A Tax-Free Savings Account (TFSA) is a registered tax-advantaged savings account that can help you earn money, tax-free. You can think of a TFSA like a basket, where you can hold qualified investments, that may generate interest, capital gains, and dividends, tax-free. ...
Providing the loan is put towards a taxable investment account, the interest is tax-deductible by the lower-income spouse, and the investments will face lower taxation. The higher income spouse would need to report the interest income when filing taxes. How much is the interest on a spousal...
Providing the loan is put towards a taxable investment account, the interest is tax-deductible by the lower-income spouse, and the investments will face lower taxation. The higher income spouse would need to report the interest income when filing taxes. How much is the interest on a spousal...
Understand Canada’s banking and financial environment and make financial decisions that are right for you.
The amount you pay as a down payment is important because it will affect your total mortgage amount — which also affects how much you pay in interest over the life of your loan. A larger down payment will reduce the amount you have to borrow from your lender. That means a lower loan ...
If there is an existing mortgage or other debt, it would make sense at this point to take the extra cash flow to pay it down. Even though interest rates are relatively low right now, it’s a guaranteed after-tax return, and rates will likely be higher during renewal time. After all,...
As of 2015, themaximum annual contributionto a TFSA is C$10,000. Unlike with a Roth IRA, you can contribute this amount to your TFSA even if you have a high income. The TFSA uses a concept calledcontribution room, which is the sum of your current annual contribution limit, previous-yea...
Federal Direct Subsidized Loans:These loans are offered by the U.S. Department of Education to undergraduate students with demonstrated financial need. The interest on these loans is subsidized, which means the government pays the interest while the borrower is enrolled in school at least half-time...
Put optionsgive you the right tosella stock at a certain price on or before the expiry date. They’re useful if you think a stock is going down, because they let you sell shares for what could be more than the market price. The majority of the most popular securities have options avail...
Banks will then set a price range for the IPO based on the company’s financial information, prospects for growth, and the expected demand from investors. However, the final price will ultimately depend on the actual demand from investors. If demand is high, the IPO price will tend to go ...