The article “Can an estate contribute to an RESP account?” was originally published in MoneySense on December 20, 2022. Photo by Ketut Subiyanto form Pexels. Here’s what you need to know before deciding to leave money in trust for an RESP account after your death. “Can money left in a…

The article “How to start investing with ETFs in your 20s?” was originally published in MoneySense on December 15, 2022. Photo by Andrea Piacquadio from Pexels. Learning about investing in your 20s can be as fun as it is challenging. Here are some thought-starters. “I want to help my 20-year-old…

The article “Do you pay withholding tax on U.S. ETFs?” was originally published in MoneySense on December 13, 2022. Photo by Andrea Piacquadio from Pexels. A Canadian-domiciled ETF is almost always subject to U.S. withholding tax, but there are exceptions and a foreign tax credit to consider. “Will buying a…

The article “Should you collect CPP and OAS while working in your 60s?” was originally published in MoneySense on December 6, 2022. Photo by Andrea Piacquadio from Pexels. If you’re in your 60s and plan to remain in the workforce, here’s what you need to know about applying for your…

The article “Can you save tax by moving into your rental property?” was originally published in MoneySense on November 28, 2022. Photo by Ketut Subiyanto from Pexels. Moving into a co-owned property has capital gains tax implications, but there are other financial impacts to consider as well. “I have a…

The article “Tools and habits to stay on track with your money goals” was originally published in MoneySense on November 22, 2022. Photo by Andrea Piacquadio from Pexels. Goal tracking is an important part of proactive financial planning. Here are some tools and habits to try to embrace. In recent…

The article “How spouses with joint accounts should claim capital losses” was originally published in MoneySense on November 15, 2022. Photo by Yan Krukov from Pexels. A couple with a pair of joint accounts wants to claim a capital loss on their taxes. How should the loss be reported, and…

The article “Should RRIF withdrawals be based on the younger spouse’s age?” was originally published in MoneySense on November 8, 2022. Photo by Rodnae Productions from Pexels. Is there an advantage to using a younger spouse’s age to calculate minimum RRIF withdrawals? Find out. “I am wondering about the minimum…

Although RRSP withdrawals can be deferred no later than age 72, it may be necessary or advisable to make withdrawals before then. Many retirees have the bulk of their retirement savings in registered retirement savings plans (RRSPs) or similar tax-deferred registered accounts. RRSPs need to be used to buy an annuity or…

The article “What are the tax implications of selling U.S. real estate?” was originally published in MoneySense on October 31, 2022. Photo by Kampus Production from Pexels. Mary and Vic are selling a property in the U.S. and want to know what the capital gain tax implications are on both…