U.S. citizens living in Canada not only have to file Canadian tax returns reporting their worldwide income, but they also have to file U.S. tax returns reporting the same income. That’s because the U.S. imposes taxes and filing requirements based on citizenship, not residency. To make matters worse, if the
Scrutiny of the financial industry has been on the rise in recent months, fuelled in part by CBC News reports alleging unscrupulous practices at Canada’s big banks. The CBC’s findings may not have been surprising to insiders, who have been witness to the industry’s indiscretions for years. What is surprising
The world’s fastest-growing developed economy has the worst-performing stock market, creating buying opportunities especially for investors in Canada’s financial sector. The S&P/TSX Composite Index is down 2.2 per cent from April to June, set for its first quarterly drop since 2015 and the steepest decline among 24 advanced markets tracked
A couple we’ll call Harry, 35, and Tina, 37, are thriving in their careers. Harry, a geologist with a large company, brings home $5,730 a month. Tina, a management consultant in the chemical industry, adds $3,880, for total monthly disposable income of $9,610 a month. They have a two-year-old child.
Canada’s first cannabis mutual fund is cutting back on pot stocks. The UIT Alternative Health Fund has pared its holdings in recreational marijuana companies to 33 per cent, from 44 per cent at the end of 2017, while raising cash and shifting to health-care stocks like Jamieson Wellness Inc. and
When markets are good, advisers and portfolio managers get too much credit for investment returns. Clients are happy that their nest egg is growing and attribute their good fortune to their provider. Conversely, when markets are bad, investment professionals take the heat. Whether it’s fair or not, it happens a