Personal Finance

Year-End Tax Planning Tips

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Posted by Philip Kuzyk, Canaccord Genuity

on Friday, 16 December 2016 16:38


As 2016 draws to a close, now is a good time to plan ahead to take advantage of tax savings, particularly as tax rates increased this year across the country. In addition to maximizing your RRSP and TFSA contributions and realizing any capital losses, make sure that any payments that may be eligible for tax deductions or credits are made ahead of the deadline.

Here are some key CRA dates for consideration:

Payments due by December 31, 2016:

• Investment counsel fees, interest and other investment expenses

• Medical expenses

• Child and spousal support payments

• Charitable donations

• Deductible legal fees

• Interest on student loans

• Contributions to your RRSP if you turned 71 on or before    December 31, 2016

You also have until December 31, 2016, to:

• Rebalance corporate class mutual funds tax-free

• Benefit from tax-loss selling

• Delay RRSP withdrawals under the Home Buyers Plan or Lifelong Learning Plan (until January 1, 2017)

• Make TFSA contributions as well as any necessary withdrawals

• Make RESP contributions to qualify for CESG

• Convert your RRSP to a RRIF if you turned 71 in 2016

• Benefit from the Children’s Fitness and Arts Credit

Payments due by January 30, 2017:

• Interest owed on spousal loans

Payments due by March 1, 2017:

• Contributions to your own RRSP or a spousal RRSP

• Contributions to federal or provincial labour-sponsored venture capital corporations

• RRSP repayments under a Home Buyers’ Plan or a Lifelong Learning Plan


Philip G. Kuzyk FCSI, CIM

Portfolio Manager, Canaccord Genuity Wealth Management

609 Granville Street, Suite 2200, Vancouver BC V7Y 1H2

T: 604.699.0869 | F: 604.643.1802 | TF: 888.589.9591

E: philip.kuzyk@canaccord.com |www.canaccordgenuity.com


Personal Finance

ECB surprise places Euro on chaotic ride

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Posted by FXStreet.com

on Thursday, 08 December 2016 08:13

53-636168038982780966The Euro/Dollar was exposed to extreme levels of volatility during trading on Thursday following the European Central Bank’s market shaking decision to taper its monetary stimulus to the Eurozone from April 2017 until the end of December 2017 or beyond. Although the central bank has decided to maintain its monthly purchases by 80 billion euros until March 2017, the reduction to 60 billion euros from April 2017 till year end could spark fears of a taper tantrum potentially sabotaging growth and pressuring the ECB to take further actions. With concerns still elevated over the health of the European economy and mounting political instability from Italy weighing heavily on sentiment, investors may turn to Draghi for further clarity on why the ECB made such a move.

...read more plus analysis on Crude & Gold


Silver Poised for Near-Term Bullishness


Personal Finance

The War on Cash – One Giant Leap Forward For Government

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Posted by Martin Armstrong - Armstrong Economics

on Tuesday, 06 December 2016 08:55

Smart-Phone-Money"The hunt for taxes is getting pretty bad"

The European Payments Council (EPC), a subdivision of the European Central Bank, is taking one giant step forward in their quest to eliminate all cash to increase taxes. They have gone ahead and set up the technical bases last week to enable the immediate payments system throughout Europe. One of the stumbling blocks has been the fact you cannot transfer money same day for banks like to play with your money and holding it for a few days. If the payment comes from overseas, the bank will not “clear” the funds usually for six weeks.

Unless money can become instant, it is really impossible to eliminate cash. The SEPA Credit Transfer Scheme will move to allow instant transfers. The goal is to eliminate ATM machines and force people to pay using their mobile phone beginning in November 2017. Of course, there is nobody thinking about tourism. How will an American pay for something on a vacation in Europe? One suggestion behind the curtain I was recently briefed on was they could pay in advance and have an app that then pays for things in Europe.



Personal Finance

Cash is for Criminals – Taxing Cash Withdrawals from ATMs

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Posted by Martin Armstrong - Armstrong Economics

on Tuesday, 29 November 2016 06:54

war-on-cashWe are entering a very dark phase in this battle to retain our liberty. A proposal now being whispered behind the curtain in Europe is to impose a tax on withdrawing your own money from an ATM. The banks support this measure as a whole because they see this as preventing bank runs.

Nobody will look at the direction we are headed. I am deeply concerned that these type of proposals will send the West in a real revolution not much different from that of Russia in 1917. The divide between left and right is getting much deeper and the left is hell bent on stripping those who produce of their liberty and assets. This type of confrontation is in line with our War Cycle, which we will update in 2017.

This is the most dangerous period we are heading into for governments will respond only in their own self-interest to survive. The socialists hate those who produce. That is just the bottom line. Nobody should have wealth more than they and this is the same human emotion that has cost tens of millions of lives in civil conflicts through out the centuries. Proof this is a persistyent problem is the fact taht even the Ten Commandments state clearly that socialism is wrong: “You shall not covet your neighbor’s house … or anything that belongs to your neighbor” (Exodus 20:17).  Nevertheless, this is repuidiated by socialists who say it’s not fair that anyone has something more than they do. This material jealousy has been the source of so much death throughout the centuries because it has been exploited by the ruling class to justify their theivery.

We will review all our models and update this after the U.S. inauguration since the socialists are trying to figure out how to steal the election from Trump. There is no way to overturn Michigan, Wisconsin, and Pennsylvania without fraud and they need all three overturned to claim victory. This will not end nicely. The divide will only get bigger. The future is anything but stable and safe.

The war on cash is in full swing. The whispers behind the curtain are starting to get louder. The headlines in Australia demonstrate how the press is already conspiring against the people. The new slogan rising is Cash is for Criminals. ABC of Australia ran the story:




Personal Finance

This Is Where I Get Off

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Posted by Jeff Thomas via Sprott Money

on Friday, 25 November 2016 08:21

maxresdefaultWe began writing on the War on Cash some time ago, when it was still just a theoretical ploy that we believed banks and governments were likely to employ as their economic adventurism continued to unravel. 

But, in the last year, several countries have, as a part of the War on Cash, begun removing larger bank notes from circulation in order to force people to perform all economic transactions through the banking system, assuring that the banks would gain total control over the movement of money. 

Of course, the banks could not admit their true goal to the public. They instead used the governments to claim that the measure was being undertaken to restrict crime (money laundering, drug deals, black marketing, terrorism, etc.) 

Recently, without any fanfare, ATM’s in Mexico have ceased issuing the 500 peso note US$24). The largest note is now the 200 peso note (US$10). 

At about the same time, Citibank in Australia declared that it will no longer accept coins or banknotes. 

India has joined those countries that have done away with larger notes. They did so quite suddenly and the effects are already being felt by the Indian people. The elimination of the 500 rupee and 1000 rupee notes has, of course, not limited the level of spending in India, but it has caused a sudden demand for considerably more smaller notes through which to accomplish the same transactions. 

A problem with the removal surfaced immediately when people using ATM’s were withdrawing far more notes than ever before in order to have enough cash to function normally. The ATM’s were quickly being emptied of the smaller denominations. The people of India cried foul, as 86% of all money in circulation had vanished from the system overnight. The limit for withdrawal per day is 2500 rupees (US$37) – which for some is sufficient to pay for daily expenses, but is most certainly not sufficient to carry on a business or facilitate larger transactions. 



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