Comments for MoneySense

Comment on Tax deductible expenses when selling a cottage in Canada by DOUGLAS KELLY

DOUGLAS KELLY — Tue, 20 Aug 2024 20:30:42 +0000

I have a vacation cottage which I have owned for 25 yrs. I have made many receipts for the improvements to the building and fencing etc. My concern is these receipts have all faded out and you can’t read them anymore, so how can I prove my capital expenses against my capital gains?

Comment on What happens if you don’t use your credit card? by Abdullah Adam Mussaji

Abdullah Adam Mussaji — Tue, 20 Aug 2024 18:11:42 +0000

Would these pros and cons apply to basic credit cards with No annual fees.
Please clarify/
Adam

Comment on Best used hybrid sedan: Toyota Corolla Hybrid by Richard Gagnon

Richard Gagnon — Tue, 20 Aug 2024 16:26:28 +0000

Let’s get one thing straight: Hybrids are not at their most efficient in stop & go driving. This is a myth propagated by journalists for decades. Like any car, accelerating from a stop uses the most fuel. Will a hybrid use less fuel than a normal car in stop & go? Yes, but the fact of the matter is that hybrids are most efficient at urban expressway speeds (i.e. 60-90 km/h) with as few stops as possible. It is under these conditions that hybrids will do better than their fuel economy ratings, often considerably. In stop & go, hybrids, like all cars will almost never meet their CITY fuel economy rating.
These comments are driven by my experiences driving a 2013 Ford Fusion Hybrid for over 270,000 km and from comparing these experiences in conversation with many other Ford, Toyota, and Honda hybrid owners, including two who work for the company whose cars they drive.

Comment on Can I sell my cottage tax-free? by Paul Janicki

Paul Janicki — Tue, 20 Aug 2024 02:00:10 +0000

So you own a cottage (or any other second home or condo, for that matter); what is preventing this person from selling their primary residence without capital gains, move into the cottage or any other second home for a period of a few years and then sell the second property – would that be subject to capital gains?

Thank you,
Paul

Comment on Fractional trading puts pricey stocks within reach of new and younger investors by Sharon Barbour

Sharon Barbour — Mon, 19 Aug 2024 19:43:14 +0000

does it then cost you $9.99 to buy a $5 fractional share at TD?

Comment on Canada’s top-rated charities 2020: Methodology by Azariah Spears

Azariah Spears — Sun, 18 Aug 2024 09:39:18 +0000

I love how your posts are both informative and entertaining You have a talent for making even the most mundane topics interesting

Comment on Best online brokers in Canada for 2024 by Zakład pogrzebowy

Zakład pogrzebowy — Sun, 18 Aug 2024 03:54:09 +0000

Your post is an excellent resource. It’s clear, comprehensive, and very informative.

Comment on Top 25 timeless personal finance books by Tony Smith

Tony Smith — Sat, 17 Aug 2024 03:16:16 +0000

This is an excellent list, but it’s missing Thomas J. Stanley’s THE MILLIONAIRE NEXT DOOR, which is a timeless classic as relevant today as it was in 1996, when it was first published.

Comment on 3-year versus 5-year mortgage: How to choose your term by Abdullah Adam Mussaji

Abdullah Adam Mussaji — Fri, 16 Aug 2024 20:16:40 +0000

Great Directions – Nevertheless –

My Opinion – Under the circumstances 5 years Fixed Term would certainly be beneficial for an investment real Estate. The Landlord will legally be able to claim Interest tax credit.
Secondly, all mortgagees renewing after September 4, 2024 should examine the advantage
of 3 years variable option depending on their deposable cash flow. 3 years variable option will allow them to either pay off the total balance any time without penalty or lock up the balance into favorable fixed option.
Please Comment.
Adam