Business & Finance articles

What you need to know about inheriting or transferring a foreign pension

What you need to know about inheriting or transferring a foreign pension

An IRA can be transferred, tax-free, to a Canadian RRSP, but it’s complicated and not always worthwhile.Karen Bleier/AFP files The biggest tax bill upon death for many Canadians arises from the mandatory inclusion of any remaining RRSP or RRIF funds as income on their final tax return. The tax law states that, absent a qualifying

When does a separated spouse have to pay rent to an ex?

When one spouse leaves the house, does the one left behind have to pay rent?Associated Press It is not unusual for one spouse to move out during a separation, leaving the other spouse in the home. The one staying in the home might even live there for several years until the property issues are settled.

With low income and little savings, selling rental property this couple’s best bet on road to retirement

Situation: Low earned income, low investment returns and hefty disability payments keep couple afloat. Solution: Raise investment income, extend husband’s work part time to build savings, cut spending. In Alberta, a couple we’ll call Phil, 65, and Celeste, 56, are moving toward retirement, pushed by age and health issues. Phil, a financial services manager, wants

Three ways to leave a legacy through charitable giving

Prince Harry and Meghan Markle have requested that their wedding guests forego traditional gifts in favour of charitable donations.John Rainford/ In just a few weeks, the world will watch as Prince Harry and Meghan Markle marry in front of 600 invited guests and an additional 2,640 members of the public at Windsor Castle. Not even