If you like to read, but don’t often read the same book twice, then you should look into getting a library card. It costs $12 for one year here in Edmonton, while other places it can cost a bit more. Many towns offer library use for free, even though technically it’s hard to say that…
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Monthly Archives: February 2009
National Do Not Call List & CMA Do Not Contact Service
Tired of all the phone calls and junk mail trying to sell products and services you don’t want? There are two lists you can sign up for to stop most of the calls and mail. Registration is valid for three years for either list. To reduce the anount of phone calls you receive from telemarketers, you’ll want…
Friday Links
Million Dollar Journey had a post by Ed Rempel on how to take advantage of the market after the crash of 2008. Canadian Capitalist shows how, if you have $10,000 available, paying down your mortgage can provide a bigger benefit than the maximum HRTC credit. The Financial Blogger says that with low interest rates and low stock…
Federal Political Contributions
As a followup to my previous post on charitable donations, I thought I better discuss federal political contributions. With charitable donations, you benefit from saving your receipts over 6 years since the percentage you receive back is higher on money contributed over $200. Federal political contributions are the opposite, the percentage you get back is higher…
Charitable Donations
By saving your receipts you can optimize the tax credit you receive on charitable donations you make to registered charities. You do however, need to have a dependable filing system since you’ll need to hold on to your receipts for a few years. The first $200 of charitable donations you claim are eligible for a 15%…
Borrowing for the Home Renovation Tax Credit (HRTC)
Most people are saying that they wouldn’t borrow money for renovations to make the February 1, 2010 deadline for the Home Renovation Tax Credit (HRTC). The more I look at it, the more it might make sense if you can afford the extra monthly payment and can pay it off within about 6 years. The HRTC…
Home Buyers Plan (HBP)
The Home Buyers Plan is a government program that allows you to withdraw up to $25,000 from your RRSP towards the purchase of your first home without any tax being withheld. You then have to repay this amount over 15 years. Since you have already received a tax refund for these funds when they were…
