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Own property?
Well, it’s nearly that time of the year – property tax payment time! If you own commercial property or a residence, don’t forget to pay your property tax and claim your grant (if applicable) before the deadline. The penalty is quite steep so you don’t want to be late. There are a multitude of payment options; this year, I post-dated my payment online and claimed my Home Owner grant online as well.
Mark Carney, (recently) former Governor of the Bank of Canada, just headed over to his new job in the UK. I think this is a big loss for Canada as Carney did an excellent job. Fortunately, it looks like his replacement, Stephen Poloz, is going to be a great replacement. For a quick bio on Poloz, please click here.
Finally, for those of you on the North Island, don’t forget to check out Flavour, the gourmet picnic held annually in September. I went last year and it was spectacular. For more information, click here.
Have a great weekend!
Ben
Money matters…
Warren Buffett
Hi everyone! Hope you had a nice long weekend. I just wanted to provide a few updates on a couple of issues. First off, for those of you who own businesses in B.C. don’t forget to remit your PST by the end of this month or you may be charged a penalty. Secondly, most of us know that conflict around finances and money is one of the leading causes of marital strife in Canada. Click here to read a short series of questions you can use to discuss money matters with your significant other – you may be surprised at some of the answers! Finally, we’ve had some pretty decent market performance over the last few months. As I pen this, the TSX is hovering around 12,800, up about 6% in the last month. The all time high for the TSX was in June 2008, just over 15,000. Most market progress is like a ballroom dance; two steps forward and one step back. I’ll stick to my knitting, however, with a focus on building enduring portfolios. As Warren Buffett says: “I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.”
Have a great weekend!
Ben
The tax man cometh…
Hi everyone! Well, it is that time of the year again as millions of Canadians prepare to file their personal tax returns in advance of the April 30th deadline. If you haven’t yet done so, don’t forget to submit your return to avoid any potential late penalties. There are many tax resources on the internet as well as traditional channels such as tax preparation firms and accountants. I just read an article on CBC a few days ago which offered a few interesting points; click here to read more.
For those of you who follow the dance between the Loonie and the Greenback, among other currencies, check out the Big Mac Index. It’s an interesting way to compare global currencies, using the Big Mac as a common medium of exchange!
Have a great weekend,
Ben
The Most Inevitable Headline…
Good day, everyone!
The last few months we’ve seen markets move in a nice upward trend. People who’ve stuck out the volatility of the 2008/2009 global economic meltdown have been rewarded as many investment portfolios have rebounded and continue to do so. The Wall Street Journal offered an excellent article on this theme and Motley Fool added some commentary; click here to read more. I continue to keep things simple in my recommendations, building conservative, income generating portfolios comprised mainly of blue-chip dividend paying stocks and a few income trusts coupled with cash and fixed income.
For those of you who haven’t heard, YANA just held its annual dinner-auction and we raised nearly $60,000 to help keep our programs running. Thank you to everyone who attended, helped, bid and donated. I’m on the board of YANA and I can say with certainty to ‘stay tuned’ as some great new developments are coming down the road.
Yesterday, the Federal Budget was released. It was a pretty ‘quiet’ budget, with nothing overly negative or optimistic in it. To read some of the details, please click here. Finally, remember that we’re rapidly approaching tax time. Most tax receipts and slips must be sent to you by 31 March 2013 so remember if you file early, you may miss a receipt. The deadline for filing your personal taxes is 30 April 2013.
Have a great weekend!
Ben
Update
Good morning! Many of you have had the chance to peruse the photographs which hang in the office. They’re provided courtesy of Steve Williamson – Pauline’s other half! He has an exceptional talent for capturing wildlife in its finest and most natural positions. To learn more about Steve and his adventures, please click here.
On another note, please stay tuned in a week or so for our 2013 important dates and events calendar. Upcoming, remember that RRSP contributions need to be made, if applicable, by March 1st. TFSA contributions can be made at any time, by cheque or online, and the limit for 2013 is $5500 per person.
Have a great week!
Ben
