…that grossed-up amount based on your tax rate. 5. Claim a federal dividend tax credit of approximately 15% of the grossed-up dividends. 6. Claim a provincial tax credit based on where you live. Learn…
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Using trusts in estate planning
…depend on the intended use and your personal situation. 1. You have children from a previous marriage If you remarry, a trust can provide support for your spouse during their…
How RESPs work
…up to 40 years for beneficiaries eligible for the disability tax credit. Use this RESP calculator to estimate how much you need to save each year for your child’s education….
How and why to insure your home
…snowblowers, tractors and farm equipment jewelry, silverware, artwork or furs collector’s items like baseball cards, comics, manuscripts or stamps guns and ammunition If you’re not sure how much your belongings…
How defined benefit pension plans work
…must let you join if you have worked for your employer for 24 consecutive months and you have either: worked at least 700 hours a year for the two previous…
Saving versus investing
…debts such as credit cards, it may be better to pay these down first before focusing on large savings goals or investing. The interest accumulated on these debts will grow…
How stocks and dividends work
Stocks (or shares) are a foundational type of investment. Stocks can rise or fall in value. This in turn influences activity in the stock market overall. Understanding how stocks work…
Grandparent scams and how to avoid them
…for gift cards or cryptocurrency like bitcoin). Scammers may say they urgently need cash from you because they are: Under arrest and need bail money to avoid jail time. Stuck…
Retirement Readiness: Canadians 50+
…plan: not enough Canadians have done any retirement planning. Get retirement advice: 9 out of 10 respondents felt financial advice in and approaching retirement would be useful. The most useful…
Bank account basics
…you live or work. That’s because ATMs out of your network may charge up to $3 per withdrawal. 5. Open your account You’ll have to give personal information when you…