February is a good time to start putting together the documents you’ll need to file your income tax return. It’s also a good time to create and maintain a system to collect tax information year-round. You don’t want to miss...
Continue ReadingYou’ve contributed to a Registered Education Savings Plan (RESP) for years. Junior graduates from high school and, while you’re helping him pack to head off for post-secondary education—and thinking about whether to turn his bedroom into a guest or crafting...
Continue ReadingIt’s back-to-school time for families. But even if your child or grandchild is too young to be in school, it’s not too early for you to be getting ready for their education. That’s because there are government incentives to start...
Continue Reading
Early in my career, I worked in the Rulings Division of Revenue Canada Taxation, now Canada Revenue Agency (CRA). In the realm of cool jobs, it wasn’t on the level of an astronaut, but learning what I did for a...
Continue Reading
While 2023 saw Canada’s inflation rate drop by more than a third compared to the rate for 2022, our average inflation rate over the last 3 years was the highest it has been over any 3-year period for more than...
Continue Reading
As financial investments go, pet ownership is hard to recommend. Of course, the money and time we invest pay huge dividends in love and companionship. I’m in the pro-pet camp – we share our home with three cats and two...
Continue Reading
It’s no surprise that “saving more money” is a perennially popular New Year’s resolution. It’s equally unsurprising that it’s a resolution many of us don’t keep. Without question, jumps in the cost of living and unexpected expenses are two reasons...
Continue Reading
Effective tax planning takes place year-round, but there is still time in December to consider whether there are steps we can take to legally minimize the amount of income tax we must pay. RRSP contributions Tax-loss selling Charitable donations
Continue Reading
Exchanging handmade gifts at Christmas has encouraged more modest and thoughtful gift exchanges ever since
When you hear the Stan Rogers’ song “At Last, I’m Ready for Christmas,” do you wish you didn’t relate so much to the lyrics? The song tells the tale of a couple who “said this year we’d keep things simple,...
Continue Reading
Being asked by a friend or loved one to be the executor of their estate is an honour. It means they trust you to look after their affairs when they’re gone. But I’m here to suggest that you should seriously...
Continue Reading