This post is the second in a series of updates on my HELOC investing experiment. My last post was in March 2024 and things were looking good. Click here to see post. Lots has changed in almost a year. The Bank of Canada (BOC) cut interest rates 5 times since the beginning of 2024. This…
Category: Tax Benefit
How The RRSP Can Help You Reach Financial Independence
Retirement is a relatively new concept for humans. For thousands of years people would contribute to their communities in whatever ways they could until they died. But not in this modern day and age. In today’s society, the general retirement age is considered to be about 65. The expectation is that a person works for…
The Ins and Outs of Canadian Eligible Dividends
Most people earn their money through employment income. They work for a private business, corporation, government, or are self-employed. It doesn’t matter who you work for. When you work, you pay the highest amount of tax as a percentage of your income. I naively thought that everyone paid the same percentage of taxes. I thought…
Everything You Need to Know about the Child Tax Benefit
When we decided to have kids, I had no idea the government gave out tax free monthly benefits to help support raising children. The program that supports families is called the Canadian Child Tax Benefit (CCB). It was easy to apply for because the nurses gave me all the papers in the hospital room after…