A colleague of mine was diagnosed with brain cancer today and when I asked whether he had a critical illness policy, he said "NO! Can you believe after all these years of telling clients how important this insurance is, that I did not stop to put my own policy in place." And then he called himself … [Read more...]
What does Ontario Tax Harmonization, or OVAT (Ontario Value Added Tax), mean for your family?
People in Ontario are about to be hit with rising costs in a big way. It is difficult enough to deal with all the financial stresses in this current recession without the government adding more to our plate. Increased taxes are one of the last things Ontarians can afford and yet that is … [Read more...]
RRSP Contribution Deadline is March 2, 2009
Next Monday is your deadline for making an RRSP contribution that will count towards your 2008 tax return. I want to make an important clarification on how much one is able to contribute. If you look at your Notice of Assessment, which is the document that you are sent from CRA after you … [Read more...]
School Money Management
It is shocking that kids today can get all the way to university without taking any course on personal financial management...in fact, if it's not elected in university, it can be avoided completely. I'm not talking about a high school economics course, I'm referring to real life, how to … [Read more...]