Short Takes: Ally Fading, Brevity in CRA Communications, and more

Royal Bank has begun dismantling Ally, the online bank they acquired a few months ago. Customers can’t open any new Ally accounts, and RBC will close existing Ally high-interest savings accounts on April 30.

 The Blunt Bean Counter says that it is usually a mistake to offer extra information to CRA beyond what is necessary.

Million Dollar Journey explains how you might get hit with taxes when transferring the commuted value of a pension into a Lock-In Retirement Account (LIRA) if you go over the Maximum Transfer Value.

 Canadian Couch Potato points out that while there are problems in the mutual fund industry, not all ETFs are better than all mutual funds. In some cases, the best mutual funds are a cheaper option than ETFs.

Money Smarts shows that deciding between an RRSP and a TFSA is a little more subtle than just comparing marginal tax rates before and after retirement.

Big Cajun Man chokes on an article that defends the Pay Day Loan industry.


Comments

  1. The Blunt Bean CounterFebruary 22, 2013 at 7:49 AM

    Thx for Link, I hope you are now "stress free" heading into the weekend.

    ReplyDelete
  2. Big Cajun ManFebruary 22, 2013 at 10:28 AM

    Thanks for the inclusion, I hope he isn't too stress free, he is no fun when he is relaxed!

    ReplyDelete

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