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[ad_1] While some financial advisors recommend the 50-30-20 rule, where 50% of your pay goes to fixed expenses, 30% to discretionary and 20% to savings, putting...
[ad_1] RESP 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...
[ad_1] Investment Investment account Purchase price Sale price Gain Capital gains tax After-tax gains Bitcoin Non-registered $23,500 $61,000 $37,500 $3,750 $33,750 Bitcoin ETF TFSA $23,500 $61,000...
[ad_1] The difficulties facing newcomers to Canada with respect to retirement planning are particularly acute. Given how Canada’s immigration points system works, economic immigrants are usually...
[ad_1] “If someone’s not lucky enough to have a company pension, it’s that much more crucial for them to be building up savings on their own,”...
[ad_1] Working as a financial planner, I am often asked, “What is the most tax-efficient way to draw down on investments?” From the outset, I question...
[ad_1] It’s not as big a problem as you might think. The key is to try to mimic the pay-yourself-first approach by setting up an automatic...
[ad_1] Earlier this year, the HBP got a significant makeover. Here’s what’s new about the HBP, plus how you can use it together with other savings...
[ad_1] Can 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...
[ad_1] 10 ways to use your tax refund How you choose to spend your tax refund will often boil down to your tax bracket and debt...
[ad_1] Are you on track, or are you playing catch up? For some Canadians, that may feel like plenty of time to ramp up their retirement...
[ad_1] 17. 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...
[ad_1] In other words, during the near-zero interest rates that prevailed until recently, investors wanting real inflation-adjusted returns had almost no choice but to embrace stocks. (Read...
[ad_1] In addition, holding cash can mean missing out on the magic of compounding—and the turbo-boost of growing an investment inside a tax-free savings account (TFSA)....
[ad_1] Should 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...
[ad_1] Return to top. Prepping your taxes, including the 2022 tax brackets Even if someone else does your taxes, you still have some prep to do....
[ad_1] How cashable GICs work Traditionally, GICs offer Canadian investors three core benefits: Principal protection to ensure your money remains safely invested A guaranteed interest rate...
[ad_1] Both types of investments are subject to tax in your taxable accounts, like non-registered or corporate accounts. Tax-free savings accounts (TFSAs) are tax-free, so you...
[ad_1] First, it bears mentioning that wills typically provide discretion to the trustees to sell, call in or convert into cash any part of an estate...
[ad_1] A corporation’s investment income is generally taxable at between about 47% and about 55%, depending on the corporation’s province of residence. This includes interest, foreign...