Special to MoneySense

How to get a bigger benefit from your RRSP contribution

Online only, 24/01/2020 / Comments (0)

Invest with before-tax dollars if you can, and don’t let the resulting tax refund get swallowed by by day-to-day expenses.

Is Carol better off withdrawing all the money from her RRIF now?

Online only, 30/12/2019 / Comments (0)

At age 73, she believes this strategy will allow her to claim additional Guaranteed Income Supplement and and rent subsidy benefits.

What’s the best way to help a relative, financially?

Online only, 24/12/2019 / Comments (0)

At 30, David’s nephew is living on close to minimum wage, with no retirement savings. An RRSP isn’t the best choice, because withdrawals will count as taxable income that may reduce government benefits. But there are other options.

Claiming income on a co-owned rental property

Online only, 15/12/2019 / Comments (0)

Marie, who owns two rental properties with her spouse, noticed that their tax preparer didn’t allocate the income 50/50. Was that incorrect?

How much should you give to charity?

Online only, 03/12/2019 / Comments (0)

You’ll want to consider how much you want to give, as well as how much you can afford, and when to apply the federal and provincial tax credits your donations qualify for.

Is Dane, 50, on the right track with his early retirement strategy?

Online only, 22/11/2019 / Comments (0)

To bridge the gap between his last day of work, and the start of his defined-benefit pension payments at age 60, he plans to draw funds from laddered GICs.

Who pays the tax on dividends earned in a joint account?

Online only, 18/11/2019 / Comments (0)

Though tax reporting can be complicated, on this point the answer is simple—at least, from the Canada Revenue Agency’s perspective.

Debt consolidation: What you need to know

Online only, 24/10/2019 / Comments (0)

By consolidating your loans, you can transfer higher-interest debts that you struggle to keep track of into a single lower-interest obligation. Read on to learn the different options, and whether consolidation is the right choice for you.

Ready, set…retire?

Online only, 11/10/2019 / Comments (0)

At 49, Simon has about $600,000 in registered and non-registered investments, and wonders if it’s enough to live on through his golden years.

“When should I claim the cost of renovations to my rental property?”

Online only, 10/10/2019 / Comments (0)

Whether to write off the cost of renovations annually, or upon the sale of the property, depends on how you plan to use it. Do you intend to hold it as a source of income, or sell it in short order to take advantage of rising real estate values?

5 easy ways to boost your investing confidence

Online only, 07/10/2019 / Comments (0)

If worries about your investing savvy are holding you back, these ideas can boost your knowledge of the basics.

Should James take a lump-sum pension buyout and invest the money himself?

Online only, 04/10/2019 / Comments (0)

Upon closer consideration, many people find that keeping their guaranteed pension payments leaves them better off.

What is an EPSP, and how does it affect employees at tax time?

Online only, 30/09/2019 / Comments (0)

Corporations can choose to share a portion of profits with their employees by setting up a trust, called an employee profit sharing plan. Here’s a quick look at how it works.

“Should I sue for wrongful dismissal?”

Online only, 25/09/2019 / Comments (0)

Dave believes he was fired for disagreeing with his boss, and that he was shortchanged in his severance package. Could he receive a worthwhile sum of money by suing?

Taking control of your finances with confidence

Online only, 23/09/2019 / Comments (0)

Only 30% of women are confident about their finances. EQ Bank’s online resource stnce aims to change that by providing a safe space where financial resources are available at the click of a mouse.