Certified Financial Planner Jason Heath answers two reader questions about selling foreign real estate and the tax consequences in Canada, the U.K. and the U.S. Below you’ll find clear guidance on reporting international property sales, calculating capital gains, claiming foreign tax credits and how tax treaties affect cross-border transactions. The tax implications of selling foreign … Read more

It’s been a turbulent year for Gen Z in Canada. Young adults have been squeezed by rising living costs, higher rents, and a volatile job market. While some of these pressures are likely to continue into 2024, there are practical steps you can take to reduce risk and build financial resilience. Below are five trends … Read more

It’s that time of year again—time to set New Year’s resolutions for 2025. If your holiday spending left your bank account a little light, this is a great moment to focus on giving yourself a financial boost. Below are 10 SMART financial goals to consider, plus a clear summary of the SMART framework and examples … Read more

Ask MoneySense I have owned a lot of preferred shares for the so‑called “fixed income funds.” They have all lost at least a third of their value. They are paying 4% to 5% dividends. Should I sell all of them to take the loss or hang on to make the interest or dividends they pay? … Read more

More Canadians will soon have access to affordable dental care. A new federal program is making it easier to receive preventive cleanings, necessary fillings, root canals or new dentures. Earlier this month, the Government of Canada provided additional details about the Canadian Dental Care Plan (CDCP), which was first announced in the 2023 federal budget. … Read more

Canadians have felt the impact of persistent inflation as the Bank of Canada (BoC) works to bring inflation back to its 2% target. Since early 2022, the BoC has raised its policy rate several times, pushing the benchmark interest rate higher and influencing lenders’ prime rates. Although future rate moves are uncertain, the BoC has … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares notable financial headlines and provides context for Canadian investors. It’s a tough job, but… Predicting what the investment world will do is difficult. Forecasting the short-term movements of specific investments is even harder. Because of that, you shouldn’t rely … Read more

If you’ve followed headlines about bitcoin and ethereum, you know cryptocurrencies and the broader crypto asset class have experienced dramatic swings. Like other investments, crypto goes through boom-and-bust cycles. From late 2021 to late 2022, the total crypto market capitalization fell from roughly $2.7 trillion to about $850 billion (all figures in U.S. dollars), which … Read more

Canadian investors have faced high inflation for several years, and the Bank of Canada’s efforts to cool prices have kept interest rates elevated. That environment has pushed guaranteed investment certificate (GIC) yields higher, with some non-redeemable one-year GICs approaching 5% or more. While many people think of GICs as a way to lock money away, … Read more

Tax season is approaching, and soon more than 30 million Canadians will be filing returns. While most people file annually, a Carleton University paper estimates as many as 12% of Canadians do not file. Missing returns not only forfeits refunds but also blocks access to tax-free and refundable federal and some provincial benefits. Everyone aged … Read more