Reduce taxes in the current year There are several ways to do this: Fill tax efficiency gaps: Many Canadians have unused tax-advantaged savings room in registered accounts—and this is a real miss. For example, you can invest in your registered retirement savings plan (RRSP) to reduce net income...
How to find the best deal out there Keehn said people should sit down once a year to go over their bank account cash flows and shop around for better deals. She said figuring out your spending pattern can help you find a chequing...
But even among Canadians familiar with the RDSP, there are misconceptions. For example, the survey found that 36% of people with potentially qualifying medical conditions and caregivers who hadn’t opened an account thought they didn’t have enough money to do so. One-third...
“Do not click on links in unsolicited emails or texts. Instead, visit the official website of the courier service for updates,” the bureau said. Report scams and fraud attempts Canada Post recommends customers contact the Canadian Anti-Fraud Centre if they receive a suspicious email,...
Enter Moi Rewards. This loyalty program is already popular in Quebec, and it’s now available in Ontario at Metro and Food Basics grocery stores. Here’s everything you need to know about this personalized loyalty program that makes shopping for groceries—and saving money—easy. Why...
Selling tickets as a business in Canada Some people “scalp” tickets—buying and selling them for a profit—as a business endeavour. If that is you, the income is taxed as business income, which is fully taxable at your marginal tax rate. If you are buying...
American retailer earnings highlights All numbers below are in U.S. dollars. Nordstrom (JWN/NYSE): Earnings per share were $0.33 (versus a predicted $0.22), and revenues were $3.46 billion (versus a predicted $3.35 billion). Urban Outfitters (URBN/NYSE): Earning per share at $1.10 (versus a predicted $0.85), and...
Who can open a TFSA? Any Canadian over the age of 18 who has a valid social insurance number (SIN) is eligible to save or invest in a TFSA. How do TFSA contributions work? If you’re asking “What’s the catch?”—well, there isn’t one, unless you...
The actual TFSA yearly limit was set at $5,000 back in 2009 when the investment account was first created, but it’s indexed to inflation each year and rounded to the nearest $500 to simplify things for investors. The exception was 2015, when...
There’s a specified limit to how much money you can put inside a TFSA. For 2024, the annual TFSA contribution limit is $7,000, and for 2025, it will be $7,000. As of Jan. 1, 2024, there is a lifetime maximum of $102,000...
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