There are potential tax benefits to incorporating. As a company owner, you can pay yourself a salary or a dividend (share of profits). In either case, you must pay personal income tax on this, which is separate from the business tax filing—once...
What’s the worst money advice you’ve ever received? Get an adjustable-rate mortgage as a first-time home buyer when the Bank of Canada interest rate is just 0.25%—when it has literally nowhere to go but up. It’s difficult for me to recall what the...
But the infrastructure behind mutual funds is much more costly than for ETFs. That’s helped J.P. Morgan, which has until now focused on institutional clients in Canada, to offer investment products for advisers and retail investors, said Hughes. “To have mutual funds, you...
“It’s going to be very challenging to sort of convince consumers to take that next step without there being some sort of comfort around the ability to charge outside their home,” Rogers said. She said consumer concerns need to be addressed if Canada...
Intergenerational trauma around money Science has proven intergenerational trauma exists. Essentially, when our parents or grandparents experience oppressive and/or distressing events, this trauma can appear in us, both in our genes and in our mental well-being. In fact, financial woes can often stem from...
What did we look for when comparing courses? Each course listed here must: Be free for Canadians Come from a quality educator Provide lessons that teach something useful and relevant to Canadians Be accessible, whether that’s online or in person in multiple locations Read more in the...
Newcomers and consumers who borrowed money for the first time in the past 12 to 36 months saw the biggest rise in missed payments, compared with the same consumer group last year, Equifax’s report published Tuesday, showed. “Recent newcomers to Canada are facing...
As I am myself the child of British immigrants, I am naturally sympathetic to those brave or desperate enough to leave their homes to find opportunities in North America. Which is one reason that over the past year, I’ve been corresponding with an...
In addition, three of the year’s busiest shopping days are coming up: Black Friday, Cyber Monday and Boxing Day. In the meantime, whether you’re holding out for the lowest prices on big-ticket items or preparing to give a sizable monetary holiday gift,...
At first, you would think having $158,000 of investments would be far better than having $120,000 and your tax-deferral strategy—taking minimum RRIF withdrawals—was the better choice. However, you may be wrong. When happens to your RRIF when you die When you die, unless you...
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