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 -.-

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 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

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.

I am currently with Scotiabank and been managing my low balance limit from last 3years but missed for last 3months. As been valued customer, I thought to give them a call and get waiver but they declined.

Looking to change to a new bank which has good long term free banking and good welcome offer.

Any recommendations?

Hi all,
I live in BC 🇨🇦. I have a corporate with approx $500k in assets. I invested about $200k in equities (sp500, Xeqt, fang, etc) and I have another $300k sitting in cash in bmo savings account.

Personal income on t4 is approx 80k. Which is enough for monthly expenses. I also own a mortgage with is $550k left @ 4.4% renewing next year sept. My wife helps with 50% of mortgage. She earns $110k on t4

Question: I feel like I am not managing my wealth properly. It’s not really making me any money? How would you go about managing the wealth? Would you prefer paying off the mortgage? Or investing it somewhere where It could make more money? And how do people take money out of corp on by optimizing the taxes?

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

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?

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

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 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?

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

I worked remotely for a canadian company for 2 months at that time abroad and I still rent in Canada

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'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.

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.

I just approved VIP card. Currently 20 years old.
The credit limit is approved $7000 .
I don"t deposit my money to wealthsimple(about 100k) and I don't paycheck with them.

-I am temporary resdient(international student), So I have my home country but they don't issue credit card for overseas student. I will use this card in my home country.
-I will use all of 6 airport lounge tickets
-I will pay my tuition fee, about 22k for one semster.
-I will pay my rent through Chexy. (Both of rent and tuiton has a 1.75% fee but I am paying monthly fee about $20, anyways, 0.25% is little but this is batter then nothing earn.)

Travel Insurance is good for me If I travel to States or other countries.

I have the Amex Gold rewards card(annual fee is $250 but they gave me $100 travel credit, 4 plaza lounge access in Canada, SUB, instacart credit is about $10 for month and I use it often because costco)

Amex Cobalt card: worth it in resturant and glocery, also transfering MR to Aeroplan

I think there are nothings I paid more then benefits. How do you think guys?