Canadian GDP increases for fourth straight month

Posted by Ravi Gulati | Posted in Uncategorized | Posted on 30-06-2013

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Canada’s economy is headed for slower growth during the second quarter compared with the first, economists said Friday after gross domestic product gained 0.1 per cent in April.

The latest figures released by Statistics Canada indicated April was the fourth month of GDP growth in a row, driven largely by service industries.

However, economists pointed out that April’s gain, which fell in line with their expectations, was below increases of 0.2 per cent in March and 0.3 per cent in February.

Canadian GDP increases for fourth straight month – investmentexecutive.com.

Estate Planning Is Important for Your Online Assets, Too – NYTimes.com

Posted by Ravi Gulati | Posted in Financial Planning, Uncategorized | Posted on 05-06-2013

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IT’S tough enough to write an ordinary will, deciding how to pass along worldly goods like your savings, your real estate and that treasured rocking chair from Aunt Martha in the living room.

But you may want to provide for your virtual goods, too. Who gets the photographs and the e-mail stored online, the contents of a Facebook account, or that digital sword won in an online game?

These things can be important to the people you leave behind.

“Digital assets have value, sometimes sentimental, and sometimes commercial, just like a boxful of jewelry,” said John M. Riccione, a lawyer at Aronberg Goldgehn Davis & Garmisa in Chicago. “There can be painful legal and emotional issues for relatives unless you decide how to handle your electronic possessions in your estate planning.”………….

Professor Cahn in Washington says the time to prepare for the digital hereafter is now, particularly if serious illness is a factor. “If someone is terminally ill,” she said, “in addition to getting emotional and financial issues in order, you need to get your Internet house in order.”

via Estate Planning Is Important for Your Online Assets, Too – NYTimes.com.

If you don’t have rest, you can’t be your best

Posted by Ravi Gulati | Posted in Uncategorized | Posted on 03-05-2013

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Beyond that, he urges you to deal with the stressors in your life and give yourself days to refresh. He is a student of Toronto’s Dan Sullivan, known as the Strategic Coach, and every three months schedules “free days” for the coming period – days without work or cell phone or being tethered to the office – before scheduling his regular appointments. To some that may seem like a luxury, but he says that “rest and rejuvenation is not a luxury – it’s a necessity for being your best.”

If you don’t have rest, you can’t be your best – The Globe and Mail.

Ease those empty-nest blues: Rent out part of your home

Posted by Ravi Gulati | Posted in Financial Planning, Uncategorized | Posted on 17-09-2012

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Renting out part of your principal residence is a great way to earn some extra income and enjoy the company of others all at the same time. Let’s look at what this means from a tax point of view :

1. Partial use to earn income…………….

If you fail to meet these tests, CRA may consider all or part of your property ineligible for the principal residence exemption and you could pay some tax on a sale of the home later.

2. Change in use

3. Reporting income

4. Deducting expenses

Ease those empty-nest blues: Rent out part of your home – The Globe and Mail.