Build Your Wealth in Canada
You may have been asked for a void cheque at some point. But what is it, and why do people request one? Employers, banks, or even landlords often request void cheques when someone needs to access funds from your account. From needing to deposit money from your employer onto your account to renting an apartment …
Writing a cheque can seem intimidating, especially if you’ve never done it. But it’s 2023, so why are people still writing cheques?! In Canada, there are still certain instances where writing a cheque is necessary. Perhaps the most frequent one is paying rent. If your landlord asks you to write them a cheque for rent, …
Winning the lottery is a dream come true for many people. When you buy those scratch tickets, you are taking a real risk with your money….but what if it pays off? What would you do if the ultimate dream happened and you became the latest jackpot winner in Canada? It’s easy to be overwhelmed when …
Scotiabank High-Interest Savings Account Review The Scotiabank Euro Interest Savings Account requires a daily balance of 200 euros and a waived monthly fee of 1 euro, and the account is free for seniors. However, if you are over $1,000, you are not entitled to interest. The Scotiabank TFSA Savings Accelerator account offers interest …
Higher education is steadily rising, which means many young people graduate with vast amounts of student debt. Making the most of every dollar saved is essential if you work hard to alleviate the burden of covering partial or total payments of your child’s education post-secondary level. All saving strategies do help, but particular education savings …
One of the main reasons investors prefer to invest in mutual funds rather than buying individual stocks or bonds is that diversification would be much easier for them to achieve. If you are willing to take additional risks to earn more, then the next option you can consider is an investment fund. Many people buy …
Simplii and Tangerine are pretty similar when it comes to their digital banking product offerings. Still, some differences may help you determine the best option for you. Read our Simplii vs. Tangerine guide below to see how these banks are similar, what features separate them, and which might be a better match for your unique …
So you’ve received a payment in your bank account labelled “Canada RIT Deposit” or “Canada RIT.” This transaction is related to your tax return, which may be good or not as good as you thought. What is Canada RIT? Let us explain the Canada RIT meaning so you can understand what it is and what …
What is “Canada RIT” Meaning? What You Need to Know. Read More »
By credit, a note referring to documents, or a note of credit, to lower the balance of the account of the customer or client. A credit memo, or credit note, is a note that is sent from a financial institution to a customer, notifying the customer of a gradual change to their account balance. In …
While the precise criteria for what constitutes day trading inside a TFSA is somewhat murky, below are a few factors that we know the CRA looks at when determining if the gains from a TFSA qualify as a trade or investment income. The following section will discuss some factors that the CRA will consider when …
