“The art and science of asking questions is the source of all knowledge” – Thomas Berger
Guide to Recessions
Capital Group has released an informative, user-friendly piece on the topic of recessions. The article answers the following questions:
- What is a recession?
- How long do recessions last?
- What happens to stock markets during recessions?
- What economic indicators can lead to a recession?
- How close are we to the next U.S. recession?
- How should you position your portfolio for a recession?
- What should you do to prepare for a recession?
You can read the article here.
2018 Tax Deadline
The 2018 tax deadline for most Canadians is April 30, 2019. If you or your spouse are self-employed, then your return is due June 15, 2019.
Regardless of when your taxes are due, if you owe money on your return, it is due on April 30, 2019.
Let us know if you have any questions about your tax return.
Our tax checklists are available here.
Be Aware: CRA Scams Abound
As we enter the full swing of tax season, it is important to remember that scammers posing as CRA agents are also getting into full swing. The CRA has put together a helpful list of things they MAY and things they WILL NEVER do, depending on the type of communication (phone contact, email contact, mail contact). The CRA will NEVER text you or try to contact you via various social media apps (Whatsapp, Facebook, etc).
The CRA website page on the subject is here. One thing CRA will never, ever do is threaten you with arrest or prison, or demand immediate payment by e-transfer, bitcoin / other e-coins, prepaid credit cards or retail gift cards (iTunes, Amazon, etc). They will NEVER do this.
As always, if you are contacted by the CRA or by someone you think might be a scammer, feel free to contact us and let us know. If we prepare your taxes, we can contact the CRA on your behalf to determine whether the contact you received is legitimate or not.
Weekly Update – By The Numbers
- The TSX closed at 16,380, up 278 points or 1.73% over the past week. YTD the TSX is up 14.36%.
- The DOW closed at 26,425, up 496 points or 1.91% over the past week. YTD the DOW is up 13.28%.
- The S&P closed at 2,893, up 59 points or 2.08% over the past week. YTD the S&P is up 15.40%.
- The NASDAQ closed at 7,939, up 210 points or 2.72% over the past week. YTD the NASDAQ is up 19.65%.
- Gold closed at 1,296, up -23.00 points or 0.31% over the past week. YTD gold is up 0.86%.
- Oil closed at 63.3, up 3.14 points or 5.22% over the past week. YTD oil is up 38.12%.
- The USD/CAD closed at 0.7472, down -0.0007 points or -0.09% over the past week. YTD the USD/CAD is up 1.97%.
- The MSCI closed at 2149, up 42 points or 1.99% over the past week. YTD the MSCI is up 14.01%.
- The Euro Stoxx 50 closed at 3448, up 96 points or 2.86% over the past week. YTD the Euro Stoxx 50 is up 14.90%.
- The FTSE closed at 7,447, up 168 points or 2.31% over the past week. YTD the FTSE is up 10.69%.
- The CAC closed at 5,476, up 125 points or 2.34% over the past week. YTD the CAC is up 15.75%.
- DAX closed at 12,010, up 484.00 points or 4.20% over the past week. YTD DAX is up 13.74%.
- Nikkei closed at 21,808, up 602.00 points or 2.84% over the past week. YTD Nikkei is up 8.96%.
- The Shanghai closed at 3,247, up 156.0000 points or 5.05% over the past week. YTD the Shanghai is up 30.19%.
- The 10-Yr Bond Yield closed at 2.5, up 0.0900 points or 3.73% over the past week. YTD the 10-Yr Bond Yield is down -7.06%.
Sources: Canada.ca, Capital Group, Dynamic
This information is provided for general information purposes only. It does not constitute professional advice. Please contact a professional about your specific needs before taking any action.