in 1994. The Canadian government…
Read more 25 personal finance highlights from the last 25 years – MoneySenseIf the RRIF is not set up this way, there will be immediate tax consequences, and the estate wishes of your husband may not play out as intended.…
Read more What happens to a RRIF when the account owner dies? – MoneySenseThe 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…
Read more RESPs 101: The RESP withdrawal rules – MoneySenseCan you hold gold in a registered account? Gold is considered a qualified investment for registered accounts in Canada, Audrey. This means you can hold gold in a…
Read more Should you hold gold in a RRIF? – MoneySenseRESP contributions grow tax-deferred and are eligible for government grants and bonds. Withdrawals are partially taxable and partially tax-free. The taxable portion can be taxed to the post-secondary…
Read more When and how to transfer an RESP for grandchildren – MoneySenseTypes of investing accounts In Canada, there are two types of investment accounts: registered and non-registered. Registered accounts are filed with the Canada Revenue Agency (CRA), the governmental…
Read more Buying your first stocks in Canada – MoneySenseCan you transfer a RRIF to a TFSA? A RRIF is a tax-deferred account. A TFSA is a tax-free account. So, you cannot do a direct transfer between…
Read more Can you transfer a RRIF to a TFSA—and what are the tax implications? – MoneySenseThe new capital gains inclusion rate There has been speculation in recent years about an increase in the capital gains inclusion rate. Currently, one-half of a capital gain…
Read more Federal Budget 2024: How it will affect Canadians’ finances and taxes – MoneySense17. 2011: Google released Google Wallet in the U.S., three years before Apple Pay even popped up on our iPhones. Over the next decade, Google tested many versions…
Read more Top financial innovations of the last 25 years – MoneySenseShould Canadian non-residents keep their TFSAs? Tax-free savings accounts (TFSAs) can remain tax-free for a non-resident of Canada—at least from a Canadian perspective. If a foreign country taxes…
Read more Should Canadians keep their investment accounts when retiring abroad? – MoneySenseWhile saving for retirement is a top priority for half of employed Canadians, many of us (44%) did not actually set aside money for it in the past…
Read more The best way to save for retirement in your 20s – MoneySenseThe 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…
Read more Contributing to your grandchild’s RESPs: What grandparents need to know – MoneySenseFirst, a quick refresher on these registered accounts: RESPs provide a tax-advantaged way to invest in your children’s or grandchildren’s future education. Contributions to an RESP account and…
Read more Are RESP contributions tax-deductible? – MoneySenseFortunately, there are a number of ways to save for a down payment on your first home, including the first home savings account (FHSA). This registered account was…
Read more Your FHSA timeline: What to invest in and when – MoneySenseOnce 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? – MoneySenseReal estate prices in Canada: investment or debt? I also worry that people may have too much confidence that real estate prices will continue to grow at high…
Read more Should you hold your mortgage inside your RRSP? – MoneySense
