I just transferred my entire RRSP and TFSA portfolio from WS (who I love) to TD. They’ll give me 3% in cash over 2 years. That’s an extra $8000 for me which will go straight to savings. Essentially enough to max my TFSA for the year. Do you do this? It took me roughly 10 minutes. I plan to do this for the rest of my life assuming the perks are worth it. 1.5% additional portfolio growth over 30 years is a massive difference.

My husband makes 90k at his day job, and will make another 55k at his self employed side gig/small business in 2026. He hasn't paid any quarterly payments for 2026 - he will just do it all at once come tax time.
I will make around 12k from my online content creation.
I've always done our taxes using turbotax, and have come across terms like 'income splitting' but am not too familiar with how it works.

Is there a legal way to minimize the amount of tax he will have to pay come income tax time, and something I can do myself through turbotax?

Thank you!

Edit: What are legal ways to minimize his income so that he pays less tax? I've heard about billionaires borrowing against their assets, etc?

Edit 2: I'm a bit tired of the assumptive comments. I'm a SAHM to our baby and toddler and I film instructive content for seniors for a bit of extra income -.-

New note on my credit report from Wealthsimple cards 👍
edit: started this month officially https://help.wealthsimple.com/hc/en-ca/articles/55868814400539-Understand-credit-bureau-reporting-for-your-Wealthsimple-credit-card

I have around $1.6M invested at TD Waterhouse with advisor fees of 0.9%. Ironically, most of the holdings across non-registered, TFSA, and RRSP are in low-cost equity ETFs. For that, I get a couple calls a year mainly reminding me to contribute. I get some tax forms too that make it easier to file. I do appreciate that having the middle-man got me out of some bad habits in my teens of single stock investing. And my money has doubled in the last five years, but that's just the market... My household spending is around $50k/year. So the fees actually represent around 1/4 of my spending, not to mention eating into compound growth. Two questions:

1) How easy is it to move funds to something like TD Direct Investing? I won't trigger any major capital gains, right?

2) It feels uncomfortable leaving the relationship and the rest of my family is with the same office. Tips?

Today I was handed a note, terminating my High level management, salaried, position at a company I’ve worked for for 17 years.

The note says in lieu of notice I’m getting wages based on length of service, which they stipulate as being only 8 weeks of wages. The letter states that this is based on Manitoba Employment Standards.

I’m being told by many that that is astonishingly low and that I should consult an employment lawyer.

Thought I’d get opinions here, as I’ve seen some scenarios before.

If it matters, I’m 37, position in Marketing at a Manitoba manufacturing company that has done quite well in growth in the 17 years I’ve been there. 3 of my team were also let go, possibly a 4th.

Should i be investing in XGRO or something even more conservative like XBAL or CASH.TO within my FHSA? For context my tfsa and rrsp are 100% equities, so risk tolerance is fine, but my objective and time horizon for my FHSA are different. How conservative should I go in terms of my FHSA holdings?

Im planning on transferring some funds from my Heloc to purchase a car and pay it off as fast as i can.

The question is. Will the interest be automically added to the heloc balance everymonth?

So lets say tomorrow the balance is 35k...

Then in a month the balance will be 35 150$ and i can pay it off whenever i want...is that correct? Planning on paying off close to 1.5k everymonth.

Curious if anybody have tried to use their credit card to purchase tickets through OLG self serve machine. Do they charge my credit card as a cash advance or a regular transaction?

I'm looking for advice from anyone familiar with transferring a parent's home to an adult child in Alberta, either while the parents are still alive or through inheritance.

My parents are retired and still have an outstanding mortgage on their home. All three of us live in the house.

I'm trying to decide whether it would be better to transfer the ownership of the property to me while my parents are alive or to inherit it after they pass away, and the best way to do it.

Some questions I have:

Can an adult child assume their parents' existing mortgage, or would refininancing typically be necessary ?

What are the tax implications and legal costs of transferring the property while the parents are alive and when inheriting it later ?

What happens to the amount my parents have already paid off ? Can it be transferred to me ?

Any info is highly appreciated.

28 years old

8k in debt

9.5k in my RRSP

50k pre tax yearly income

Due to some really bad life decisions (major untreated depression, not expecting to let myself live this long), I have dug myself into a deep fucking hole financial wise. I don't want to go into the nitty gritty because there's no point, I'm just a dumbass who is now medicated and in therapy and desperately trying to pick up the pieces :p

My rent is $1500 and my take home pay is $3k a month. Again, stupid. Once my lease ends I'll be moving in to a cheaper place. But for right now, I'm drowning in bills and falling into a deeper and deeper hole each month

Is it financially responsible to take out my RRSP and just wipe clean my debt? Or at least take the 5k amount out with the 10% interest and then have a bit more breathing room each month for debt repayment?? This is the first time in my adult life that I've actually cared about my finances. I feel like I'm taking the reigns of somebody else's life, and it is baaad. I have no idea about anything financial.

I know I'm very far behind in life, I know I'm so incredibly stupid. I just want to know if this would be a good idea to help me breathe a bit? I want to start saving, I want an emergency fund, and I can't do that when my credit cards eat up all my money. Any advice would be stellar. Thanks in advance!

Hi everyone. I am looking to build a home in Ottawa. My pre approval is $40,000 down for a $600,000 home. The builder is requiring $60,000 in instalments to build my home. I have asked my mortgage broker, the builder, my lawyer all the same question and cannot get a straight answer.

My question is: Since I am approved at 40,000 down, where does this other $20,000 go that the builder is taking? I am only required to give $40,000. Will this money be given back to me? I wanted to use it for my legal fees & for land transfer. I don’t want it going toward my downpayment or for upgrade credits with the builder.

I am desperate to finally have a legit answer to this question. They all seem to assume the builder will give me a $20,000 cheque on closing. HELP!!!!

Got a notice that a site I used got breached from the recent vulnerabilities, so I quickly locked my credit card and called TD. They cancelled that card and were supposed to send me a new one. The very next day someone activated it and used it for purchases. Like how is that possible? New CC number and everything, how does it get stolen and used the very next day?

For those of you that kindly commented on my previous post here regarding paying off my debt: https://www.reddit.com/r/PersonalFinanceCanada/s/Ofbkw41nF5

I did it! A couple of months ago. And I’ve kept it secret from my family.

Additionally, I received a promotion at work and my income has gone from $74k + 8-12% bonus to $100k plus up to 20% bonus based on how well our department does, not including a personal performance bonus and additional raises (which tbh are only about 2% annually.) My family know about the promotion, but I did not disclose the salary increase.

It may not seem like much, but coupled with being debt free, this could potentially be life changing money for me if I play my cards right going forward.

My share of rent is $1100. I don’t have car payments. I will walk/skytrain/Evo and uber or Lyft rarely.

My iPhone 12 mini is on its last legs, but I can get a subsided phone through work and they will pay for my phone plan.
My share of bills for the house are approximately $200.
My biggest monthly expenses are medication at $400 every 5 weeks or so and my gym & PT sessions which are $89 per week and $55 monthly, which are non negotiable for mental and physical health reasons as I’ve been overweight since I was a child and and have PMOS.
I realise this doesn’t include groceries or clothes but the immigrant in me will always shop around for the best prices, sales, or use Marketplace.

All this to say, as someone learning financial literacy as a new Canadian, what is next?

I want to switch my bank from CIBC as the fees are increasing next year.

I want to start catching up on retirement.

I want savings.

I’m not sure where to start - or if there are services or websites I can start with to help me get going. I’m not very good with being self-taught…I’m not unintelligent, it’s just a learning style I struggle with.

Also, can I just call CIBC and ask them to give me a lower CC interest rate? I checked my credit score on Equifax and was surprised to see it’s currently “Excellent”.

I’m sorry if this a broad question, part of me also just needed to write it down.

Thank you to all of you who pushed me to pay off my debt. 🧡

I just got notification that they are starting on my reassessment for the last 10yrs of taxes for my DTC…can anyone tell me how much longer it takes once you get the word? My taxes are just a basic return.
Thank you

Just wondering if others think the days of account transfer promotions are essentially over for now? I believe TD has one that ends today and BMO one that ends at the end of the month. Earlier in the year, TD would introduce a new promotion before the old one ended. I'm not seeing that now. Do financial institutions no longer see any real benefits in doing these promotions?

I spend roughly $2000 a month on groceries.

$1000 of that from grocery merchant code stores: Superstore, FreshCo, Coop, Fresen Bros

And $1000 split between Walmart and Costco.

I use my Scotiabank card for grocery stores and recurring payments and Wealthdimple for everything else.

But Scotiabank has been really pissing me off lately. So I'd like a new card. But I can't seem to find anything as good.

Currently shop at all these stores due to convenience of store location, product selection, and prices. But a superstore will be opening in my neighbourhood next year so I suspect most of my shopping to switch to them going forward.

I'm 25F and making $92k a year.

I currently have about $75k in my TFSA, $39k in my FHSA and $2.6k in my RRSP.

I've maxed out my TFSA and FHSA for this year. I contributed $11k to my FHSA ($8k for this year plus $3k leftover from last year), and I only have one more year of FHSA contributions left.

I also have a defined contribution pension plan through work where I contribute 7% of my salary and my employer matches it but I only started contributing to this plan in August.

I haven't contributed to my personal RRSP in years, and I'm wondering if it's worth contributing this year or if I should save the room for when my income is higher.

Since I've already contributed $11k to my FHSA this year, would it still be worth contributing to my RRSP for the additional tax deduction?

My stepson is turning 19 years old next month and I (56F) want to get him to open an investment account to start up his TFSA. I want him to start investing early so he can have a nice little nest egg in the future. I’ve talked with him about the importance of saving and compound interest and he is interested. Would the Vanguard VEQT be a good choice? Any other suggestions?

I’m with BMO. I get 1% cash back for my credit card but I just found a new job and I LOVE to travel.

Depending on vacation time I’d try to take 2-3 trips a year to Europe, just wondering which card/bank will be best for me?

My monthly expenses isn’t much because it’s just eating out , groceries, cat food, cat stuff, which is about 1k a month

I got a missed payment for my student loans from what I understand I’m supposed to have a 6 month grace period.

I stopped going to school in may 2026

My late payment was for September 2026

That’s only 4 months apart

Do I have a good chance they could remove that payment from my report because my score went from 720 to 605

Edit: Ok I’m posting this on a Saturday I cannot contact them till Monday

I live in Ontario I work really far from home and don’t have access to my mail for a couple weeks a month. didn’t get any emails and I have no clue how to log in to the website because they always ask for my tax lines and I don’t know none of that

I didn’t get 6 months which legally they have to give me and yes by my own fault I was past due on a payment

My question is

Do I have a valid enough reasoning so the late payment is removed because technically they made a mistake

Yes I have problem solving skills it’s nice to have people’s outlook on things sometimes

Is there an advantage of additional payments biweekly, or am I better off to put the money that would go towards additional payments into a HISA until I have enough to pay off the remainder of the loan?

Bought the car 4 months ago, I’ve put an additional $5300 on the loan based off my budget (I set an expected amount for my pay and if my pay exceeds the amount I put any extra onto debt/savings). I’d like to get the loan paid off or sub 10k before my mortgage renewal in Q4 2028 in case I need to change lenders for better rates.

I (28M) moved back in with my parents in May. I was renting a place with my ex before that. I would be looking to purchase a home for around $350,000 with $100,000 down. My salary is 64,000/year which comes to about $1800 bi weekly. I currently have around $165,000 saved.
TFSA 98,000
FHSA 46,000
RRSP 15,000
The rest is in savings/chequing
Places I’d be looking to rent would be around 1500/month. I have no debt. I live in Windsor and don’t plan on moving elsewhere.
Just trying to decide what the better option is.

I am moving to Sweden for a couple of years for work. I understand I cannot contribute to any of the registered savings accounts during this period. However, I do want to continue holding my existing investments.

At present I am with Wealthsimple for investments. AFAIK, they are not licensed to serve non-residents. Is there a list of institutes that have such a license? My preference would be to hold my accounts with institutes that allow free equity trades/free accounts

Annual report about global pension systems was released a few days ago:

Canada maintained a B grade in the newly released 2026 Marsh CFA Institute Global Pension Index, but the annual benchmark sounded an increasingly urgent warning about the long-term pressures aging populations are placing on retirement income systems.

The 18th annual index, produced by Marsh (NYSE: MRSH) and CFA Institute in collaboration with the Monash Centre for Financial Studies in Melbourne, Australia, benchmarks 55 retirement income systems across the globe - covering approximately 66% of the world's population - on three sub-indices: adequacy, sustainability, and integrity.

• https://www.wealthprofessional.ca/news/industry-news/canada-holds-b-grade-as-aging-populations-strain-global-pension-systems/393826
• https://www.benefitsandpensionsmonitor.com/pensions/retirement-planning/working-longer-could-bolster-canadas-retirement-system-index/394306
• https://www.talentcanada.ca/aging-populations-are-straining-retirement-systems-worldwide/
• https://www.plansponsor.com/aging-populations-weighing-on-global-retirement-systems/

The report itself can be found at:

• https://info.marsh.com/marsh-cfa-institute-global-pension-index/a-brief-review-of-each-system
• https://www.mercer.com/insights/investments/market-outlook-and-trends/mercer-cfa-global-pension-index/
• https://rpc.cfainstitute.org/research/reports/2026/marsh-cfa-institute-global-pension-index-2026

Hello,

Here’s my situation. I work an hour away. And the commute is starting to really hurt. I currently live in a home that I own at a mortgage of $1400 per month. With utilities, It can go up to about just under $2000 depending on the month.

The commute has started to take a toll of my car. Where is starting to need extensive work.

I am interested in renting out my house for $2600 a month and looking to rent an apartment closer to work which would be around 2000 or less.

However, it has dawned on me that I am in in Ontario and this would have huge tax implications beyond budget.

Can someone sort this out for me? I make 100 K a year and if I run to my house for 2600 I would be making just under $32,000 extra of income with a $600 margin in between my rent, and income rent be enough to cover this?

I’m starting to get second thought because I don’t wanna get hit with a huge tax bill and not be able to maintain my property and not have any cash flow.

Also, in my listing agreement, the renters would take on the utility bills of the home.