Funerals may result in financial obligations on top of an array of other duties such as grieving, dealing with legal documents, estate management, and even household chores. There is more to the bill than just a burial or cremation. Transportation, service fees, caskets and urns, cemetery fees, announcements, flowers, permits, and a memorial event may … Read more
A first home purchase in Canada usually takes several years of careful saving. The savings account where the money will be kept is crucial, but equally important are the assets in which they will be invested. A First Home Savings Account has a number of useful tax advantages, but keeping all the contributions in a … Read more
Savings may seem impossible, as groceries, rent, commuting, childcare, and insurance premiums consume most of the family’s monthly budget. Most Canadian families are aware that they need to have an emergency fund, yet creating the space for that in their budget is not always easier than figuring out the reasons why. Starting a savings program … Read more
The costs associated with settling an estate can differ widely throughout Canada since laws regarding probate, court costs, Estate Administration Tax, and succession law depend largely on the provincial or territorial jurisdiction. For instance, in Ontario, there is no Estate Administration Tax levied on the first $50,000 of the estate, but everything above it is … Read more
The Canadian healthcare system is referred to as being universal; however, this term does not imply that all medical services are available for free or that everyone gets the same level of access to care. Each province and territory has its own public Health Insurance program; thus, conditions for eligibility, health card regulations, wait times, … Read more
Most Canadian small firms prefer offering their employees employee benefits; however, it is not an easy process for such organizations to make the decision whether to opt for the Health Spending Account, Group Insurance plan or both. The significance of this decision lies in the fact that most of the companies that form the labour … Read more
Segregated funds have been increasingly talked about by Canadians looking for investment growth opportunities, estate planning advantages, and some form of protection against the possibility of loss due to market fluctuation. Segregated funds are certainly not new; however, they have become increasingly important as more and more people seek wealth protection strategies that provide growth … Read more
Retirement planning in Canada has become more personal, more layered, and more sensitive to timing. Some people want growth. Others want safety. Many want both, especially as they move closer to retirement and cannot afford large market losses at the wrong time. Statistics Canada reported that the median net worth of Canadian families was $519,700 … Read more
Many times, migrating to Canada involves starting several things afresh. The newcomer will require a rented house, cellular service, bank account, Health Insurance for newcomers in Canada, transport arrangements, employment references, and eventually credit options. However, despite having an exemplary credit standing back home, the individual’s credit record in Canada can end up being close … Read more
Most people look at the monthly premium first when they compare insurance. That makes sense. The premium is the amount that leaves your bank account every month or every year. But the premium is only one part of the real cost of insurance. The deductible can matter just as much, especially when a claim happens. … Read more