It looks like the Canadian budget has passed with the support of the Liberals (not surprising, it did appear to be a Liberal budget) and with it the current government will get to keep their seats for a while longer. Politics aside, how does this budget affect me?
First are tax cuts. The basic personal amount [...]
Entries Tagged as 'Planning'
Budget 2009 and Me
January 30th, 2009 · No Comments
Avoiding the Credit Trap
January 6th, 2009 · 4 Comments
Yesterday I told the story of Joe, an unfortunate victim who got caught in the jaws of the credit trap. Joe made liberal use of his credit to buy all the things he never wanted. Then watched as it spiraled out of control.
To be fair cheap credit can be a great thing. It is the [...]
The Credit Trap
January 5th, 2009 · 5 Comments
Joe, an average office worker, has been pre-approved for a $300,000 mortgage plus he has a three credit cards with a total limit of $25,000 and a constant bombardment for other ‘pre-approved’ cards. Joe earns $48,000 per year at his office job as a pencil pusher. After taxes and deduction Joe earns $3000/m. Joe’s favourite [...]
The Home Buyer’s Plan
October 24th, 2007 · No Comments
How Can I Take Advantage of the Home Buyer’s Plan?
If you’re looking into building or buying your first home and find you don’t have the money necessary for a down payment, you still may have some buying power, that is if you hold RRSPs. According to the Canada Revenue Agency, you may possess the ability [...]
Plan for an ESPP
September 27th, 2007 · 1 Comment
The Canadian Capitalist posted today about how Employee Stock Purchase Plans are taxes. Particularly, he points out that any discount you receive on the stock purchased is taxed as employment income (i.e., at 100%), whereas any gain (between the market price and your selling price) is taxed at the capital gains rate of 50%.
I thought [...]
