You can fight with a Notice of Objection Taxpayers start getting tax refunds from the Canada Revenue Agency in April and May. That may be a cause for celebration. But if you get a Notice of Re-assessment, it can contain a nasty surprise, complete with demands for...
How a financial planner can help with “the money talk” There’s a lot to think about when you’re preparing to get married. And very likely, financial planning isn’t at the top of the list. That’s where a good financial planner can be invaluable. In my own practice,...
The lure of rising rates and market-linked returns Current 5-year GIC rates are being advertised as high as 3.50%. Given that most savings accounts offer much less than 1.00%, some investors have been wondering whether it’s time to move funds into GICs as part of...
A (very) short post-graduate course in personal finance Here’s a commencement speech you won’t hear at most graduation ceremonies: As a new grad, the most important lesson you’ll have to learn after leaving school is to live within your means and not spend more...
How to compare your portfolio with an index A benchmark is a market yardstick independent of your portfolio against which your performance can be evaluated. It’s usually an index that tracks the performance of the broader market, like the S&P/TSX Composite...
Seasonal patterns can be misleading “Sell in May, go away, and don’t come back till Labour Day.” With the return of volatility earlier this year after many years of an uninterrupted bull market, many analysts are warning that the stock market is due for a...
The real cost of investing in mutual funds and ETFs The way the marketing hype has it these days, you’d think investment costs have dropped to zero. What with all the do-it-yourself platforms out there hawking their black boxes and promising, at least implicitly,...
Key areas to focus on for creating a workable plan “Why even bother with family financial planning?” I’m asked that question frequently. After all, the money comes in, the money goes out. The kids have to go to some practice or other. Then there’s the grocery...
Pay no tax on investments or withdrawals The Canada Revenue Agency (CRA) confirmed that the annual contribution limit for Tax-Free Savings Accounts (TFSA) will remain unchanged at $5,500 for 2018, bringing total contribution room available since the introduction of...
They could help cut your tax bill Tax-filing season is here, and the deadline for filing your tax return is April 30. There are in fact some 94 personal tax deductions and credits available. Not all apply to everyone. And many are often overlooked, even if they do...
Know the rules before you sign on the dotted line If you’ve been shopping for a mortgage for your new home, you probably have run across something called a “stress test.” It raises the bar on your financial health a lot higher before you can qualify for a mortgage...
IPPs must follow pension rules If you are a business owner or executive, or an incorporated professional (physician, dentist, lawyer, accountant, and so on), and you’re looking to enhance your retirement savings, you might think about setting up an Individual...