Mid-Summer Reviews: When to Collect OAS and CPP

Did you know that 61% of Canadians are afraid of running out of money during retirement? According to a new CPP Investments survey, that fear is widespread. Yet surprisingly few people understand even the basics of public pension planning. For example, Canadians are not obliged to begin OAS or CPP at age 65. By delaying, they can significantly boost after-tax income and improve retirement security.

TFSA holders can withdraw any amount they want from their TFSAs at any time, but as close to 55,000 people found out in warning packages from CRA recently, putting the money back can create a 1% per month penalty if it’s done at the wrong time.

On August 8th, Standard & Poor’s (S&P) revised its outlook on Canadian banks to “negative”. Why?

Canada’s economic growth is poised to be in a sweet spot.

The Tax Court of Canada recently allowed an application for an extension to serve a notice of objection to an assessment. Perhaps the most interesting aspect of the case was the dismal performance of the Canada Revenue Agency (CRA).

The fall “back to school” time provides a great opportunity enhance knowledge-based careers.

It is not uncommon for elderly people to form delusionary beliefs about those who should rightfully be named in their will.