Canadian parents are not taking full advantage of RESP grants

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Sep 15, 2017

The majority of Canadian parents do not take full advantage of opportunities when it comes to saving for their children’s post-secondary education, says a new Ipsos poll conducted for Knowledge First ... Continue reading

Post-secondary students will owe an average of $30,000 by graduation

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Sep 15, 2017

Three quarters of Canadian students believe they will need to supplement their education with further training after finishing their degrees, despite spending an average $14,000 a year on their educations... Continue reading

Most employed Canadians falling short of retirement savings goals

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Sep 15, 2017

Despite some signs of economic improvement over the past year, most employed Canadians are no better off when it comes to their retirement prospects, according to the Canadian Payroll Association’s ninth... Continue reading

Key interest rate rise announces difficult days ahead for many borrowers

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Sep 15, 2017

The Bank of Canada’s decision to hike its key interest rate from 0.75 per cent to 1.00 per cent last week announces difficult days ahead for households that lack a savings buffer, according to Richard... Continue reading

CRA warns against tax protester schemes

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Aug 22, 2017

The Canada Revenue Agency (CRA) has issued a warning against tax schemes that claim individuals do not have to pay their taxes. Those who sell and promote such schemes are referred to as “tax protesters... Continue reading

Economic optimism continues to rise

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Aug 22, 2017

An increasing number of business leaders are optimistic about the prospects of the Canadian economy over the next 12 months, according to a new survey conducted for the Chartered Professional Accountants... Continue reading

CRA warns against wages to loan tax scheme

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Aug 22, 2017

The Canada Revenue Agency has issued a warning about schemes where promoters are telling participants they don’t have to pay tax if they turn their wages or salaries into non-taxable loans. In the warning... Continue reading

Students who fund their own educations gain financial confidence

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Aug 21, 2017

Students that receive less than a quarter of funding from their parents feel more confident when it comes to financial decision-making. In addition, they are more likely to make and stick to a budget,... Continue reading

Three quarters of parents would give money to their adult children to help them move out

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Aug 01, 2017

Seventy-six per cent of parents with adult children say they would give their children money to help them move out, get married, or move in with a partner, and nearly half of them said they would give... Continue reading

Proposed tax changes raise uncertainty for small businesses, says CFIB

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Jul 26, 2017

The Canadian Federation of Independent Business (CFIB) has raised concerns over the federal government’s proposed tax changes, announced by Finance Minister Bill Morneau on July 18. Although the government’s... Continue reading