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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 RRSPs to…
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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 return. Philanthropy can be rewarding in…
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What’s Involved With An Owner Withdrawal Of Cash From A Corporation
Linda is approaching retirement with cash in her corporation. She wonders how to withdraw it before or after retirement. I work as a self-employed IT contractor. I am incorporated. Over the years I have accumulated about $100,000 in my business account, over and above what I need to carry operating…
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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 Kaboompics.com from Pexels. When capital gains are inevitable, use these strategies to reduce your tax. Tax-loss selling is the act…
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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. 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…
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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 withdrawals, too. As the beneficiary…
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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. Line of credit payments and other non-mortgage debt are factored into mortgage affordability calculations. Here’s what you need to know before filing your mortgage application. Prospective house hunters and those…
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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 payments. Should she? My husband…
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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 energepic.com from Pexels. Wilson’s new job offers a lot more money, but not the same kind of pension.…
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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 Max Vakhtbovycn from Pexels. Some British Columbia and Ontario residents could do downsizes of $1 million or more and live in comparable…
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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. When you have money saved in a corporation, retirement planning can be a little more complicated. But it can be done. Incorporated business owners can sometimes be unsure of…
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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 Artem Podrez from Pexels. It keeps track of the cash your corporation can pay out as a tax-free capital dividend Much effort is…
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