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budget

What impacts you most in the 2017 Budget?

on Sun, 03/26/2017 - 21:23

We had our Federal budget out last week, so what does it mean and what impact does it do to you as an individual?

- Canada Caregiver Credit

The Budget proposes to simplify the current caregiver credit system by replacing the Infirm Dependent Credit Caregiver Credit and Family Caregiver Tax Credit with a new Canada Caregiver Credit. The new credit is consistent with the amounts that could have been claimed previously and better targets those who need it the most.

- Disability Tax Credit

The Budget proposes to add nurse practitioners to the list of medical practitioners who can certify

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What is the most urgent financial resolution for YOU?

on Tue, 01/05/2016 - 04:19

While the new year just rolled around, most of us would have thought of a "new year resolution". Regardless what is your resolution, improve your finances should be a part of it. Improve - there is always room for improvement :)

No matter where you are financially, you should start/continue to save in TFSAs, since our Liberal government had rolled back our 2016 TFSA contribution room, if you were 19 in 2009 (and had done absolutely nothing on it), you would have accumulated $46,500 TFSA contribution room by now.

How do I save when I have no money left?!

on Tue, 04/08/2014 - 20:20

Isn't this a line you have in your head when your financial advisor suggests a saving plan for you? If you don't have a financial advisor, isn't that a line you have in mind when you read stories on how people managed their finances on the paper?

Yes, it does sound impossible when you have no money to SAVE. How? I mean, seriously, HOW?

Here is how: Pay Yourself First

This is an old rule but it is the golden rule that works. Treat yourself as a bill payment that you cannot afford to skip (like a mortgage payment). Put all expenses down including yourself and then create a budget.

Lots of

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Business budget made easy

on Sat, 08/10/2013 - 20:56
"Entrepreneurship and Small Business" series, #7 (#6 The advantage of a business account; #5 How to pay yourself effectively; #4 How to manage your business; #3 Things to consider when you start your business; #2 What you should do before you quit your full time; #1 What needs to be prepared before you start your business; #8 Last minute tax saving for corporations; #9 The federal disaster to small businesses and working class
 
Lots of business owners asked me: how do we manage our business finances?? How do we come up with a calculation of how much we spend on marketing (that's the

We are being affected and we don't even know how...

on Sun, 10/21/2012 - 19:26

On March 29, 2012, the Federal Minister of Finance, Jim Flaherty, presented the government’s budget. The budget proposes technical changes to a life insurance policy on its tax exempt functionality. That rule particularly impact the life insurance policies issue on or after 2013. I had been trying to "wait and see", to understand whether any insurance company would release any memo or article in regards to this.

Every story has 2 sides

on Tue, 01/31/2012 - 10:04

It is a very interesting morning… 680news featured on 2 pieces of news regarding Holiday spending… One says: RBC survey found 31 per cent of Canadians spent more than intended during the holidays; the other one says: majority of Canadians managed to keep their holiday spending in check

 

The 2 pieces of news are actually came from the same source, the same survey by RBC, which the press release titled "RBC Poll finds most Canadians stayed on budget over the holidays". As you can see, the same story can play different angles, all depends on how the report/editor wants to present it.

 

I

How to choose the correct policy and juggle between your budget

on Thu, 11/10/2011 - 07:34

Haven't writen another blog for some time, it was quite busy and also attending the Small Business Summit had added extra pressure and workload as well....

Anyway, in order for you (the readers) understand how I function, I decided to write about the process of how I structured an insurance plan for a client....

So, this is a referral from another client, she was 53 at the time and she told me that her term policy would be up very soon. Considering her mortgage and everything, we decided to check the pricing of $300K coverage.