Posts by Jason Heath

The article “Do Canadian Expats Have To Pay Income Tax?” was originally published on MoneySense on July 17, 2018. Taxation is based on residency, but expats coming back should watch out Q: I am Canadian citizen living in Pakistan since 2002. I have no home or family in Canada. I do not take any Canadian benefits…

The article “The Right Way To Unwind Your Locked-In Retirement Account” was originally published on MoneySense on July 10, 2018. OM is trying to formulate a plan for a locked-in retirement account. What are some LIRA best practices to consider? Q: I am at the age where I can transfer my LIRA into a LIF. What…

The article “How To Earn A Risk-Free 4% Annual Return” was originally published on MoneySense on July 3, 2018. This reader doesn’t want to put her capital at risk. But there may be a few things she hasn’t considered. Q: I am a widow with $300,000. How realistic is it for me to realize 4% a…

The article “Can You Inherit A TFSA Tax-Free?” was originally published on MoneySense on June 27, 2018. Linda wants to know if there are any tax or probate fee implications when you inherit a TFSA Q: Is the money from a TFSA tax free as an inheritance? Any probate taxes? —Linda A: As a quick refresher, Linda,…

The article “Can You Get Survivor Benefits From An Ex-Spouse?” was originally published on MoneySense on June 19, 2018. That may depend on whether you’re separated or divorced Q: Your article prompted me to think about my pension lost to my ex-wife, whom I very recently learned has died in Manitoba, in January of this year.…

The article “How Cottage Renos Can Reduce Your Capital Gains” was originally published on MoneySense on June 12, 2018. Phylis and her son own a cottage together. She wants to understand the future tax and estate planning implications. Q: My son and I have purchased property and built a cottage. I am now going to will…

The article “What To Do When Your Withholding Tax Is Too Low” was originally published on MoneySense on June 5, 2018. Kersten is worried she’ll have a big tax liability next spring Q: I retired at 55 and I am collecting my full teaching pension. I have recently accepted a full time three month teaching position.…

The article “Investment Fees You Can And Can’t Claim On Your Tax Return” was originally published on MoneySense on May 29, 2018. Patti pays fees for financial advice related to her investments and wonders if those fees are tax deductible Q: I’d like to ask a question about financial advice and counsel I receive from a…

The article “These Are The Situations When Contributing To An RRSP Isn’t Worth It” was originally published on MoneySense on May 22, 2018. Julia has a DB pension and is maxing out her TFSA. Is an RRSP worth it for her? Q: I’m a teacher of 11 years, and I’m wondering about where to invest money…

The article “How Much You Should Pay In Fees On Your Work Savings Plan” was originally published on MoneySense on May 21, 2018. Talk to your employer about lower-fee group savings options Q. I have been registered with an insurance company through my employer since 2001. At the present time, I have about $50,000 in my…