Planning Your Retirement- There is no Substitute

One of the best risk-adjusted investments you can make requires no commissions, no buying and selling, and no management fees. According to a new study from the Certified General Accountants Association of Canada, the boring old mortgage prepayment performs better than most common retirement savings vehicles, including RRSPs. “Single individuals and couples with no dependents […]

Ottawa chastised for handling of TFSA tax rules

The Canada Revenue Agency should have been more active in fulfilling its responsibility of letting Canadians know the tax consequences of the Tax-Free Savings Account (TFSA), says a new report from the federalTaxpayers’ Ombudsman. Although the rules regarding withdrawals and over-contributions were available on the CRA’s website from the start of the program, the report released Monday said the […]

What’s the best way to save for a house: RRSPs or TFSAs?

Add RRSPs versus TFSAs to the list of decisions you have to make as a prospective home buyer. Some serious saving is going to be required to meet the minimum 5-per-cent down payment for buying a home, not to mention the 20-per-cent threshold for avoiding costly mortgage default insurance. Two ideal vehicles for saving are […]

Easing the tax hit for investment property owners

Whether it’s a duplex, a cottage or a Florida getaway, a second property can be a rewarding investment over time. But if you’re not careful, it can prove taxing as well. A little planning goes a long way. The following are some common mistakes financial planners see in their practice, as well as some tips […]

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