What started as a guest post on the Money Smarts Blog called “Why 99% of financial advisors should be shot out of a cannon” (which has since been removed by the blog owner) had ballooned into a heated discussion on multiple blogs about many things. The promoters behind the post includes someone (Martin Horvath) who [...]
Interview with Professor Benjamin Alarie – Founder of TaxWiki.ca
Professor Benjamin Alarie with the Faculty of Law at University of Toronto recently launched www.TaxWiki.ca. I spoke to him recently and have published our conversation as a podcast. We discuss the genesis behind TaxWiki, describe Interpretation Bulletins, and chat about the small army of bright tax minds who will be contributing to what may become [...]
The ECOFEE Is A Tax
There has been furor in Ontario over a “new” fee known as the Eco Fee (or ECOFEE as it appears on receipts), which entered its second phase on July 1st (Happy Canada Day!) – the same time as the new HST (Harmonized Sales Tax). The furor is because no-one knew about it. Eco fees have [...]
Capital Loss Transfer
A reader asked a question the other day about superficial loss rules when Spouse A sells a security for a loss but Spouse B buys that same security within 30 days. I thought I would post the answer for all to see as it is an interesting question. Remember, anything you read here should be [...]
Detailed Explanation of HST for Business Owners
ING Direct sent me a link to some videos and a powerpoint presentation deck on a workshop they held recently that explains the ins and out of the new HST for business owners. I thought it was worth passing on for those who want to learn more about the new Harmonized Sales Tax. I think [...]
My New iPhone Macro
I picked up an iPhone Macro on the weekend. The latest product offering from Apple definitely has some serious cool factor going for it but I find it a bit impractical at times. For example, it much easier to run on the treadmill with my iPod Touch which can easily fit onto an armband. The [...]
Gold Plated Member of Parliament Pension Plans
A long standing MP can collect a $100,000 annual pension. After just 6 years as an MP you can qualify for a $27,000 annual pension. What’s even more curious is that the pension benefits are secured by tax-payers. There are no actual investments, only a big IOU on paper which is guaranteed to grow every [...]
CTV Newschannel Interview on Retirement and The Budget
CTV Newschannel was kind enough to invite me down to chat with Jacqueline Milczarek about the latest budget and personal finance in general. Click here to view the interview (there will probably be a 15 second advertisement video before the segment starts).
GIVEAWAY: Two Copies of QuickTax Standard from Intuit
A representative for Intuit contacted me last night to offer up two copies of Intuit’s QuickTax Standard (handles up to 8 returns) for a giveaway on the blog. With the deadline for filing your taxes coming up I thought I would agree to the giveaway if they would explain exactly how they can guarantee the [...]
Tax Advantages of Segregated Funds versus Mutual Funds
Following from yesterday’s post on year end mutual fund distributions, I should point out that Segregated funds (which are very similar to mutual funds in that they are essentially investment funds but with certain guarantees on capital over time or upon death) are markedly different. Specifically: 1. Segregated funds (seg funds for short) can flow [...]
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