I’m sure by now you’ve all seen the uproar on the internet about how CRA blocks your calls at least a third of the time. Now that my stint in public practice is over, I figured it would be a good time to share the tricks of the trade I’ve used to make dealing with the CRA manageable.
With only 36% of calls actually answered it’s no wonder Canadians are frustrated with the tax system. Not only is that big book (aka The Income Tax Act) extremely challenging to read, getting someone to answer your questions can seem like an even more daunting task! Read more »
At the end of 2016, the Alberta government announced that the implementation of the carbon tax would occur on January 1, 2017. The first payment to individuals making less than $95,000 was January 5th, 2017. The second installment was paid in July.
There as a lot of negativity around the carbon tax, individuals griping that they wouldn’t be able to afford to put a roof over their house and therefore they would consider moving to Mexico (I’m not kidding). I wrote this post earlier in the year and the internet was divided. Some wholeheartedly agreed with what I had to say and other thought I was full of shit. Now that more than three quarters of the year have passed I figured it was a good time to figure out just how much the carbon tax has actually been costing you.
Three years ago I moved down to Calgary from my hometown Edmonton. I had been a client of Tangerine bank for a number of years before my move, focusing on their low bank fees and high-interest rates. Saving as a student had never been easier. One of the largest criticisms I found that Tangerine received was that there were no branches, and even some of the millennials seemed to have a hard time reconciling this. When I moved down to Calgary one of my first orders of business was to go and check out the Tangerine Café on 6th Ave. I was greeted by pleasant staff and, a warm cup of coffee and lots of orange swag. The Tangerine café has never felt like a bank to me, and over these past three years I’ve attended events at the café more times than I have gone in to do banking. Read more »
Our mind can play funny tricks on us, and weird things can happen that we don’t always understand we are falling trap too. We fall into a false sense of security which can mean making less than ideal decisions… and having too high of a bank balance can be one trap that causes you to spend beyond your means!
My sweet friend had a baby this fall and my dearest friend suggested that I should most definitely write something on the topic of RESP’s. Post-secondary costs are increasing constantly. What it cost me to go to University will not be what it costs my sweet children to attend. As Canadians, we are lucky that Post-Secondary has not jumped to the astronomical rates they have in the States, but it still costs a pretty penny. The fact that the average Canadian student is saddled with $30,000 in student loan debt is a huge burden to bear as a newly minted grad.
At the ripe old age of 20 I started investing. At first, it was kinda scary, but I’m glad I took the small steps I did in in order to gain comfort with investing. Six years later I can say that starting to invest when I was in my early twenties was the best thing I could have ever done. Setting up my nest egg, albeit small at first has allowed me to grow my wealth and reap the rewards of a bolstering portfolio.
You need to start investing, right now! If you’re confused about where to start, remember that you aren’t alone. Acknowledgement is the first step!