Finance news

Here’s a round-up of news for Canadian investors this week.
GoeasyAlgoma SteelTransatRBCMDA SpaceEmpireFeatured RRSP Accountsfeatured EQ Bank Build your retirement savings with 1.50% interest, tax-deferred contributions and zero fees. go to site featured Registered GIC rate Earn a guaranteed 2.75% in your RRSP when you lock in for 1 year. go to siteBest RRSP rates See our ranking of the best RRSP accounts and rates available in Canada. read now
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For many families, the grief of losing a parent is compounded by a harsh and unexpected reality: a messy financial aftermath. Amidst mourning, loved ones may suddenly find themselves facing a daunting array of bills, taxes, and legal duties they are unprepared to handle. The topic of inherited debt, often misunderstood, can turn a difficult time into a financial crisis.Many people assume that debt simply vanishes upon death, but the reality is different. Experts say the key to navigating th

If you aren’t careful, it’s easy to leave money on the table when filing your taxes. There are scores of deductions and credits available to taxpayers, so it’s worth looking at the list of tax benefits that may apply to you, both federally and by province or territory. Experts also say paying attention to government policies could make that job easier—and help lower your tax bill.“A lot of times when the government makes announcements, they’re usually ret

Airlines across the globe have started to hike fares and fuel surcharges in response to surging oil prices sparked by the war in Iran, and Canada is no exception. Several carriers indicated this week that higher ticket prices are likely—or already a reality—thanks to cost pressures caused by fallout from the conflict, which entered its 12th day on Wednesday. Air Canada spokesman Peter Fitzpatrick noted that “all airlines are subject to the current volatility” and that the

Airlines across the globe have started to hike fares and fuel surcharges in response to surging oil prices sparked by the war in Iran, and Canada is no exception. Several carriers indicated this week that higher ticket prices are likely—or already a reality—thanks to cost pressures caused by fallout from the conflict, which entered its 12th day on Wednesday. Air Canada spokesman Peter Fitzpatrick noted that “all airlines are subject to the current volatility” and that the

For Canadians relocating to the United States, one retirement question surfaces repeatedly: what happens to a locked-in RRSP?Locked-in retirement accounts, commonly known as LIRAs, are designed to preserve pension money for retirement. But under certain circumstances, leaving Canada can create an opportunity to access those funds earlier than expected. The key is understanding that the rules are statutory, jurisdiction-specific, and far from uniform.Why locked-in accounts existLocked-in RRSPs ty

With bonus and tax refund season underway, the same question tends to resurface: is it worthwhile to make a lump sum payment toward your personal loan, or could that money be better used elsewhere?In many cases, early repayment reduces interest and removes a monthly obligation. But the decision rarely exists in isolation. The structure of the loan, the interest payments, possible repayment penalties, and the alternative uses for that cash all matter. So does something less visible: how carrying

Rental property investors need to report their annual income and expenses on their tax return. You must also track your adjusted cost base (ACB), which may increase over time with renovations to determine the eventual capital gain when you sell. There are related tax concepts called undepreciated capital cost (UCC) and capital cost allowance (CCA) that are important to understand. What is UCC?The Canada Revenue Agency (CRA) defines the capital cost of an asset very simply as &ldqu

Every year tax filers—professional and do-it-yourselfers alike—face the challenge of making a claim for family members whose health has changed. Aside from the Spousal Amount, a Canada Caregiver Amount is available. It’s a complex claim and it’s made on Schedule 5 of the T1 return. Here are some of the nuances.Claiming the Canada Caregiver Amount for a spouseLet’s begin with making a claim for a spouse, common-law partner, or eligible dependants who are either

Here’s a round-up of news for Canadian investors this week.
Canadian Natural ResourcesPet ValuGeorge WestonCanada PackersFeatured RRSP Accountsfeatured EQ Bank Build your retirement savings with 1.50% interest, tax-deferred contributions and zero fees. go to site featured Registered GIC rate Earn a guaranteed 2.75% in your RRSP when you lock in for 1 year. go to siteBest RRSP rates See our ranking of the best RRSP accounts and rates available in Canada. read now
Why trust us
MoneySense is

Raising a family can be costly. But tax season may offer relief to some parents, as credits and deductions can reduce their overall tax bill. The key is to file your taxes before the April 30 deadline, experts say, or risk missing out.The tax-filing season for 2025 launched last week, and income tax returns help determine the benefits and tax breaks parents can get for their children.  Claiming child care expensesOne such tax break could come from claiming child care expenses. “This b

If you’ve been watching used car prices over the past year, you’re probably wondering if they’ll keep accelerating. Before you make a plan to trade in your vehicle or decide how much of a down payment to make, take a moment to anticipate what’s going on in the used car market this year.We spoke with Dan Park, CEO of Clutch, Canada’s largest online used car retailer, about the company’s latest annual used car pricing report. We also wanted to learn about how Ca

Welcome to the Canadian Crypto Observer. Financial journalist and author Aditya Nain offers perspective on market-moving headlines to help Canadian investors navigate the cryptocurrency market.At the time of writing the previous edition of this column, the US had just removed Venezuelan leader Nicolas Maduro from that country in a special forces operation, and flown him to New York to face charges. Weeks later, as I write this column, the US and Israel have launched a military attack on Iran, os

A friend at the gym was asking me if his crypto winnings from investments in Europe were taxable in Canada. It was a large once in a lifetime amount and was not his main source of income. He just tried for a few months and opt out afterwards. Lucky person.This made me curious because what he did was very speculative, if not gambling, which is tax-free.—Michel
Lottery or gambling winnings are generally tax-free in Canada. I think given the fact your gym buddy referred to winnings from &ldq

With housing prices close to record highs, many young adults worry that homeownership is no longer a realistic goal. But with smart planning, education, and creative strategies, buying that first home is still possible. As parents (or grandparents), we can empower our kids by teaching them strong financial habits and helping them leverage programs designed specifically for first-time buyers. Below are practical ways to support your children on their journey to homeownership—without je

Today’s column addresses a persistent concern I continue to hear from readers: the liquidity of exchange-traded funds (ETFs) or, more specifically, the fear of owning an ETF that appears thinly traded.The latest example came from a discussion I had with a friend about the BMO S&P/TSX 60 Index ETF (ZIU). I had highlighted it as a lower-cost alternative to the iShares S&P/TSX 60 Index ETF (XIU), noting that it charges a 0.15% management expense ratio (MER) versus 0.18% for its compet