Objective Financial Partners Blog
Should You Sell Investments At A Loss To Pay Off Debt?
The article “Should you sell investments at a loss to pay off debt?” was originally published in MoneySense on February 27, 2023 . Image by shurkin_son on Freepik. When paying a high interest rate on debt, does it make sense to sell investments that have fallen before their value has…
FP Answers: When Is Capital Gains Tax Due On A Cottage Purchased In Joint Tenancy With Two Other People?
The article “When is capital gains tax due on a cottage purchased in joint tenancy with two other people?” was originally published in Financial Post on February 24, 2023. Photo by Pixabay from Pexels. RRSP contributions are one way of reducing capital gains tax Q: “If a cottage is purchased…
Who To Name As Executor When Family Members Aren’t An Option
The article “Who to name as executor when family members aren’t an option?” was originally published in MoneySense on February 21, 2023 . Photo by Cottonbro Studio from Pexels. It’s not always possible or beneficial to name a family member or close friend as executor in your will. Here’s when…
Are Spousal And Child Support Payments Taxable?
The article “Are spousal and child support payments taxable?” was originally published in MoneySense on February 13, 2023 . Photo by Cottonbro Studio from Pexels. Spousal and child support payments are taxed differently. And lump-sum payments may come with their own tax implications. “I received a lump sum payment from…
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 February 8, 2023 . 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 withdrawals before…
Can An Executor Borrow Money To Cover Probate Costs?
The article “Can an executor borrow money to cover probate costs?” was originally published in MoneySense on February 6, 2023 . Photo by Gary Barnes from Pexels. Executors have a few options when the estate has outstanding bills and no cash to cover probate fees. Find out what they are.…
How To Invest As A Teenager In Canada
The article “How to invest as a teenager in Canada” was originally published in MoneySense on February 1, 2023 . Photo by kefkenadasi from Getty Images. Birthday money burning a hole? Read our “investing for teens” guide for where to invest, how to buy stocks, what you need from your…
The Tax Implications Of Working Abroad For Residents and Non-Residents of Canada
The article “The tax implications of working abroad for residents and non-residents of Canada” was originally published in MoneySense on February 1, 2023 . Photo by Jopwell from Pexels. What taxes do you owe when working in another country if you’re a resident of Canada or have significant residential ties…
How To Use Income ETFs For Retirement Income
The article “How to use income ETFs for retirement income” was originally published in MoneySense on January 31, 2023 . Photo by Karolina Grabowska from Pexels. Are income ETFs the right choice for retirees? And should you place them in a life income fund that has minimum withdrawals? “I am…
Here’s What You Need To Know About Picking An Executor For Your Will
The article “Here’s what you need to know about picking an executor for your will” was originally published in Financial Post on January 26, 2023. Photo by Dzmitry Dzemidovich from Getty Images. Testators writing a will should consider whether the executors they are naming are the right people The most…
When Does The “Plus 1” Rule Apply To A Principal Residence?
The article “When does the “plus 1” rule apply to a principal residence?” was originally published in MoneySense on January 23, 2023 . Photo by Karolina Grabowska from Pexels. There are tax implications to inheriting a second property. But in certain circumstances, you can have two principal residences in the…
FP Answers: What Are The Pros And Cons Of Using A DRIP Account For Your Investments?
The article “What are the pros and cons of using a DRIP account for your investments?” was originally published in Financial Post on January 20, 2023. Photo by by Andrii Dodonov from Getty Images. Using DRIPs in a taxable account could have unintended long-term consequences Q: “What are the pros…
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