Objective Financial Partners Blog
FP Answers: What are the problems associated with holding U.S. stocks in a TFSA?
The article “FP Answers: What are the problems associated with holding U.S. stocks in a TFSA?” was originally published in Financial Post on July 28, 2023, Last updated Jan 10, 2024. By Julie Cazzin with Andrew Dobson. Photo by DangerJacobs from Getty Images. You may be able to have your cake…
When Your Child Moves Into Your Rental Property: Capital Gains And How To Claim Principal Residence Exemption
The article “When your child moves into your rental property: Capital gains and how to claim principal residence exemption” was originally published in MoneySense on July 24, 2023. Photo by by DAPA Images. When an adult child moves into their parents’ rental property, the family should be clear on a…
How Annuities Work In Canada
The article “How annuities work in Canada” was originally published in MoneySense on July 17, 2023, reposted April 18, 2024. Photo by Kampus Production from Pexels. Annuities have faced headwinds over the past 40 years. But as interest rates climb and baby boomers retire, they’re gaining interest from Canadians. Annuities…
How To Claim A Child’s Income Below The Basic Personal Amount
The article “How to claim a child’s income below the basic personal amount” was originally published in MoneySense on July 10, 2023. Photo by evgenyatamanenko from Getty Images. Even if a child’s earnings are exempt from income tax, they may be entitled to tax credits or deductions. Here’s how their…
RRIF withdrawal rules for retirees need to be updated
The article “RRIF withdrawal rules for retirees need to be updated” was originally published in Financial Post July 5, 2023, by Jason Heath. Photo by Yan Krukau from Pexels. Retirees should beware of using the RRIF conversion age or the minimum withdrawal schedule as a guideline. The government and the…
Should You Include Your Pension In Your Net Worth?
Whether to include a pension in your net worth statement is up for debate. If you choose to do so, know there are a few ways it can be calculated. “I recently retired from the public service here in B.C. and have a defined benefit plan pension. Is there a…
4 Strategies For Income Splitting With A Lower-Income Spouse
The article “4 strategies for income splitting with a lower-income spouse” was originally published in MoneySense on June 26, 2023. Photo by Nataliya Vaitkevich from Pexels. If one spouse does not work, is it beneficial for the other to invest and buy stocks in their name? The tax implications depend…
Should You Transfer Your DC Pension Plan To A Discount Brokerage?
The article “Should you transfer your DC pension plan to a discount brokerage?” was originally published in MoneySense on June 26, 2023. Photo by Ono Kosuki from Pexels. “I have been with the same employer for nearly 20 years and have participated in the company’s DC RPP for nearly that…
What To Do When You Overcontribute To Your RRSP
The article “What to do when you overcontribute to your RRSP” was originally published in MoneySense on June 19, 2023. Photo by Ono Kosuki from Pexels. If you’ve accidentally overcontributed to your RRSP, you’ll pay a tax penalty. Here are your options for promptly correcting the mistake. “I overcontributed to…
What Expenses Can You Deduct When Renovating A Rental Property?
The article “What expenses can you deduct when renovating a rental property?” was originally published in MoneySense on June 13, 2023. Photo by Andrea Piacquadio from Pexels. The purpose of the renovations, as well as the occupancy of the building, can influence whether the expenses are tax deductible or not.…
Should You Accelerate Your Mortgage Payments—Or Invest?
The article “Should you accelerate your mortgage payments—or invest?” was originally published in MoneySense on June 12, 2023. Photo by Blue Bird from Pexels. Chantal wants to pay down debt, invest and buy a property down south but isn’t sure which to prioritize. “My husband and I are struggling with…
FP Answers: Can opening a joint investment account with my teenager reduce my taxes?
The article “FP Answers: Can opening a joint investment account with my teenager reduce my taxes?” was originally published in Financial Post on June 9, 2023, By Julie Cazzin with Andrew Dobson. Photo by Joslyn Pickens from Pexels. Putting investments in his name just to save tax and then using the…
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