One of the primary tax advantages of owning real estate in Canada is the principal residence exemption, which allows an individual homeowner to shelter unlimited capital gains on the portion of a property’s appreciation attributable to personal use. There are important exceptions: for example, land exceeding half a hectare (about 1.24 acres) generally jeopardizes the … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, reviews this week’s top stories and explains what they mean for Canadian investors. Is beating the bank easier than fighting the Fed? Canada’s central bank — the Bank of Canada (BoC) — operates in a world heavily influenced by the U.S. … Read more

Pretty much every Canadian has a bank account. So it makes sense to ensure that you have the best savings account for you (and chequing too) by shopping around. If you’ve decided to move on from your current bank, it’s important to close your old account carefully so nothing gets lost in the transition—overdraft fees, … Read more

Canadian home prices are falling while borrowing costs are rising rapidly. For prospective buyers, this creates a tug-of-war between lower prices and higher mortgage costs: will the market correction make home ownership more affordable, or will rising interest rates negate those gains? Overall, modest improvement in affordability is possible, but significant gains are unlikely. To … Read more

Is there a better time of the year to retire based on tax implications: December 31 versus June 30 versus January 30? —Laf The best date to retire for tax purposes For most Canadians, the decision about when to stop working is driven more by lifestyle, health and personal plans than by taxes. That said, … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes the week’s top financial headlines and offers context for Canadian investors. Profit margins poised to “fill” for Couche-Tard, plus banking updates Alimentation Couche-Tard (ATD/TSX), Canada’s leading fuel retailer, reported mixed results this week. On the positive side, net earnings rose … Read more

Renée Sylvestre-Williams is a freelance journalist whose byline often appears on MoneySense. She writes about personal finance with a lifestyle perspective, making complex topics like investing, taxes and financial planning clear and relatable. If you appreciated her responses in this installment of My MoneySense, consider her book Money Myths and her biweekly newsletter, The Budgette, … Read more

When a buyer tries to back out of a real estate transaction, the courts typically favor the seller, says Ron Butler, an experienced mortgage broker and co‑founder of Butler Mortgage in Toronto. “If you’re the buyer, find a way to complete the sale—beg, borrow, do whatever you need to do—but close,” he advises. Judges are … Read more

During my working years I transferred non-registered investment shares to my wife (a stay-at-home mother) using a spousal loan. At the time of each transfer I reported the capital gain and paid the tax on the difference between the fair market value (FMV) and the adjusted cost base (ACB). Over time we also made additional … Read more

Is the investment climate shifting toward a more positive outlook? My short answer: very likely. Recent market behavior and central bank signals suggest the worst may already be priced in, and investors are beginning to respond with greater confidence. In mid-July I began to notice signs that markets were turning a corner. Companies were reporting … Read more