Figuring out how and where to pay taxes when you leave Canada is an essential step if you plan to live or work abroad. Statistics Canada estimates millions of Canadians live outside the country, and many of them face complex tax and financial decisions. Before you move, take time to plan and consult qualified advisors … Read more

The following is an excerpt from Shannon Lee Simmons’s new book Making Bank: Money Skills for Real Life. Oliver, who learned to ask for what he needs Age: 16 Sibling status: Only child Income source: Has a regular allowance Regular income: $150 a month from allowance Current savings: $500 in an online chequing account; an … Read more

Lululemon Athletica Inc. expects only modest growth in its U.S. business in 2025 as shoppers appreciate the company’s fresh product introductions but remain cautious about the broader economy. Chief Executive Calvin McDonald said the retailer’s own polling with Ipsos shows many U.S. customers are dialing back spending because of worries about inflation and economic conditions. … Read more

Canadians have several effective ways to save and grow their money, including registered accounts that deliver important tax advantages. If you’re building a retirement nest egg, you likely use a registered retirement savings plan (RRSP) and a tax-free savings account (TFSA). Below is a concise refresher on how RRSPs and TFSAs work and what their … Read more

If you’ve sold your home or plan to soon, you may find yourself with a substantial amount of cash that needs a safe, short-term place to sit while you decide your next move. A standard savings account typically pays very little interest, so unless you need immediate access, it makes sense to consider options that … Read more

“Bonds are back” is a headline you may have seen in recent financial coverage. After years of low interest rates, fixed-income investments are attracting fresh interest—and with good reason. For Canadian savers today, there are several competitive options to earn interest that helps money keep pace with inflation. The key question is: where should you … Read more

In March, the Bank of Canada lowered its policy interest rate by 25 basis points, bringing it down from 3.00% to 2.75%. This marked the central bank’s seventh consecutive rate cut. For Canadians, that shift affects both borrowing costs and returns on savings. Lower rates can be good news for borrowers: mortgage lenders and other … Read more

Ask MoneySense Do you have any tips for withdrawing from an RRSP? Some background: My spouse and I are debt-free and mortgage-free. We own our home (current value approximately $1 million). We are hesitant to downsize as this home is accessible for me. I have approximately $650,000 in RRSPs and $105,000 in TFSAs. At 65, … Read more

Ask MoneySense I have a question about fair market value. When I moved to Canada in 2011, I recorded a fair market value for my property in London, England. That valuation was prepared by a realtor and used so I could claim capital cost allowance (CCA) on my income tax while renting the property. Now … Read more

The spring housing market has clearly cooled. Home sales across Canada fell 9.8% month over month and more than 10% year over year, according to the Canadian Real Estate Association (CREA), which pointed to tariff uncertainty as a major factor behind the slowdown. Many buyers are understandably cautious. Even though proposed tariffs are not yet … Read more