Loonie Hits $1.02 US

Loonie Hits $1.02 USThe Canadian dollar climbed above the $1.02 US level for the first time in seven months on Friday as the currency continued to rally following the Bank of Canada’s recent shift to a more hawkish tone and U.S. GDP figures disappointed the markets. The loonie traded as high as $1.0204 before easing back to close at $1.0194, a gain of 3/10ths of a cent from Thursday’s close. Data from the…

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Do Gasoline Prices Go Up Before Long Weekends?

Do Gasoline Prices Go Up Before Long Weekends?As much as we love our long weekends, the longstanding complaint is gas prices will go up and the weather will be lousy. True to Murphy’s law, gas prices jumped up prior to the Easter long weekend. We were on holidays driving south to Salt Lake City where prices in the US also jumped.  As we were driving, even I jumped on the bandwagon asking my wife why gasoline prices…

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Making Income Tax Returns Simpler is No Simple Task

Making Income Tax Returns Simpler is No Simple TaskAlthough many people say Canada’s income tax system is overly complex — a realization often reached as they struggle to compile T4s and calculate federal and provincial credits — coming up with ways to reform it isn’t exactly a cakewalk either. The system has grown over the decades to include a host of provisions, tax avoidance language and credits that provide tax relief for particular groups of Canadians, ranging from…

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Eggs, Baskets, and Diversification

Eggs, Baskets, and DiversificationIt’s almost Easter and many of us have thoughts of eggs and baskets running through our heads. Everyone’s looking forward to enjoying a little chocolate and some quality time with family and friends. In terms of finance, however, we often speak of eggs and baskets in the context of diversification. Diversification means spreading your investments among asset classes that are less correlated with one another. You can put some of…

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5 Benefits of a Flat-Tax System

5 Benefits of a Flat-Tax SystemA common refrain during tax season is that the whole system of credits and sliding rate scales is just too complex. One of the ideas that has cropped up in recent years is to replace the system with a simple flat tax, but it turns out to be a whole lot more complicated and controversial than it might seem at first glance. On the plus side, imagine filling out a…

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