Things You Should NOT Pay for

Things You Should NOT Pay for

Number 1: Bottled Water Why spend more money on bottled water, while tap water straight from home is just as good or sometimes even better? Although tap water is not exactly free (since you do have to pay an annual utility fee to local government for water service), it’s way cheaper than bottled water....

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Top Family Incomes in Canada by City and Province

Top Family Incomes in Canada by City and Province

Statistics Canada released a new report this September on average family income for year 2008. Families included in this report refer to couple families, with or without children, and lone-parent families. Once again, families in Alberta earn fairly well, ahead of other provinces. However, the statistics is based on info prior to the recent...

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Tax Saving Tips for Business, Professional Corporation

Tax Saving Tips for Business, Professional Corporation

Income taxes are the biggest expense for most Canadian. If you have your own business or professional corporation, your company can help generate tax savings to accelerate your mortgage repayment or boost your retirement savings. Use Capital Gains Instead of Dividends If you are planning large cash withdrawals from your company, consider taking the...

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Switzerland topple USA as most competitive economy

Switzerland topple USA as most competitive economy

Swiss beat USA in economy? I’ve never thought a small country will take over USA as the most global competitiveness. The first one on my mind to beat USA is Japan. : D Canada ranks No.9. Not bad, not bad. Rank 1 2 3 4 5 6 7 8 9 10 Country Switzerland US...

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Line of Credit: prime rate, base rate, variable rate

Line of Credit: prime rate, base rate, variable rate

Recently, I went to Bank of Montreal to apply a line of credit. I thought the prime rate was pretty low currently at 2.25%, so perhaps it would be a good time to apply for LOC. However, I was wrong. When I got the reply from BMO, the financial officer told me that if...

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Tax Free Shopping Days?

Tax Free Shopping Days?

Our fellow neighbour enjoy tax-free shopping days. Some states are waiving local sales tax on school items like computers and clothing, as indicated on Yahoo! Shopping. How come we don’t have any tax-free day in Canada? Back To School Shopping The following states allows tax free shopping on school supplies, computers, and clothing: •...

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Average Monthly Household Grocery Bill

Average Monthly Household Grocery Bill

About three months ago, I posted an article on Average Monthly Grocery Bill. I was hoping people would comment on that article, sharing how much they spend on grocery with me and the readers. Sadly, people in Canada don’t like to share their thoughts, I suppose. I know a lot of people come to...

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Home Buyers’ Plan (HBP) – how to maximize this plan

Home Buyers’ Plan (HBP) – how to maximize this plan

Before we begin this topic, we will briefly discuss how HBP works. Then we will talk about how to maximize this tax-saving strategy toward the end of this article. Home Buyers’ Plan (HBP) allows first-time homebuyers to withdraw RRSP to purchase or build a home without having to pay tax on the withdrawal. RRSP...

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How to Host the Perfect Yard Sale

How to Host the Perfect Yard Sale

Summer is here. Guess what…it’s time for garage sale. How do you turn your junks / clutter into cash efficiently and effectively, in terms of customer number, percentage of items sold, and amount of money made? Here are some creative ways and fast secrets to increase your sale and profit from your yard sale...

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Feature Story

How Much Do Members of Parliament Earn Annually?

Prime Minister makes $317,754 each year at least plus benefits. More salaries can be given if Chief Government Whip and Caucus Chair are part of....

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Top Financial Stories

How Much Do Tim Hortons Owners Earn Annually?

Tim Hortons store owner pockets each year: $265,558 and more (after tax & interest)!!! In year 2002 for an average Tim Horton's outlet: Gross earning: $1.5Million...

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