Retirement Made Easy Canada's Retirement Planning Blog
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One of the most common investment questions Canadians ask themselves today is, “Which is better, TFSA or RRSP”? There are a lot of articles, vidoes and opinions on which option is better and it’s...
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A donation given to a registered charity in Canada can be claimed as a charitable donation on your tax return. The Donation Tax Credit available after the first $200 of annual donations is effectively the top marginal tax rate in a given Province or Territory.
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Should you buy a new home when you retire? Here are 10 mistakes that are made when buing a new build.
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Borrowing to invest in an RRSP is great for someone who has trouble saving money and it offers a form of a forced saving program, because it will encourage to use the tax refund to pay of the debt and continue
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There are many things that people plan for when planning their retirement. They plan for the travel they wish to do, to have money for gifts for the grandchildren they hope to have, and...
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Seriously high levels of ‘bad’ cholesterol (LDL) represent a menacing cause of heart disease. By lowering the LDL level in your blood, you will automatically lower the total level of the cholesterol in your...
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Walk into any department store and you’ll find hundreds of beauty products lining the shelves. Each one of those products has something else, something unique to offer. Most promise to hide the signs of...
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Healthy eating and nutrition for people over 50 is greatly impacted by several factors, one of them being a change in body composition. During the later years in life, the body will lose bone...
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What is better TFSA or RRSP?What are Capital Gains or LossesOnce you have all the wheels in motion for your retirement it is often difficult to decide when is it time to retire. While...
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You’re selling your home as a FSBO (For Sale By Owner) in Ottawa and you get annoyed when real estate brokers call you, right? That’s a reasonable response when you’re doing all the work...
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Curb appeal is the key to selling a townhouse or condo. Since common areas are controlled by a homeowners’ association, paying attention to details can make all the difference. Townhouses The same rules that...
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Looking for tips to save money this tax season? Want to make sure you haven’t missed out on a tax credit? The Canada Revenue Agency has come out with some tips ahead of the...
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Understanding the difference between a tax deductions and a tax credits will help you to apply strategies and use financial tools to help reduce the taxes you pay on your retirement income. Tax Deductions...
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With a home equity loan – the ‘equity’ in your home refers to the amount you have left to repay on a mortgage subtracted from the current market value of your home. For some...
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What is probate? Probate is a process that authorizes an executor to distribute assets of a deceased’s estate. Where required, provincial governments grant this authority by issuing a probate certificate known in Ontario as...
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Tax season can be a frustrating time for Canadian small business owners, especially in a struggling economy. Although you cannot avoid income taxes completely, you may be able to reduce or defer your payments...
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The Property Transfer Tax is a tax payable to the Provincial Government by the purchasers of real estate. The tax applies to all types of real estate, whether residential, commercial or industrial. British Columbia •...
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It is tax season again and, for Canadian small business owners, that means it is time to review information about capital property transactions to determine capital gains and losses. Determining capital gains or losses...
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What To Consider When Preparing For Retirement Many people look forward to their retirement days when they can enjoy the pleasures of retired life. But they have not yet realized the importance of planning...
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Your filing income taxes deadline is April 30th, and that means that it is once again time for Canadians to start collecting tax and earnings forms and figuring out their income taxes. For many...
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Income taxes form a major portion of the annual revenues of the federal and provincial governments of Canada. Tax collection agreements allow different governments to levy taxes through a single administration and collection...
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There is a lot of talk about Donald Trump after the New York Times released his tax returns. Because of a big loss in 1995 he won’t need to pay taxes for the next...
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If you happen to have some money left over at the end of all the bill payments and you have no need for anymore toys, or even if you are beginning a prudent and...
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Canada’s finance ministers came to an agreement to make changes to the CPP. They came up with an expansion to the Canada Pension Plan to help future Canadians save for retirement. These changes happened...
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Your relative passed away at age 80 in early 2016. They never married and had no children. You are the sole beneficiary in their will. Is your inheritance taxable? It is basically the executor’s...
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Although Canada does not directly provide home-owners with tax-deductible mortgages, they do offer an investment incentive that enables Canadians to turn their mortgage into tax-deductible debt called the Smith Maneuver. Tax deductible means that...
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Seg funds vs Mutual funds Segregated funds are an annuity issued by an insurance company. They are similar to a mutual fund except for the fact that they come with capital or income guarantees as...
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In a Tax-Free Savings Account the growth is tax sheltered. Assume you invest $3,000 after-tax money annually into a TFSA and the same amount into a non-registered account. Both investments have a rate of...
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As parents, we want nothing more than for our kids to succeed. Often, we wish to give our children a “leg up” in their transition to adulthood by helping them out with larger expenses,...
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When the Tax-Free Savings Account was launched in 2009 there was a great deal of confusion on exactly what it was, how it worked and how best to use it. 5 years later and...
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DOWNLOAD PDF Momentum? Growth? Low Volatility? Is there one bias that can help Canadian plan sponsors achieve more consistent risk-adjusted returns in these volatile times? …
As the Canadian Pacific Railway locomotive moves along the tracks in Calgary, something is clearly amiss. It’s the typical size and look that you’d expect, but what’s absent is the low rumbling noise of the...
I'm currently working full time, but want to find a way to bring in some extra cash to help with bills and expenses. What's soemthing that would only take weekends or 10-15 hours a...
Hi, I bought a house alone in early 2021 for 336K with a big down payment of 150K. The current market value of the house is 375K and the remaining balance on the mortgage...
A standoff over the U.S. debt ceiling has just begun and could become the country’s most consequential political showdown over the coming months. Treasury Secretary Janet Yellen has announced that the country will hit its debt limit...
How does your account measure up? Look at the features and perks when comparing chequing accounts. 1. What’s the minimum balance requirement? Some chequing accounts have a monthly fee. Banks and other financial institutions...
Treasury Secretary Janet Yellen notified Congress on Friday that the U.S. is projected to reach its debt limit on Thursday and will then resort to “extraordinary measures” to avoid default. In a letter to...
I've been here for a few years now, moved here for my partner from Europe. It's fine, but one of the things I can't get around is why is 2 weeks PTO the minimum...
Retail struggles continue The last set of quarterly earnings reports before the big holiday season showed that, while many large retailers were setting sales records, they were also struggling to move massive amounts of...
(I've never done an "update" post before, so apologies if any formatting or something is off) Original Post here: https://www.reddit.com/r/PersonalFinanceCanada/comments/xxj3f0/comment/irj2uuy/?context=3 Figured I'd come back and give an update on this. While I was doing...
Also, taxes are not just for the living. When a person passes away, there are several tax returns to know about. And tax returns can be a complicated process on the best of days....
