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Second Quarter Financials

The COVID-19 pandemic has helped to create a $500,000 deficit for the City ... federal government, through its new Safe Restart Agreement with Ontario ... It also received all of its federal gas tax revenue for the year ahead of time in ... Source

Are you embracing the third wave of financial planning?

“It’s going to need to complement their strategy and help them communicate their own unique value proposition because differentiation is key. Advisors are now going to be able to give truly holistic advice and deliver top-notch client experiences guiding their clients from beginning to end, basic to advanced, when it comes to their overall financial plan as time goes on.” NaviPlan, in anticipating the third wave, began to explore the concept in 2019, asking the industry for its views. Opinions were all over the map. Many people said planning tools weren't modular enough, other said that there's still nothing flexible...

'At this point, downside risk is just as high as the upside potential'

Wilfan said it’s also vital for investors to understand the primary driver behind the rally. “It’s the Fed pumping trillions of dollars into the economy, a lot of which eventually finds its way into the stock market,” he said. “They’re not planning to stop anytime soon, so it makes sense for the stocks to keep pushing higher. Where it all ends, I’m not sure. But at this point, the downside risk is just as high as the upside potential.” The investment analyst highlighted opportunities away from the day-to-day swings of the market. The first is gold, which went above $2,000...

COVID-19 and the resiliency of impact investing

It’s not just impact portfolios that are performing well. Impact investors continue to deploy capital for good during the pandemic, unlike the majority of investors that have adopted a holding pattern amid the uncertainty. Impact investors are helping companies and organizations scale up in response to the pandemic, while also aiding recovery efforts and building the resiliency of economies and communities. SVX has been working with partners across the country to provide a pathway for the federal government, foundations and corporations, to respond to the social and economic impacts of COVID-19.  Following research and community engagement, three key actions were...

Canadian firms seeking creditor protection at record pace

Similar to Chapter 11 bankruptcy filings in the U.S., CCAA proceedings are a legislated last-resort measure that allows a company owing at least $5 million to file for protection from creditors. The company may then restructure their business, or oversee an orderly wind-down of the business with assets being sold to pay back any entities to whom it owes money. Citing numbers kept by the Office of the Superintendent of Bankruptcy Canada, CBC News reported that the May and June records of 10 and 12 companies initiating proceedings, respectively, top the previous high of nine set in December 2011. While...

Canadian sustainable fund inflows slow in Q2

From an asset perspective, the first half of 2020 closed with Canada-domiciled sustainable investments at $8.8 billion, a 13% increase over the end of 2019. Still, it’s just a sliver of the global market, which amounted to US$71.1 billion at the end of H1. That parallels a separate analysis by National Bank, which found ESG ETF assets amounting to $2.7 billion by the end of June following a record $1.2 billion in year-to-date inflows. As a share of the total Canadian ETF marketplace, ESG ETF assets amounted to just 1%, but they accounted for 5% of inflows in the first...

Canadian regulators finalize amendments to syndicated-mortgage regime

Louis Morisset, CSA Chair and president and CEO of the Autorité des marchés financiers, said the changes “[enhance] investors’ ability to make informed decisions about these investments and [enable] registrants who distribute these products to better fulfil their obligations. In consideration of the COVID-19 pandemic’s impact, stakeholders are given an extended implementation timeline of up to March 1, 2021, at which point the final amendments will officially take effect. In a parallel announcement, the Financial Services Regulatory Authority of Ontario (FSRA) also announced that it is consulting on proposed guidance outlining its approach to supervising mortgage brokerages and administrators engaged...

Global economic sentiment still negative, but slowly improving

North American respondents appeared more bearish than their global peers. Starting from an April low of -38.1, their sentiment on the global economy’s three-month outlook significantly improved in May to -26. But the subsequent survey showed little improvement, creeping up marginally to -24.5. On average, respondents’ attitudes with respect to their own region’s economy traced a more staggered trajectory. Globally, respondents’ economic outlooks on their home region averaged out to a sentiment score of -36.8 in April, improving slightly to -32 in May and a much less negative -17.8 in June. A similar story played out among North American respondents...

Home rental market could face challenges but sales remain strong

The Toronto Regional Real Estate Board (TREBB) reported that there were 11,081 sales through its MLS system last month, up 29.5% from a year ago to set a new record for the month of July. Low-rise homes were most in demand. The overall average selling price was up by 16.9% year-over-year to $943,710. “Competition between buyers continued to increase in many segments of the GTA ownership housing market in July, which fueled a further acceleration in year-over-year price growth in July compared to June. On top of this, we also experienced stronger sales growth in the more-expensive detached market segment,...