The deadline to contribute for the 2022 tax year is soon approaching. Depending on your marginal tax bracket, you could see a tax savings as high as 53.5% on your contribution. Roughly speaking, if you earn more than $50K a year, a $1,000 contribution will generate a $300 tax savings. If you earn more than… Read More
As we approach the end of 2022, here is a “state of the market” which shows where we are and provides a potential glimpse into the next year. Firstly, some high-level commentary from Myles Zyblock, Chief Investment Strategist at Dynamic Funds: The next year’s outlook represents a fine balance between further monetary policy tightening and… Read More
This week, the CRA confirmed the 2023 TFSA contribution limit to be $6,500. The annual contribution limit has been $6,000 since 2019. As of January 1, 2023, the lifetime TFSA contribution limit for individuals who have been at least 18 years of age and lived in Canada since 2009 is now $88,000. The annual TFSA… Read More
Today, the U.S. October inflation data report was released, with unexpectedly positive results. Canadian and U.S. Markets responded resoundingly – staging the largest single day rally since April 2020 – on the hopes the U.S. Federal Reserve may ease off its prior strong rate increase signaling. We would like to share some commentary from Myles… Read More
On Wednesday the Bank of Canada (BoC) announced its latest rate increase, lifting the overnight policy interest rate by 50 basis points (bps) to 3.75%. Most analysts had predicted a 75bps increase. The lower-than-expected increase represents a continued slowing in the pace of increases since the start of the rate hiking cycle. The 50bps move… Read More