Ask MoneySense Archives

Two electricians are looking at wiring inside an exposed wall, discussing if the renovation and upgrades are tax deductible

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Are home renovations tax deductible in Canada?

Doing home renovations? Find out if there are any tax incentives that Canadians are able to claim.

Are home renovations tax deductible in Canada?

Woman researching her withdrawal exceptions for financial hardship

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Financial hardship withdrawal exceptions and increasing income in retirement

Money in a LIRA or LIF is intended to last a lifetime, making it difficult to access more than...

Financial hardship withdrawal exceptions and increasing income in retirement

Investing

Should retirees pay off their mortgages with investments?

A bank advisor tells a Just retired woman who’s wondering if using investments to pay off a mortgage is...

Should retirees pay off their mortgages with investments?

A woman at home, sitting on the floor in her living room, wondering if she should pay off her mortgage or invest in RRSPs.

Columns

Contribute to RRSP or pay off mortgage?

Does it make sense to put some extra cash into an RRSP or use it to help pay off...

Contribute to RRSP or pay off mortgage?

Daughter writes in asking about how to avoid probate in Canada for her mother's estate

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How to avoid probate fees in Canada

Avoiding probate fees in Canada involves implementing strategies such as using beneficiary designations, joint ownership, and establishing trusts to...

How to avoid probate fees in Canada

A niece takes care of her uncle as power of attorney, is not his estate trustee.

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When does the role of power of attorney end—and estate trustee begin?

There are various roles for estate planning, including the POA and the estate trustee. Find out the difference between...

When does the role of power of attorney end—and estate trustee begin?

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How to claim a child’s income below the basic personal amount

Even if a child’s earnings are exempt from income tax, they may be entitled to tax credits or deductions....

How to claim a child’s income below the basic personal amount

A man reads documents about his TFSA and other investments at work, as he plans his retirement.

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A strategy for non-registered and TFSA accounts in retirement

Between a TFSA and non-registered accounts, what is the most tax-effective way to withdraw to fund retirement?

A strategy for non-registered and TFSA accounts in retirement

Mechanic with a clipboard stands under a hoisted car

Auto

How do car repair shops bill for services?

Why would a dealership bill more hours than its mechanics actually spent on servicing a car? Is this legal?

How do car repair shops bill for services?