Inheriting family heirlooms can feel like a gift—or a burden—depending on what’s left behind. The Swedish practice known as death cleaning, or “döstädning,” urges people to declutter their possessions while they can, helping to spare loved ones the time and emotional labour of sorting through unwanted items later. When integrated into estate planning, Swedish death … Read more

If you rent in Canada, you may assume your monthly rent doesn’t affect your credit score. Homeowners build credit through mortgage payments, but renters have historically lacked a similar path. Rent, however, is often a large recurring expense, and a history of punctual payments can demonstrate financial responsibility. Rent reporting services now let renters turn … Read more

Auto insurance is mandatory for drivers in Canada, and premiums can vary dramatically. Why the wide range? Insurers price policies based on risk. They assess the vehicle (is it prone to damage, theft, or mechanical failure?), the area where the car is kept (urban neighbourhoods typically show higher theft and collision rates than rural ones), … Read more

RRSP season is underway—have you made your contribution yet? Canadians can contribute to a registered retirement savings plan (RRSP) at any time, but the final opportunity to count a contribution for a given tax year is the 60-day window after year-end. For the 2024 tax year that deadline falls on a weekend, so the RRSP … Read more

Determining how Canadian a product truly is can be a minefield. Experts warn that anyone trying to prioritize homegrown options will need to research carefully and accept some difficult decisions at the checkout. Tracing an item’s origin is complicated because companies use a wide range of labels and marketing messages that can give the impression … Read more

Ask MoneySense Appreciate your article on OAS (Old Age Security). Can you tell me how net income is calculated? For example, if I have $100,000 in pension income and $30,000 was deducted for income tax, is my net income $70,000? —Kevin Calculating net income for tax and OAS purposes Kevin’s intuition is understandable, but the … Read more

The 2024 federal budget proposed raising Canada’s capital gains inclusion rate, but the measure has not become law. The change would have increased the portion of capital gains included in taxable income for certain individuals, and for all corporations and most trusts, with an effective date of gains realized on or after June 25, 2024. … Read more

Corporate Canada and a wide range of sectors that drive the nation’s economy are voicing strong opposition to the tariffs announced by U.S. President Donald Trump. Industry leaders warn the measures will raise the cost of doing business, disrupt supply chains and increase prices for everyday consumers. Canada response to the U.S. tariffs on Canadian … Read more

This February, shoppers across Canada can expect to see some grocery prices rise. An industry-wide annual freeze that pauses most supplier-driven price changes from November through early February comes to an end at the close of January, and retailers say some costs will be passed through to consumers in the weeks that follow. “We do … Read more

The federal government has announced it will defer the planned increase to the capital gains inclusion rate until next year and will introduce targeted exemptions so that most middle-class Canadians do not face higher taxes if the rate is adopted. Finance Minister Dominic LeBlanc said on Friday that the implementation date has been pushed back … Read more