- Prof. Benjamin Alaire of the University of Toronto has recently launched a new, non-commercial, website called Taxwiki.ca that aims to provide better, faster and more accurate tax guidance to Canadian taxpayers. The wiki’s materials are based on original CRA documents which are updates after consultations with authoritative resources, including the Income Tax Act and its regulations, rulings and other disclosures of the CRA, as well as decisions of the Tax Court of Canada , the Federal Court of Appeal , and the Supreme Court of Canada to provide straight answers.
- It is not entirely surprising that credit card rewards raise the retail costs for everyone. What is surprising is that this amounts to a transfer of wealth from low-income to high-income households. A study by the Federal Reserve Bank of Boston that was widely reported in the media found that on average, those with a household income of $20,000 or less pay $23 and those with a household income of $150,000 or more receive $756.
- Jon Chevreau points out that a significant number of seniors are missing out on Canada Pension Plan, Old Age Security and Guaranteed Income Supplement benefits that they are eligible for.
- Ellen Roseman excoriates Enbridge for undercharging customers under the Budget Billing Plan and then socking them with a huge monthly bill.
- Larry MacDonald takes a look at some estimates on when all that monetary growth will trigger inflation.
- Canadian Financial Stuff finds that pets are hugely expensive.
- Preet says that current benchmarks for active management ignore such things as price of advice. Problem is the majority of investors receive little value for the advice portion of their mutual fund fees.
- Million Dollar Journey featured a guest post on the risks in bonds and their suitability for portfolios.
- If you rent, Financial Highway has ten reasons why you need renter’s insurance.
- Turns out getting a mortgage ain’t so simple anymore. The Financial Blogger what’s required to obtain a mortgage.
- After a free lunch gave him an upset stomach, Michael James asks an eternal question: Why is FREE so irresistible?.
I’m unable to highlight all the articles worth checking out in my weekly round up but you can check out the interesting columns I come across in my Twitter feed.
No post on Monday owing to Civic Holiday in Ontario. It promises to be another glorious summer weekend in Ottawa. Have a great weekend everyone.