Finance
Financial planning for the first time? A guide for women on a single income – MoneySense
[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…
Tag: TFSAs
Finance
Year-end tax and financial planning considerations – MoneySense
[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…
Finance
How to invest tax-free in a bitcoin ETF in Canada – MoneySense
[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…
Finance
New to Canada and no pension: How to save for your retirement – MoneySense
[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…
Finance
How to manage as a single parent with no pension – MoneySense
[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…
Finance
Which savings should retirees draw down first? – MoneySense
[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,…
Finance
40 and no pension: What do you do? – MoneySense
[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…
Finance
How changes to the Home Buyers’ Plan could affect your down payment – MoneySense
[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…
Finance
Can you transfer a RRIF to a TFSA—and what are the tax implications? – MoneySense
[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…
Finance
How long it takes to get your tax refund in Canada—and how to spend your refund – MoneySense
[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…
Finance
How to start saving for retirement at 45 in Canada – MoneySense
[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…
Finance
Top financial innovations of the last 25 years – MoneySense
[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…
Finance
Are GICs worth it for Canadian retirees? – MoneySense
[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…
Finance
Using ETFs to get the most out of your TFSA contribution room – MoneySense
[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…
Finance
Should Canadians keep their investment accounts when retiring abroad? – MoneySense
[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.…
Finance
2022 Income Tax Guide for Canadians: Deadlines, tax tips and more – MoneySense
[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…
Finance
What is a cashable GIC? – MoneySense
[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…
Finance
How to file your taxes when you own ETFs – MoneySense
[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,…
Finance
How to divide the assets of an estate between beneficiaries – MoneySense
[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…
Finance
How is passive income taxed in Canada? – MoneySense
[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…