Here is a collection of articles we have published so you can stay informed!
Capital Gains When Selling Property To Family
The article "Capital gains when selling property to family" was originally published in MoneySense on March 18, 2022. Photo by cottonbro from Pexels. If you sell a property to a relative for a bargain price, does that mean you pay less tax for capital gains? Do I have...
Should You Start OAS If You Are Still Working?
The article "Should you start OAS if you are still working?" was originally published in MoneySense on March 17, 2022. Photo by Tim Mossholder from Pexels. Not retired yet? Wondering about applying for Old Age Security? Here are the things to consider first. I’m...
Understanding The 1994 Capital Gains Tax Election
The article "Understanding the 1994 capital gains tax election" was originally published in MoneySense on March 14, 2022. Photo by Abby Savage on Unsplash. There is a $100,000 capital gains exemption that applied until 1994. Find out if it can be used to reduce the...
Can I Save Tax By Transferring An Investment Property To A Corporation?
The article "Can I save tax by transferring an investment property to a corporation?" was originally published in Financial Post on March 11, 2022. Photo by ERNEST DOROSZUK/TORONTO SUN/POSTMEDIA FILES. The potential transfer of the property presents an opportunity to...
Capital Gains On Subdivided Land, And HST On Vacant Land
The article "Capital gains on subdivided land, and HST on vacant land" was originally published in MoneySense on March 10, 2022. For property that you can subdivide, you can sell some of the land and build a house on the rest. But would you owe any tax? Our primary...
Principal Residence Exemption On Death And Capital Gains With Joint Tenancy
The article "Principal residence exemption on death and capital gains with joint tenancy" was originally published in MoneySense on March 9, 2022. Photo by Anastasia Shuraeva from Pexels. There are rules around capital gains on the sale of joint property in Canada....
For Certified Financial Planner, Lifetime Of Struggle Holds Lessons For Others
The article "For certified financial planner, lifetime of struggle holds lessons for others" was originally published in Wealth Professional on March 8, 2022. International Women's Day: CFP reflects on life-changing tragedy and how she took financial control This...
What Happens To Your TFSA When You Die
The article "What happens to your TFSA when you die" was originally published in MoneySense on March 7, 2022. Photo by Pavel Danilyuk from Pexels. This is how a TFSA gets distributed in the event of a death, plus, info on making sure it is not subject to probate. I...
The Ins and Outs (and Pitfalls) Of Borrowing From Your Own Company
The article "The ins and outs (and pitfalls) of borrowing from your own company" was originally published in Canadian Family Offices on March 4, 2022. Photo by GETTY IMAGES. How to extract money from your corporation while avoiding tax complications Shareholders who...
The Ins and Outs (and Pitfalls) Of Borrowing From Your Own Company
The article "The ins and outs (and pitfalls) of borrowing from your own company" was originally published in Canadian Family Offices on March 4, 2022. Photo by GETTY IMAGES. How to extract money from your corporation while avoiding tax complications Shareholders who...
Should You Leave Corporate Savings In Your Company?
The article "Should you leave corporate savings in your company?" was originally published in MoneySense on March 1, 2022. Photo by Mikhail Nilov from Pexels. Chris has a lot of money saved in his corporate bank account and wants to take it out with the least amount...
Calculating Expected Returns On The Sale Of Real Estate
The article "Calculating expected returns on the sale of real estate" was originally published in MoneySense on February 25, 2022. Photo created by freepik - www.freepik.com. Yan is selling his home and wants to know how to price it to ensure he turns a profit. How do...
Business Owners, You Can – And Likely Should – Be Growing Your Corporate Savings
The article "Business owners, you can – and likely should – be growing your corporate savings" was originally published in Canadian Family Offices on February 24, 2022. Photo by GETTY IMAGES. Cash can be invested in stocks, funds or real estate and grow inside the...
Business Owners, You Can – And Likely Should – Be Growing Your Corporate Savings
The article "Business owners, you can – and likely should – be growing your corporate savings" was originally published in Canadian Family Offices on February 24, 2022. Photo by GETTY IMAGES. Cash can be invested in stocks, funds or real estate and grow inside the...
Cutting Down Capital Gains Tax On Real Estate Sales
The article "Cutting down capital gains tax on real estate sales" was originally published in MoneySense on February 23, 2022. Photo by Mart Production from Pexels. Defer RRSP contributions to mitigate taxes Is there any real estate investment I could invest my...
The RRSP Has Fallen From Grace, But There Are Still Plenty Of Good Reasons To Contribute
The article "The RRSP has fallen from grace, but there are still plenty of good reasons to contribute" was originally published in Financial Post on February 22, 2022. PHOTO BY CHLOE CUSHMAN/NATIONAL POST ILLUSTRATION FILES. Jason Heath: Savers who ignore the RRSP's...
Corporate Investments For Retirees
The article "Corporate investments for retirees" was originally published in MoneySense on February 15, 2022. Photo by Andrea Piacquadio from Pexels. Retired with cash and investments in a corporation, and wondering how to withdraw with minimal tax implications? I’m...
How To Find A Lost Life Insurance Policy
The article "How to find a lost life insurance policy" was originally published in MoneySense on February 8, 2022. Photo by Sofia Alejandra from Pexels. A death in the family is always stressful, but money can make it more so. Here’s expert advice for rights to a lost...
The Process Of Unlocking A LIRA Account In Canada
The article "The process of unlocking a LIRA account in Canada" was originally published in MoneySense on February 1, 2022. Photo by cottonbro from Pexels. What can you do? What can’t you do? Let’s clarify some conflicting online information about locked-in retirement...
Four Key Things To Consider If You Are Planning To Retire This Year
The article "Four key things to consider if you are planning to retire this year" was originally published in Financial Post on February 1, 2022. PHOTO BY GETTY IMAGES/ISTOCKPHOTO FILES. When should you start CPP? What's the best RRIF strategy? Here's how to choose...
Do You Pay Capital Gains Tax When Separating or Divorcing?
The article "Do you pay capital gains tax when separating or divorcing?" was originally published in MoneySense on January 24, 2022. Photo by Ketut Subiyanto from Pexels. Concerned about the potential capital gains tax implications of a principal residence after a...
How Do The RRSP Contribution Carry Forward Rules Work?
The article "How do the RRSP contribution carry forward rules work?" was originally published in MoneySense on January 17, 2022. Photo by SHVETS production from Pexels. What are the rules about RRSP carry forwards? Should you ever contribute the full amount? If I have...
Should You Apply For OAS Even If You Have A High Income?
The article "Should you apply for OAS even if you have a high income?" was originally published in MoneySense on January 13, 2022. Photo by Mart Production on Pexels. If you are a high-income senior whose Old Age Security would be fully clawed back, find out if you...
Principal Residence Exemption: Would A Senior Get A Tax Credit For Selling Their House If They Move Out?
The article "Principal residence exemption: Would a senior get a tax credit for selling their house if they move out?" was originally published in MoneySense on January 5, 2022. Photo by Georg Arthur Pflueger on Unsplash. Sometimes, seniors must move out of their...
Why Cash Isn’t Always The Best Gift, Especially When It Comes To Your Kids
The article "Why cash isn't always the best gift, especially when it comes to your kids" was originally published in Financial Post on December 29, 2021. PHOTO BY FRANCIS RACINE/CORNWALL STANDARD-FREEHOLDER/POSTMEDIA NETWORK FILES. Instead of giving your children a...
How To Leave Money To Your Grandkids
The article "How to leave money to your grandkids" was originally published in MoneySense on December 28, 2021. Photo by Ekaterina Shakharova on Unsplash. In my experience, most people leave their entire estate to their children. But you can name other people to...
CPP vs RRSP: Can You Transfer Your CPP To An RRSP?
The article "CPP vs RRSP: Can you transfer your CPP to an RRSP?" was originally published in MoneySense on December 20, 2021.Photo by Karolina Grabowska from Pexels. Is it possible to transfer CPP to RRSP? The answer is a quick one, but there’s more to an CPP and...
What Are The Tax Benefits Of Donating To Charity?
The article "What are the tax benefits of donating to charity?" was originally published in MoneySense on December 14, 2021.Photo by RODNAE Productions from Pexels. ’Tis the season for giving and some may be wondering how donating to charity saves tax on your tax...
What’s Involved With An Owner Withdrawal Of Cash From A Corporation
The article "What’s involved with an owner withdrawal of cash from a corporation" was originally published in MoneySense on December 6, 2021. Photo by Anna Shvets from Pexels. Linda is approaching retirement with cash in her corporation. She wonders how to withdraw it...
A Deep Dive Into The ‘Strategic’ Capital Gain And Loss Planning You Should Do This Year
The article "A deep dive into the 'strategic' capital gain and loss planning you should do this year." was originally published in Financial Post on December 3, 2021. PHOTO BY GETTY IMAGES. When capital gains are inevitable, use these strategies to reduce your tax....
How To Invest As A Teenager In Canada
The article "How to invest as a teenager in Canada" was originally published in MoneySense on November 29, 2021. Photo by Creative Christians on Unsplash. Birthday money burning a hole? Read our "investing for teens" guide for where to invest, how to buy...
Do RRIF Beneficiaries Pay Tax?
The article "Do RRIF beneficiaries pay tax?" was originally published in MoneySense on November 22, 2021. Photo by Polina Tankilevitch from Pexels. Is it possible to avoid tax as a RRIF beneficiary? Find out if timing could be an issue, as well as rules around...
Could A Line Of Credit Impact My Mortgage Application?
The article "Could a line of credit impact my mortgage application?" was originally published in MoneySense on November 16, 2021. Photo by Sarandy Westfall on Unsplash. Line of credit payments and other non-mortgage debt are factored into mortgage affordability...
Should You Take RRSP Withdrawals To Pay Down Debt?
The article "Should you take RRSP withdrawals to pay down debt?" was originally published in MoneySense on November 9, 2021. Photo by Mikhail Nilov from Pexels. With a partner out of work, this reader is considering a RRSP withdrawal to try to reduce her mortgage...
FP Answers: What Effect Will Changing Employers Have On My Investment Strategy?
The article "FP Answers: What effect will changing employers have on my investment strategy?" was originally published by Julie Cazzin with Brenda Hiscock, on November 5, 2021 in Financial Post. PHOTO BY GETTY IMAGES/ISTOCKPHOTO FILES. Wilson's new job offers a lot...
Surging Real Estate Wealth Is A Golden Opportunity For Some To Accelerate Retirement Plans
The article "Surging real estate wealth is a golden opportunity for some to accelerate retirement plans" was originally published in Financial Post on November 2, 2021. PHOTO BY GIGI SUHANIC/NATIONAL POST ILLUSTRATION. Some British Columbia and Ontario residents could...
How To Draw Money Out Of Your Corporation In Retirement
The article "How to draw money out of your corporation in retirement" was originally published in MoneySense on November 2, 2021. Photo by Maria Lupan on Unsplash. When you have money saved in a corporation, retirement planning can be a little more complicated. But it...
Business Owners, Don’t Neglect Your CDA Account – It’s A Beautiful Thing
The article "Business owners, don’t neglect your CDA account – it’s a beautiful thing" was originally published in Canadian Family Offices on October 29, 2021. Photo by GETTY IMAGES. It keeps track of the cash your corporation can pay out as a tax-free capital...
Business Owners, Don’t Neglect Your CDA Account – It’s A Beautiful Thing
The article "Business owners, don’t neglect your CDA account – it’s a beautiful thing" was originally published in Canadian Family Offices on October 29, 2021. Photo by GETTY IMAGES. It keeps track of the cash your corporation can pay out as a tax-free capital...
Affordability Tips For First-Time Home Buyers To Securing A Mortgage
The article "Affordability tips for first-time home buyers to securing a mortgage" was originally published in MoneySense on October 28, 2021. Photo by Jessica Bryant via Pexels. Irene and her partner want to buy a house with savings, some help from her dad and a...
Reasons To Consider Early RRSP And RRIF Withdrawals
The article "Reasons to consider early RRSP and RRIF withdrawals" was originally published in MoneySense on October 19, 2021. Photo by Mikhail Nilov from Pexels. I get a lot of reader-submitted questions about early RRSP and RRIF withdrawals and how much to take out....
Joint Tenancy Vs Tenancy In Common in Canada: Changing Ownership Of Assets For Married And Common-Law Partners
The article "Joint tenancy vs tenancy in common in Canada: Changing ownership of assets for married and common-law partners" was originally published in MoneySense on October 14, 2021. Photo by cottonbro from Pexels. The tax implications of changing land owned jointly...
How Much To Take Out Of Your RRSP In Your 60s
The article "How much to take out of your RRSP in your 60s" was originally published in MoneySense on October 4, 2021. Photo by Marcus Aurelius from Pexels. Although RRSP withdrawals can be deferred no later than age 72, it may be necessary or advisable to make...
How To Figure Out Your Investment Fees
The article "How to figure out your investment fees" was originally published in MoneySense on September 28, 2021. Photo by Andrea Piacquadio from Pexels. John is unclear about what he’s paying his advisor, and cannot seem to get a straight answer. Q. I was wondering...
Financial Gifts: What You Need To Know Before Giving Money Or Investments
The article "Financial gifts: What you need to know before giving money or investments" was originally published in MoneySense on September 21, 2021. Photo by Marcus Aurelius from Pexels. We humans are wired for generosity: we feel joy and satisfaction when we give to...
What To Expect (Financially) When You’re Expecting
The article "What to expect (financially) when you're expecting" was originally published in Financial Post on September 20, 2021. PHOTO BY CHLOE CUSHMAN/NATIONAL POST ILLUSTRATION FILES New parents have a lot to learn and these financial considerations can help...
How To Avoid OAS Clawback When You’ve Had A Temporary Increase In Income
The article "How to avoid OAS clawback when you’ve had a temporary increase in income." was originally published in MoneySense on September 14, 2021. Photo by yerling villalobos on Unsplash. A one-time bump in Sam’s income triggered an Old Age Security benefit...
Incorporated Business Owners: Should You Pay Yourself A Salary?
The article "Incorporated business owners: Should you pay yourself a salary?" was originally published in MoneySense on September 8, 2021. Photo by fauxels from Pexels. If you own an incorporated business, you can pay yourself a salary—but sometimes it’s the wrong...
How To Minimize Tax And Maximize Impact When Passing Your Savings To The Next Generation
The article "How to minimize tax and maximize impact when passing your savings to the next generation" was originally published in Financial Post on August 30, 2021. PHOTO BY CHLOE CUSHMAN/NATIONAL POST ILLUSTRATION FILES. Jason Heath: If you have more money than...
Transferring Employer Pensions To LIRAs, LIFs and RRSPs
The article "Transferring employer pensions to LIRAs, LIFs and RRSPs?" was originally published in MoneySense on August 30, 2021. Photo by Pavel Danilyuk from Pexels. Q. I have a new LIRA valued at $102,500 from leaving an old employer. Can I transfer this money to a...
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