The article "Why It’s Still Worth It For High-Income Seniors To Apply For OAS" was originally published on MoneySense on January 8, 2019. Eileen is worried about the adverse impact on her taxes if she applies for OAS, and wonders if she should still apply. Q: I am 70...

The article "The Limits of Old Age Security Survivor Benefits" was originally published on MoneySense on January 2, 2019. Lillian lost her husband and wants to know what happens to his Old Age Security pension. Q: My husband died in 2015 at the age of 56. He would...

The article "What’s The Best Time To Transfer A TFSA Between Institutions?" was originally published on MoneySense on December 27, 2018. Sandie wants to get the timing of her TFSA transfer right If you decide to change institutions for your TFSA, when is the best...

The article "The Downside Of Naming Children As RRIF Beneficiaries" was originally published on MoneySense on December 18, 2018. Kerry is doing some estate planning with his RRIF and wants to make sure it goes to his wife and kids in the best possible manner....

The article "Can You Transfer Your Full Pension Into An RRSP?" was originally published on MoneySense on December 11, 2018. Margaret wants to know how to avoid losing some of her pension if she transfers it into an RRSP at retirement. Q: I would like to know if you...

The article "RRIFs And Income Splitting In The Year Of Death" was originally published on MoneySense on December 4, 2018. Gloria’s husband died recently. She’s looking for clarification on what happens with his RRIF and if and how she can split income with him in his...

The article "RESPs and Canadian Non-Residency" was originally published on MoneySense on November 27, 2018. Cara and her family are becoming non-residents of Canada. They want to know what this means for their RESP account. Q: We are moving overseas to New Zealand....

The article "Selling Your Home To Your Kids - For $1" was originally published on MoneySense on November 20, 2018. You need to consider if the savings for your child are worth the risk to you Q: I want to pass my principal residence where my son and I live to my son...

The article "Bleeding Your RRSP Dry To Save On Tax When You’re Dead" was originally published on MoneySense on November 13, 2018. Chris is retiring and living on CPP, OAS and her RRSP. She wonders if she should take more than the minimum withdrawal from her RRSP to...

The article "Leaving An Inheritance For Your Grandchildren" was originally published on MoneySense on November 7, 2018. Dan’s mother wants to use some of the proceeds from her home sale to help her young grandchildren save for their future Q: My mother has just sold...

The article "How Low-Income, Single Seniors Can Plan For Retirement" was originally published on MoneySense on October 31, 2018. Diane is worried about the prospect of retiring on her own especially given her limited ability to save Q: I am a 52-year old divorced lady...

The article "Should You Incorporate A Business To Save On Taxes?" was originally published on MoneySense on October 23, 2018. Only if you can justify the initial and ongoing costs Q: I was recently let go from my job and am planning on starting a handyman business. I...

The article "Drawing Down Retirement Savings As A Single Senior" was originally published on MoneySense on October 16, 2018. What to do with pensions, RRSPs, TFSAs, CPP and OAS as a solo retiree Q: As I approach the early days of my retirement, I am considering...

The article "How To Decide When To Convert RRSPs To RIFFs" was originally published in MoneySense on October 9, 2018. Bart has three RRSP accounts and wants to know how his RRIF withdrawals are calculated Q: I have several (three) RRSPs, partially resulting from...

The article "TFSA vs RRSP: How To Decide Between The Two" was originally published on MoneySense on October 2, 2018. Here are five factors to consider when making your choice Q: I have a question about RRSPs and TFSAs. My average income is $100,000. Which account I...

The article "How To Help A Parent Invest In Their 80s" was originally published on MoneySense on September 25, 2018. Beth is trying to help her mother decide what to do with the sale proceeds of her house Q: My elderly mother, 83, just sold the family home for...

The article "Tax Withholding On RRIF Withdrawals" was originally published on MoneySense on September 18, 2018. Bob is concerned about the tax withholding on his RRIF withdrawals. He’s not sure he’s drawing down his investments properly. Q: I am a widower, 80 years...

The article "Should You Buy Real Estate Just To Stay In The Market?" was originally published on MoneySense on September 11, 2018. Face it. There are plenty of other better options. Q: I just sold an estate home in the Greater Toronto Area very recently and decided to...

The article "Do You Really Need An RRSP To Retire?" was originally published on MoneySense on September 5, 2018. Riza is worried about retiring without an RRSP. But do you even need one? Q: What will happen if I retire and I don’t have an RRSP? —Riza A: The Registered...

The article "Is It Okay To Retire With Debt?" was originally published on MoneySense on August 28, 2018. Steve has debt but also has a generous DB pension. Should he retire? Q: I am eligible for retirement at age 57, as I have 30 years of service. I am now...

The article "‘I’ve Been Named An Executor. Where On Earth Do I Start?!’" was originally published on MoneySense on August 21, 2018. Executor duties can be overwhelming. Where do you start? Here’s advice. Q: We just placed my 99-year old bachelor uncle off his farm and...

The article "Are RRSP Contributions Worth It At Age 70?" was originally published on MoneySense on August 14, 2018. Q: We are a retired couple getting very close to converting RSPs to a RIF (my husband has one more year). We have a substantial capital gain to report...

The article "Investments To Use For A Down Payment On A House" was originally published on MoneySense on August 8, 2018. RRSP or TFSA? Likely, it’ll be both Q: My son has money in an RRSP (mutual fund) and TFSA (cash sitting in account) and he buys a condo this year....

The article "Simplify Your Investments To Save On Estate Tax" was originally published on MoneySense on August 1, 2018. William wants to plan his estate so that it is as seamless as possible for his children when he passes away Q: I am a 72-year old divorced male with...

The article "Can You Receive CPP Benefits From Two Partners?" was originally published in MoneySense on July 24, 2018. Twice the split CPP? It’s possible, to an extent. Q: Can I get CPP from a common law partner if he dies, even though I receive CPP from a divorced...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

The article "Work Abroad? Your Income Is Fair Game For The CRA." was originally published on MoneySense on May 8, 2018. To avoid this, you need to break ties with Canada Q: I am a permanent resident of Canada. I live here with my kids. My husband works in Dubai. He is...

The article "Spouses and Stocks: Is There A Way To Avoid Tax When Transferring Assets?" was originally published on MoneySense on May 17, 2018. Beware of spousal attribution Q: I have a non-registered discount brokerage account containing stocks and mutual funds. If I...

The article "Should I Raid My RRSP To Pay Off My Line Of Credit?" was originally published on MoneySense on May 6, 2018. It’s tempting to cash out RRSPs but watch out for the tax bite Q. My wife and I currently have a mortgage of $297,000. On top of that we’ve had to...

The article "How To Reinstate OAS After It’s Clawed Back" was originally published on MoneySense on May 1, 2018. There is a form to fill out, but it’s entirely optional Q: My father’s OAS was completely clawed back last year because his net income for 2016 was well...

The article "The Benefits And Flexibility Of Family RESPs" was originally published on MoneySense on April 25, 2018. Grants and growth can be allocated amongst any beneficiaries of the plan Q: Can you write an article on how family RESPs work once the oldest children...

The article "Why Incorporation Isn’t Always A Magical Tax Fix" was originally published on MoneySense on April 18, 2018. Sandie’s wife has a small business she plans to run for the next few years. Is she better off incorporating her business or not?   Q: My wife...

The article "Should We Take Dad’s Money Now To Avoid Probate?" was originally published on MoneySense on April 10, 2018. Hold your horses! It’s not your money just yet… Q: My mom just passed away. Everything went to my dad. My sister and I are trying to decide if we...

The article "Avoiding Tax And Probate When Passing Down A Rental Property" was originally published on MoneySense on April 3, 2018. Putting a child on the title of a rental house could be like playing a game of whack-a-mole Q: My husband and I would like to put my son...