Take Control of Your Tax Bracket

I hope the Canada Revenue Agency doesn’t come after me for writing this post If too many people read this article then our government will never have a balanced budget lol. Since it’s that time of year again the topic I’d like to discuss today is income tax, and how rich people are able to dramatically reduce their taxable incomes because they understand that tax brackets are a moving target, and we all have the ability to manipulate our income tax rates as we see fit…

The Olympics of Investing

The Olympics have been at the top of many peoples mind as athletes from around the world congregate in Sochi to compete in events that they have been preparing their whole lives for. It is an exciting time that instils pride in ones country and an opportunity for the host country to showcase all of its accomplishments. It is also a period that requires a large amount of planning, as host countries need to be able to handle an influx of visitors who will for the most part all be concentrated in a relatively small geographic region. With this in mind, it would make some wonder if there is an investment opportunity related to countries that host Olympic events.

Having A Car Is Expensive

Back in the fall, I wrote a post called How much is your car costing you?, where I calculated that I was spending around $300/month for gas and insurance (11% of my net monthly income). And that didn’t even include maintenance like oil changes, repairs, or the actual cost of buying the car.

Even though I concluded that having a car was a clear “want” and not a “need,” I still depend on my car to lead the lifestyle I want for myself. Deciding to live in the suburbs, that’s the choice I made. And it’s the right choice for me now, but I’m not sure if it’s the right choice for me in the future…

Canadian Housing: What We Should Know

A couple days ago I talked about Canadian housing premiums and the cost of life when purchasing a home. A few of the points I brought up should have been obvious but the reality is many of us really are stuck in the monthly payment trap.

I have no real answer when it comes to home buying especially if you live in one of the major cities in Canada. What I do know is that I still want to have a life when I buy a home, I have no interest in being a slave to my mortgage.

XIU is Hard to Replicate Cheaply

Some of my readers ask why I bother with ETFs when I could save the MER costs and buy the index stocks directly. For example, instead of owning the popular iShares index fund XIU, why not save the 0.18% per year and buy the 60 Canadian stocks that make up the index this ETF tracks? The short answer is that replicating XIU cheaply is difficult….

Myths About Your Taxes

After reading countless similar posts allow me to add my own obtuse point of view on doing your taxes and what I have observed over the years from various friends and acquaintances and some of their misinformation about the CRA and Income Tax.

If you don’t owe money, you don’t need to worry about getting your taxes done in time

First, how the heck do you know that you don’t owe money, if you haven’t done your taxes? If you have done your taxes, and know you don’t owe money, then why don’t you just file your taxes?

Yes, usually the CRA won’t hunt you down if they owe you money, but why do you want to loan the CRA (and thus the government) money if they owe you money?

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