Understanding Canadian Tax Rates

I have sometimes heard it said, “There’s no point in earning extra income; it’s just going to be taxed away.” Oddly enough, no one seems to turn away a raise.   Graduated vs. Flat Tax Canada has a graduated income tax regime. This means that the more you...

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Expatriating from Canada: Financial Implications

Canada welcomes significant numbers of immigrants each year. However, many people choose to leave Canada for other countries, too. I have relatives and friends who live in the United States, Japan, and Australia, to name just three countries. I lived in Japan myself for a...

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Reboot Your Portfolio, by Dan Bortolotti – A Review

As I wrote on my website, one of the major reasons I began to work in financial planning is because I saw multiple DIY portfolios that were not founded on any rational approach to investment planning. Many seemed to view investing as a variation on...

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Assessing the “Latte Factor”

A couple of years ago, David Bach, with John David Mann, published the book The Latte Factor. I haven’t read the book, so this is not a review. But looking at the table of contents, it appears that the book is not simply about investing...

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Withdrawing from your RRSP

You have been diligently saving for your retirement in your Registered Retirement Savings Plan (RRSP). However, after surveying your finances, needs, and opportunities, you decide that you need to withdraw some money from your RRSP.   The RRSP is, as the name indicates, a savings plan. You...

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Using the Pension Income Tax Credit

After a working career of three or four decades or more, you hope you have put away an adequate amount of money in your employer pension plan and/or your RRSP so that you can live an adequate lifestyle in retirement. You are concerned, however. Living...

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Provincial and Territorial Programs for Low-Income Seniors

Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) are the two major federal programs that provide financial assistance for Canadian seniors. OAS is available to almost any qualified resident or citizen of Canada although it can be reduced depending on years of residency...

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