Income trusts are designed to distribute cash to investors on a regular basis. To do this, companies convert their corporate structure into a trust. This allows the company to pay…
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How to avoid tax penalties and fees
It’s always best to file your taxes on time, and with correct and complete information. Otherwise, you could end up paying penalties or fees related to tax filing. On this…
Medical and attendant care expenses
…care expenses Summary Medical expenses for yourself, your spouse and your minor children You can claim medical expenses for yourself, your spouse (or common-law partner) and minor children that you…
How RESPs work
…There are two main types of providers: Financial institutions – includes banks, credit unions, mutual fund companies, investment firms and trust companies. They offer individual and family plans. Scholarship plan…
How to help your adult children build financial independence
…it’s increasingly common for children to live at home longer, or return to the family home. Every household may feel this financial strain differently. If you’re a parent or caregiver…
How do credit cards work?
…card Can only be used in one chain of stores or with one company Available from most major department stores, gas companies and phone companies Interest rates may be higher…
Mutual fund series
…the common letter associated with a series, but be aware that some companies may choose to use different letters for their funds. Investors in each series or class may need…
What are the red flags of crypto fraud?
…need to know anything. Asking for access to your computer: You’re told to download an app on your computer or phone (such as AnyDesk, Teamviewer) that actually gives the fraudsters…
Profiles of retirement
…age 50 may not retire as comfortably as those who are already retired. Compared to retirees, those who are not yet retired have less savings and more debt. Pre-retirees are…
How to buy GICs
…can pay by cheque or transfer from a bank account or another GIC that is maturing. Compare GIC rates To compare interest rates for GICs from banks and other companies…