Posts by Jason Heath

The article “Can you use the Home Buyers’ Plan to buy a foreign property?” was originally published in MoneySense on March 13, 2023 . Photo by Ryutaro Tsukata from Pexels. Find out if you can use the RRSP home-buying program to purchase foreign property and the tax implications that come with it. “I am looking…

The article “The benefits and flexibility of family RESPs” was originally published in MoneySense on March 10, 2023 . Photo by Pexels. Grants and growth can be allocated amongst any beneficiaries of the plan “Can you write an article on how family RESPs work once the oldest children start to take money out of the…

Birthday money burning a hole? Read our “investing for teens” guide for where to invest, how to buy stocks, what you need from your parents, and more. If you’re starting to save the money you’ve received from birthdays, holidays and part-time jobs, you may be wondering how you can invest your savings. An important life…

The article “How do the RRSP contribution carry forward rules work?” was originally published in MoneySense on March 10, 2023 . Photo by SHVETS production from Pexels. What are the rules about RRSP carry forwards? Should you ever contribute the full amount? “If I have $25,000 contribution room left in my RRSP, can I take…

The article “Should you withdraw from non-registered or TFSA investments in retirement?” was originally published in MoneySense on March 8, 2023 . Photo by Greta Hoffman from Pexels. When starting to draw down your investments in retirement, should you sell your non-registered or TFSA stocks, or both? “I have stocks in my TFSA as well…

The article “Is now the time for retirees to sell stocks and buy GICs?” was originally published in MoneySense on March 3, 2023 . Photo by Mikhail Nilov from Pexels. Many people near or in retirement are worried about stock market volatility. Does it really make sense to put everything into GICs? “My husband is…

The article “Triggering losses by transferring investments to a TFSA” was originally published in MoneySense on March 1, 2023 . Photo by Jonas Leupe on Unsplash. Stavros is worried that contributing an investment in kind to his TFSA will trigger the “superficial loss rule.”  Q. I just transferred 200 shares of an ETF from my margin account…

The article “A strategy for non-registered and TFSA accounts in retirement” was originally published in MoneySense on March 1, 2023 . Photo by Felicity Tai from Pexels. Between a TFSA and non-registered accounts, what is the most tax-effective way to withdraw to fund retirement? “I’ve got approximately $500,000 in non-registered investments. My TFSA is maxed…

The article “Should you sell investments at a loss to pay off debt?” was originally published in MoneySense on February 27, 2023 . Image by shurkin_son on Freepik. When paying a high interest rate on debt, does it make sense to sell investments that have fallen before their value has been recouped? “I invested $60,000…

The article “Who to name as executor when family members aren’t an option?” was originally published in MoneySense on February 21, 2023 . Photo by Cottonbro Studio from Pexels. It’s not always possible or beneficial to name a family member or close friend as executor in your will. Here’s when you should consider a professional…

The article “Are spousal and child support payments taxable?” was originally published in MoneySense on February 13, 2023 . Photo by Cottonbro Studio from Pexels. Spousal and child support payments are taxed differently. And lump-sum payments may come with their own tax implications. “I received a lump sum payment from my ex-husband, as stated in…