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I was chatting with a friend last week who asked me, “Why do you dislike the Canada Revenue Agency so much?” I was a bit shocked since I really don’t. I quite admire and respect the important job the CRA has to do — administering Canada’s complex tax laws is very difficult — its people […]
CRA’s 100-day plan results are not the presents Canadians want or need Read More »
Nobody should be raiding their tax-free savings account for a frivolous reason — it’s not meant to be a slush fund. But if you’re going to pull money out strategically, the clock is ticking. That’s because of a unique feature of the accounts that restores contribution room at the start of the calendar year following
Garry Marr: How raiding your TFSA before the end of year could save you thousands Read More »
Rick, a retired accountant from Vernon, B.C., has been coming to California for 17 years. But closing in on 80 years of age, he has been reconsidering that ritual. He doesn’t like the political climate in the United States and he also worries about how Canadians will be accepted. He would probably sell his place
Kate Ashford, WMS™ writes for NerdWallet. Email: [email protected]. Twitter: @kateashford. The article The High Stakes Behind the Netflix/Paramount Bidding War For Warner Bros. originally appeared on NerdWallet. https://www.nerdwallet.com/finance/news/netflix-paramount-bidding-war #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding
The High Stakes Behind the Netflix/Paramount Bidding War For Warner Bros. Read More »
When dealing with debt problems , bankruptcy is often seen as an option of last resort. While it can provide a fresh financial start and be a viable option for some people, it is not a practical option for others. In fact, there are clear circumstances when going bankrupt will either be ineffective, impossible or
What happens when going bankrupt is not an option? Read More »
Do you have a 1972 Chevrolet half-ton sitting in your driveway? Or a 1987 Ford Tempo? How about a 1999 Toyota Corolla? If you do and regularly drive it, they’re likely not efficient and require a significant amount of upkeep. The years of vehicles represent the last three times Canada had meaningful or significant tax
Tax reform requires more from the Liberals than just a minuscule tax rate reduction Read More »
Lauren Schwahn writes for NerdWallet. Email: [email protected]. Twitter: @lauren_schwahn. The article Coming Soon: NerdWallet’s 7-Day Financial Reset originally appeared on NerdWallet. https://www.nerdwallet.com/finance/news/7-day-financial-reset #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome #finances #generationalwealth
Coming Soon: NerdWallet’s 7-Day Financial Reset Read More »
The Canada Revenue Agency (CRA) is warning that Canadians could unknowingly participate in an “aggressive” tax scheme and face serious consequences, including penalties, court fines and even jail time. The agency issued a news release saying the scheme involves critical illness insurance arrangements that may be designed to avoid paying taxes. The arrangements are often
CRA warns of ‘aggressive tax schemes’ involving critical illness insurance Read More »
In an increasingly complex world, the Financial Post should be the first place you look for answers. Our FP Answers initiative puts readers in the driver’s seat: you submit questions and our reporters find answers not just for you, but for all our readers. Today, we answer an estate question from Peter about a missing
Rick VanderKnyff writes for NerdWallet. Email: [email protected]. The article Shocked by Your Electric Bill? 3 Reasons Costs Are Rising originally appeared on NerdWallet. https://www.nerdwallet.com/finance/news/electricity-costs #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome #finances
Shocked by Your Electric Bill? 3 Reasons Costs Are Rising Read More »
By Diana Orlic Names such as Bill Gates or Warren Buffett often come to mind when people consider philanthropy , but philanthropy is not just for the ultra-wealthy because everyday Canadians who want to make a difference can also give in many different ways. From financial donations to volunteering time, a meaningful contribution is defined
‘Tis the season: How to make philanthropy part of your financial plan Read More »
I’m not looking for pity here, and I won’t get it, but I have too much money in my family’s registered education savings plan. If that sounds like the kind of problem most parents would love to have, I agree. But when it comes to RESPs , having too much can create its own set
Garry Marr: Robust markets and gainfully employed kids are ruining my RESP plans Read More »
Here’s what to consider when comparing the costs of Netflix, Amazon Prime, Hulu and other options to identify the best streaming service for you. Cara Smith writes for NerdWallet. Email: [email protected]. Twitter: @https://twitter.com/caramichelles. Lisa Mulka writes for NerdWallet. Email: [email protected]. The article What Is the Best Streaming Service for You? How to Choose originally appeared
What Is the Best Streaming Service for You? How to Choose Read More »
This week the Canada Revenue Agency (CRA) released the new tax numbers for 2026. Here’s what you need to know for next year. Inflation adjustment factor Each year, most income tax and benefit amounts are indexed to inflation . The CRA announced that the inflation rate that will be used to index the 2026 tax
CRA released the new tax numbers for 2026. Here’s what you need to know for next year Read More »
It’s been more than 80 days since one of the most exciting days in Canadian tax history, with another couple of weeks to go until we see the results . As the Pointer Sisters famously sang , “I’m so excited, and I just can’t hide it. I’m about to lose control and I think I
Billed as the tallest residential tower in Canada, the 85-storey project at Yonge and Bloor in Toronto once known as the One , will probably be also famous for one of the longest construction runways to final completion, a time frame every condo buyer should worry about. Developer Sam Mizrahi bought the land in 2014,
Q. We are Canadian citizens from Toronto but living for two years now in the United Kingdom, where my spouse has a great job. He paid income tax our first year in the U.K. and our main taxes are filed with the Canada Revenue Agency (CRA). I paid any tax owing on my account to
As Canadians living in the U.K., should we keep paying taxes in Canada? Read More »
Parents often wonder how much allowance to give their kids. There is no single number that fits every family, which leaves many people unsure about where to start. The goal is to give kids some… The post Allowance for Kids: How Much to Give and Why It Matters appeared first on Crediful. https://www.crediful.com/allowance-for-kids/ #financialfreedom #money
Allowance for Kids: How Much to Give and Why It Matters Read More »
Frank* is 84 years old, a widower and thinking about how to pass on his accumulated wealth to his two adult children in the most efficient and cost-effective way possible. He is in reasonable health and he expects to live to 90. He lives debt-free in British Columbia where he owns a home valued at
By Ida Khajadourian Winning the lottery feels like a dream come true, but without a plan , that dream can quickly turn into a financial nightmare. Whether it’s $50,000 or $5 million, sudden windfalls of wealth bring both opportunity and risk. Some winners struggle to manage a windfall because they are unprepared for the financial and
Did you win some lotto money? Here are the first five things you should do Read More »