| Donating
"in-kind" |
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It's now been just over one year since the federal government changed the face
of philanthropy in Canada. You'll recall that on May 2, 2006, the government completely
eliminated the capital gains tax on donations of listed shares, mutual funds and
segregated funds to registered Canadian charities. This year's federal budget
extended this rule to donations of eligible appreciated securities to private
foundations.
Donors have been taking full advantage of the government's new rule to benefit
charities. A recent study released earlier this month by Craig Alexander, vice-president
and deputy chief economist with TD Economics, entitled Donating Securities Makes
Good Financial Sense, demonstrates how the tax benefits have increased the potential
for this type of charitable giving.
Use the Read
More link to view the complete article. |
New
tax breaks for seniors
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If you were 65 years of age or older on December 31, 2006, you may be eligible
for new tax breaks. As of January 1, 2006, the maximum federal age amount credit
increased from $4,066 to $5,066, says Bill Hyde, CA, a Partner with Millard, Rouse
and Rosebrugh LLP in Brantford. "If your net income for 2006 was less than
$64,043 you can claim some portion of this amount; if your net income was less
than $30,270 you can claim the full $5,066."
The federal pension income credit has also increased. "Before 2006, you were
able to claim a credit on the first $1,000 of eligible pension or annuity income,"
explains Anne Chun, CA, of North York. "Under proposed legislation, the maximum
amount of eligible pension income that can be used to calculate the credit has
doubled to $2,000."
Use the Read
More link to view the complete article. |
| Lessons
in Asset Allocation |
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Most investors want to invest their capital in a way that will give them an above
average rate of return but that will also pose minimum risk. After all, most of
us sacrifice a great deal to save money. We do not want to place that capital
at risk unless it can be substantiated by the return. One way to reduce risk is
though the proper allocation of asset classes within our overall portfolio strategy.
To illustrate this point, the following is based on a study conducted from 1987
to 2002 of asset allocation models. The graph compares the growth of $1 invested
in three portfolios, one containing all bonds, one all stocks and one with 50
per cent stocks and 50 per cent bonds. The resulting wealth for the 50/50 per
cent stock/bond portfolio is closer to that of the all-stocks portfolio, yet its
path was much smoother. Most investors strive for this approach.
Use the Read
More link to view more information. |
| Buying
and selling stuff at a garage sale can be damaging to your health and pocket book
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Did you know everyone holding a garage sale is legally responsible for ensuring
that products sold, whether new or used, are safe and meet current safety standards?
It is important to only sell items that are in good condition. Damaged articles
should be discarded. Before selling a product at a garage sale, check with the
manufacturer to see if it has been recalled and if the problem has been corrected.
If it has been recalled and the problem has not been corrected, do not sell the
product. Destroy it and throw it away.
Use the Read
More link to view the complete article. |
| Getting
a grip on Cellphone charges |
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Choosing a cellphone may be challenging. There are lots of choices out there,
and consumers want to pick the options that best meet their needs, at a fair price.
But often, the choices offered can seem like apples and oranges, and comparing
them can be tricky. When choosing a cellphone and cellphone service plan, you
need to know how much you are prepared to spend each month, know what want and
need and what kind of user you are. Knowing this will help you ask the right question
when shopping for a cellphone or cellphone service plan.
Use the Read
More link to view the complete article. |
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Today's
Market Rates |
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Taken from the FiscalAgents.com
Money Centre, as of 5/28/07
| Term
Deposits |
4.26%
|
Annually,
90-119
Days, $50,000 |
| GICs |
4.75%
|
| Annually,
4 Year, $5,000 |
| Maximum
Rate |
4.75%
|
| Annually,
4 Year, $10,000 |
| RRIFs |
4.75%
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| Annually,
4 Years, $50,000 |
| RRSPs |
4.75%
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| Annually,
4 Year, $5000 |
| Savings
a/c |
3.85%
|
| Daily |
|
Click the link below to view our best-offered rate table.
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Mutual
Fund Statistics:
April
2007 |
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| Assets
under management: |
| $699.7
billion |
| Net
sales (excl.reinv.distr.): |
| $2.5
billion |
| Fund-on-Funds
Assets under management: |
| $103.6
billion |
| Fund-on-Funds
Net Sales (excl.reinv.distr.): |
| $2
billion |
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