If you owned a residential property in Canada on December 31, 2022, you might have to pay an Underused Housing Tax (UHT) if it was vacant or underused. Even if you’re not subject to tax, you may be required to file an Underused Housing Tax return to claim an exemption.
By IG Wealth Management • April 2023 • 8 min A Tax-Free Savings Account (TFSA) is a great tool to build wealth for most Canadians while paying less tax. Although there are many benefits to investing in a TFSA, there can also be costly mistakes. This article outlines the eight most common pitfalls people encounter and how to avoid them...
By IG Wealth Management • March 2023 • 4 min The real meaning behind the question is more likely that investors want to know if their investment will go up rather than down. In truth, it’s impossible to know when the “perfect” time to invest is. Rather, if investors are nervous about when to invest, we would suggest buying in...
By IG Wealth Management • April 2023 • 6 min HELOCs are becoming increasingly popular with Canadians, as they are flexible and easy to use. But what is a home equity line of credit, exactly, and how can you make the most of it? Canadians love to use home equity lines of credit (HELOCs). In 2021, the amount of money...
By IG Wealth Management • February 2023 • 9 min According to a recent Stats Canada report, almost 1.4 million Canadian households reported having property rental income. That’s a significant portion of the population. Given that rents increased on average across Canada by 11% in 2022 (and by considerably more in big cities, such as Toronto and Vancouver), it’s understandable...
On Tuesday March 28, 2023, Deputy Prime Minister and Minister of Finance Chrystia Freeland presented the 2023 federal budget, which contains several measures of interest to IG Wealth Management and its clients.
By IG Wealth Management • March 2023 • 7 min And is it a better option than a conventional mortgage? When you’re considering a new mortgage, whether it’s to buy a new home, refinance to tap into your home’s equity or to simply switch lenders, it’s important to know about your options. Most homeowners know the difference between fixed and...
By IG Wealth Management • May 2022 • 5 min Canadians with variable rate mortgages would be wise to keep an eye on announcements from the Bank of Canada (BoC) regarding its prime rate. At the beginning of 2022, for example, high inflation prompted economic experts to expect prime borrowing rates to increase considerably. The BoC dropped the prime rate...
By IG Wealth Management • March 2023 • 9 min Exploring the myth that it’s always better to take a fixed over a variable mortgage, and how you can choose the best option for your circumstances. Exploring the myth that it’s always better to take a fixed over a variable mortgage When you’re looking to buy a home or renew...
By Ebony Williams, The Atlanta Journal-Constitution • March 2023 • 3 min HEALTH AND WELLNESS There are plenty of myths when it comes to energy boosters that don’t involve an energy drink. While it might be fun to try out the latest trend, there are some scientifically sound tricks to boosting your energy naturally. Various studies suggest that energy levels...
By IG Wealth Management • March 2023 • 10 min Did you know that over half of Canadians don’t have a will? And that number jumps to 70% for younger Canadians (aged 18-34) and 66% for those aged 35-54. This is even more surprising given that almost 60% of Canadians think they have a good level of estate planning in...
According to a recent Stats Canada report, almost 1.4 million Canadian households reported having property rental income. That’s a significant portion of the population.. Given that rents increased on average across Canada by 11% in 2022 (and by considerably more in big cities, such as Toronto and Vancouver), it’s understandable why investing in property is so popular.