As the calendar year comes to a close, it’s a good moment to review tax and financial planning opportunities. Some actions require urgent attention before year-end, while others are best prepared now to set up an efficient tax position for the year ahead. Below are practical year-end considerations for registered accounts, tax-loss selling, tax installments … Read more

Over the past 25 years, personal finance in Canada has changed dramatically. Economic cycles, shifting consumer behaviour and new technologies have reshaped policy and the financial landscape. Below are some of the most significant developments that have influenced Canadians’ finances over the last quarter-century. 1. 1999: Canadians gained a new way to access retirement savings … Read more

Inflation erodes purchasing power over time, and Canadians spent much of the last three and a half years coping with higher-than-normal prices. After decades of relatively stable inflation within the Bank of Canada’s 1%–3% target range, inflation surged to 8.1% in June 2022. The central bank raised interest rates sharply to bring inflation under control, … Read more

Statistics Canada reports that the annual inflation rate eased further in September, helped largely by lower gasoline prices than a year earlier. On Tuesday, the agency released its consumer price index (CPI) for September, showing a year-over-year increase of 1.6%, down from 2.0% in August. This marks the slowest annual inflation pace since February 2021, … Read more

Michael McCullough is a contributing editor to MoneySense and a financial writer and editor in Duncan, B.C. Canadian Natural Resources doubles down on Canada Canadian Natural Resources (CNQ/TSX) surprised some investors by moving decisively to expand its Canadian portfolio. The company agreed to purchase Alberta upstream assets from Chevron Corp. (CVX/NYSE) for USD 6.5 billion … Read more

Inflation and higher interest rates have materially reduced the purchasing power of many Canadian households since 2022, with the negative impact most pronounced for lower-income families, according to a report from the Parliamentary Budget Officer (PBO). At the same time, wealthier households have generally maintained or increased their purchasing power, largely because of gains in … Read more

Ask MoneySense I received a notice from the CRA that I now have to pay quarterly income tax every year. I would like to know how this is calculated so that I can be prepared for the upcoming payments. Is there a formula that I can base on? —Jack Quarterly tax payments in Canada If … Read more

Credit card interest rates in Canada have long been outrageously high, and they represent one of the clearest examples of how banks exploit their informational advantage over customers. While most interest rates have tracked down with decades of lower inflation and policy rates, credit card rates have barely budged. Today, typical credit card interest rates … Read more

No matter what stage you are at in financial planning, understanding the common risks to your retirement and financial stability is essential. The Toronto Star published a chart summarizing reasons why many Canadians delay retirement, and those findings highlight the pressures facing older workers. Inflation delays retirement for half of older Canadians Results of a … Read more

Welcome to the Canadian Crypto Observer. In this monthly column, financial journalist and author Aditya Nain provides perspective on headlines that move markets and practical guidance to help Canadian investors navigate the cryptocurrency landscape. Regulators sound a wake-up call to crypto exchanges Unregulated crypto trading is becoming a thing of the past in Canada. On … Read more