Canada | WhereDoesAllMyMoneyGo.com

iPad Review

Posted by Preet on Apr 13, 2010 | 7 comments

So the cat’s out of the bag: there is no iPhone Macro. I indeed purchased an iPad. Here is my review after having used it for the last few days. iPad Models There are six models to choose from, but the only factors of differentiation are memory size (16GB, 32GB, 64GB) and whether or not it has WiFi or WiFi + 3G. 3G just refers to the ability to connect to the internet when you are not in the range of a wireless network. Here are the prices in the US: It should also be pointed out that if you want to take advantage of 3G services, you have to subscribe to a plan. Currently the only plans available are $14.99/month for 250MB of data or $29.99/month for unlimited...

TER: The Trading Expense Ratio or Total Expense Ratio?

Posted by Preet on Mar 23, 2010 | 1 comment

By now, most people have heard of the MER (Management Expense Ratio) in mutual funds and ETFs. Another term that gets bandied about is the TER, which is less well known and has a few different meanings depending on which country you are in. Meaning 1: TER = Trading Expense Ratio (Canada) When you look at a Canadian fund’s MRFP (Management’s Report on Fund Performance), it is now required to show the Trading expense ratio of the fund which represents the amount of trading commissions incurred to manage the portfolio as a percentage of the total assets of the fund. For example, if you had a $100 million fund and the trading commissions for the year incurred by...

Options Gurus Set Up Paid Educational Website

Posted by Preet on Mar 14, 2010 | 1 comment

I use options in my own portfolio but only rarely write about them. I will try to write more option-related material in the future, but for those who are interested in learning more right away you might be interested in a new site set up by some of the top option bloggers on the internet. The new website is called “Expiring Monthly“. One of the contributing authors is Dr. Mark Wolfinger, and you may want to read the interview I had with him on this blog by clicking here. I consider him to be a real straight shooter and so when he approached me to help promote his site there was absolutely no hesitation on my end. However, he did indicate that he was offering...

Income Tax – The Canadian Tax Bracket System

Posted by Preet on Oct 15, 2007 | 53 comments

Updated to 2009 Tax Year Personal Income Tax You may or may not be aware that Canada’s personal income tax system is set up in a “progressive” manner. Basically the more you earn, the more you are taxed. In fact you may have heard people referring to high-income earners losing half of what they make to income tax. While it is true that a high income earner will pay a lot of money in tax, they don’t normally pay HALF of their income to the income tax collectors. Tax Rates Allow me to explain… There is no 50% tax bracket in Canada. In Ontario, the highest tax bracket, or marginal tax rate, that exists is 46.41% for income over $126,265...

Use our strong dollar to save on online purchases…

Posted by Preet on Aug 1, 2007 | 0 comments

Our dollar has been hovering around $0.95 USD. So to figure out how much you pay for something that is listed in US funds, just divide the US price by 0.95. Now you have how much you will pay in Canadian funds. To take advantage of this you need to know that the price spread of an item (the difference between how much it costs in US funds and how much it costs in Canadian funds) is greater than the price spread between the loonie and the US dollar. (The price spread between the loonie and the US dollar is 5 cents divided by 100 cents). <– THAT’s the philosophy, but what you really need to know is that when you divide the US priced item by the...

An iPod tax in Canada up to $75?!?!

Posted by Preet on Jul 24, 2007 | 0 comments

Yikes! It’s actually a blanket tax on flash memory storage devices by the looks of it, and it will range based on the size of the memory – and for a 30GB iPod it looks to be $75! It hasn’t gone into effect yet and won’t be until at least 2008 – but if it is passed and you were considering buying a device which would incur the tax keep an eye on the implementation date! You can read the full story here. I have to give credit to the BoyGeniusReport (which is a website that provides ungodly fast sneak previews of the next generation mobile phones and other cool gadgets) for digging up this info before the general Canadian Press! Well done! If...