Minister Bibeau highlights Government support for women in agriculture

Calgary, Alberta – Agriculture and Agri-Food Canada – Diversity and inclusion are integral to creating an economy that works for everyone. The full and equal participation of women in Canada’s agriculture and food system will ensure the sector remains an engine of economic growth, contributing to the sector’s competitiveness and prosperity.

Minister of Agriculture and Agri-Food Marie-Claude Bibeau today spoke at the Advancing Women in Agriculture West 2019 conference in Calgary, highlighting the Government of Canada’s ongoing commitment to creating a diverse, inclusive economy and supporting women in the agriculture and agri-food sector.

The Minister also announced Farm Credit Canada’s (FCC) new Women Entrepreneur Program to support women entrepreneurs involved in the agriculture and agri-food sector by providing the capital they need to grow their business, along with the meaningful skill development opportunities they are seeking. The program includes access to capital through the Women Entrepreneur Loan, enhanced learning events, partnerships with other groups, and delivery of online content to support their needs.

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Which investments can reduce your tax bill?

Taxes may be inescapable, but your choice of investments can have a huge impact on how much tax you pay.

It all depends on your personal situation and how you structure your investment portfolio.

3 types of investment income and how they work

A basic investment portfolio can generate three types of income:

  1. Interest income. If you have a savings account or a money market fund, you will receive interest income. Ditto, if you have a fixed income or bond component in your portfolio. A five-year Government of Canada bond, for example, may have a “coupon” of 2.25%, meaning for every $1,000 invested, you will receive $22.50 in interest each year. If your bond component is held in a mutual fund trust, you will receive annual “distributions.”
  2. Dividend income. If you buy shares in publicly traded companies, you may receive dividends, a company’s way of sharing its profits with its shareholders. You will receive a certain amount per share quarterly, semi-annually or annually. Likewise, you can receive dividend income from a mutual fund that buys dividend-generating stocks and makes an annual distribution to unitholders like you.
  3. Capital gains or losses. If you sell your company shares, your mutual fund units or a bond you own before its term expires, you may generate a capital gain or loss. For example, if you bought shares in ABC Co. for $10 each and sold them for $20 each, you would have a $10-per-share profit. That is a capital gain. If, on the other hand, you bought at $20 a share and sold at $10, you would have a loss of $10 per share. That is a capital loss.

How your investments are taxed

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Women and the financial frontier – Addressing the financial challenges facing women, with tips men can use too.

Women are centre stage in 2018. They’re speaking out across social media and demanding change – and there are signs they’re well positioned to get it.

The federal government has a gender‑balanced cabinet for the first time in history. Globally, female empowerment, workplace equality and the issues women face are the subjects of daily headlines. And in February, Maclean’s magazine printed two versions of its cover – offering the issue at $6.99 for women and $8.81 for men to draw attention to pay equity and how far we still have to go to achieve it.1

Financial empowerment is an important frontier for women. They have a lot going for them already. More and more Canadian women are taking their places in university classrooms and corporate boardrooms,2 suggesting strong earning potential. The wage gap in this country has narrowed3 as women’s median annual earnings have more than doubled over the past half century.4 Furthermore, women have a track record of outperformance in investing. One U.S. study found that women achieve a 0.93 per cent return advantage because they don’t trade in and out of investments as frequently as men do (and therefore don’t lose as much to commissions and fees).5 Another found that women have a 0.4 per cent performance edge annually, and boost their balances further by setting aside an average of 9.0 per cent (compared to men’s 8.6 per cent) of their paycheques in workplace retirement accounts.6 However, as the Maclean’s covers pointed out, a significant wage gap persists.

Recent data from Statistics Canada shows that women working full‑time in Canada earn, on average, $0.74 for every $1.00 their male counterparts make. The hourly wage rate, which takes into account that men often work longer hours than women, shows women earn $0.88 for every $1.00 men earn.7 So, women may set aside more of their paycheques, but if those paycheques are smaller the dollar amount they save won’t be as high. And while women may get slightly higher investment returns, if those higher returns apply to a smaller asset balance they’ll likely still end up with less. That’s a problem because women often need more savings than men.

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Little Wins To Help Manage Holiday Debt

With the arrival of a new year, setting a resolution around debt could be the smartest thing you could do.

According to Manulife’s 2018 Holiday Debt Survey1, 8 in 10 Canadians say the holidays have become too focused on spending money, while a quarter of Canadians agree that they are more stressed about finances over the holidays than the rest of the year.

With high pressure to spend, it’s no wonder that three in 10 say they struggle to pay off debt after the holidays.

But it is possible to get back on track. Here are some little ways you can help manage your debts — and plan ahead for the next holiday season:

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The “bigger bang” RRSP strategy

AS THE CALENDAR YEAR WINDS DOWN, many Canadians start thinking about contributing to a Registered Retirement Savings Plan (RRSP).  Whether they make a single lump-sum contribution each year or contribute year-round with a “top-up” before the annual RRSP deadline, there’s a strategy that can help save more taxes this year and provide a head start on tax-deferred compounding.

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Estate & Wealth Transfer Lunch & Learn Seminar

Would you like to find out about:

  • common estate planning mistakes & pitfalls?
  • little known methods to reduce or eliminate estate settlement fees?
  • proven charitable gifting strategies?
  • GIC alternatives?
  • methods for tax effective family wealth transfer & succession planning?
  • economic outlook and 2019 market update?

Join us for a lunch & learn seminar on February 28, 10-2 in Wyoming at the Lions Hall.

Call 519-845-3914 to register.  Limited seating!

Click on the following link “seminar poster” for more information.

Seminar Poster

How to become a super-saver

Saving money isn’t a super-power, but it does take effort — and a bit of imagination. Three successful savers share their secrets.

Everyone knows that saving money isn’t always easy and, over all, we don’t save enough. According to the 2018 Sun Life Financial Barometer, a national survey of 2,900 adults from 20 to 80, the average Canadian carries $18,660 in non-mortgage debt, while 24% of working Canadians have dipped into their retirement savings to pay off debts, cover health-care costs, or take a vacation.

Yet, there are some super-savers out there. Jackie Silverberg, a 68-year-old retiree, takes three trips a year, but rarely taps the money she’s earmarked for travel. Jason Campbell, 40, has taken three work sabbaticals and has paid off half his mortgage four years into being a homeowner. Erica Berman, 44, and her husband bought their car with cash. They have no mortgage and have amassed considerable retirement savings.

So how have these three people bucked the no-savings trend, and what tips do they have for those who are struggling to save? Here’s their advice.

Have a savings philosophy

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7 tips to kick-start healthy eating habits after the holidays

Ready to bounce back from your holiday food hangover? A nutrition expert weighs in on how to develop a healthy attitude about eating in the New Year.

The holidays might not be the healthiest time of year, but there’s no shame in revelling in a season full of indulgences – especially if they come in the form of herb-glazed turkey, rich and buttery shortbread cookies or eggnog with a kick. But with the festive season done with and a New Year beginning, you may be looking to jumpstart your January with better eating habits.

Toronto-based dietitian Shahzadi Devje, RD, CDE, MSc, offers these healthy eating tips if you’re aiming to keep your New Year’s resolutions or recovering from a few too many of those holiday indulgences:

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3 smart ways to boost your RRSP contributions

As your income goes up, so should your RRSP contributions. Find out how a small increase can make a huge difference.

If you’re a younger worker with a large mortgage and small children, it may be a stretch to contribute even $100 a month to your registered retirement savings plan (RRSP). But as your income goes up, increasing your monthly contributions each year by only a small amount can make a huge difference.

For example, let’s assume that you start an RRSP at age 35 and plan to retire at age 65. Initially, you contribute $100 a month ($1,200 a year) at an assumed 4% growth rate.

According to our RRSP contributions calculator, if you continue to save at this rate, after 30 years you would have $69,994 in your plan. However, if you increase your monthly RRSP contributions by $50 each year, by age 64 you would be contributing $1,550 a month ($18,600 a year). As a result, you would accumulate $476,924 in your RRSP account by your planned retirement date — nearly 7 times as much!

Here are 3 ways to boost your RRSP contributions:

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For love and money

Talking about money in a new(ish) relationship.

Growing into a relationship is partly about discovering the things two people have in common – from favourite activities and hobbies to shared attitudes and beliefs. And, while it may not be one of the first subjects to come up, the topic of money is bound to surface as a relationship gets more serious. Here are some things to consider when beginning to talk about money in a relationship.


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