Ask MoneySense What happens to my income and taxes if I move money from a RRIF into a TFSA? Do I need to allow for a 30% withholding when I withdraw and then report it as income at year end, or does transferring into a TFSA change my taxable income? —Soheir Transfers between registered accounts … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, reviews recent financial headlines and provides context for Canadian investors. Canadian inflation eases, largely due to slower grocery price growth Surprisingly, the groceries in your cart have not risen much compared with a year ago. While food prices climbed steeply … Read more

TD Bank Group reported a 22% drop in second-quarter profit compared with the same period last year, citing a large charge tied to shortcomings in its U.S. anti-money laundering controls. The bank had previously stated it would record an initial $615 million charge as part of ongoing discussions with U.S. regulators, a disclosure that allowed … Read more

Ask MoneySense I am the executor of an estate that includes an empty cemetery plot. Is this plot subject to a capital gains tax when I sell it for the estate beneficiaries? —Brian Taxes on the sale of a cemetery plot As urban land becomes scarcer and property values rise, the price of cemetery plots … Read more

Contractors have been in strong demand across Canada in recent years. Home renovations surged during the pandemic and have remained popular, creating steady work for skilled tradespeople. With demand high and apprenticeships lagging, now can be an excellent time to pursue a career as a contractor or to start your own home renovation business. Statistics … Read more

At Andrew Lake Lodge — a remote fly-in camp in the far northeast corner of Alberta — owner Dan Wettlaufer was preparing to welcome the first visitors of the season this weekend. He acknowledged, however, that the uncontrolled wildfire near Fort McMurray could disrupt the May long weekend and the start of the summer tourism … Read more

When my husband and I bought a house with my mother in 2015, it was a leap of faith for everyone involved—but it came with a clear plan. We would convert the unfinished basement into a comfortable, customized suite for my mother while our family lived upstairs. The layout would include a full kitchen, bedroom … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, summarizes this week’s financial headlines and provides context for Canadian investors. Inflation is down, and stocks climbed This week the pattern continued where easing inflation readings helped push U.S. stock indexes higher. The U.S. Bureau of Labor Statistics said the … Read more

Financial stress in Canada has reached a critical point. Inflation, rising costs for basic necessities, and broader economic instability are contributing to widespread worry. Still, these pressures alone do not fully explain the depth and prevalence of financial anxiety. From my experience as a financial recovery expert and founder of The Trauma of Money, I … Read more

Two Canadian companies released their fourth-quarter results this week, alongside other corporate updates that affect investors and customers alike. Canada Goose reports $5M Q4 profit, year-over-year revenue up 22% Canada Goose Holdings Inc. (TSX: GOOS) returned to profitability in its fourth quarter, reporting net income attributable to shareholders of $5.0 million, or $0.05 per diluted … Read more