By Fund Library News Wire | Friday, April 28, 2017
By Mike Keerma
Upbeat earnings spur U.S. markets, while TSX lags.
* Mackenzie adds to income fund lineup. * Front Streeet proposes fund merger.
* Upbeat earnings spur U.S. markets, while TSX lags. U.S.
stock markets closed Friday noticeably higher on the week, as first-quarter
earnings reports continued to exceed analysts’ estimates, especially among
technology stocks, where both
Alphabet Inc. (NASDAQ: GOOG)
Amazon.com Inc. (NASDAQ: AMZN)
reported street-beating earnings. In addition, markets were buoyed by the
prospect of personal and corporate tax cuts announced by President Donald
Trump on Wednesday. The
S&P 500 Composite Index
advanced 1.5% on the week and 1% on the month. The tech-weighted
Nasdaq Composite Index
advanced 2.3% on both the week and the month. Toronto’s
S&P/TSX Composite Index
shaved a hairline 0.2% on the week as the financial sector lost ground on investor anxiety over troubled mortgage lender Home Capital Group Inc. (TSX: HCG). The Index gained only 0.3% in April
prices slipped on the week, with crude oil prices sliding -3.0% during the
– I’m turning 65 this year, and I plan to retire from my full-time
employment and do some part-time consulting work. My wife also plans to
retire, although she’s 61. We own our home free and clear, and we have
accumulated about $500,000 each in our RRSPs. My wife and I both employer
pension plans that will pay out about $30,000 annually each. I also have
about $50,000 in a Tax-Free Savings Account. I expect to get near the
maximum Canada Pension Plan benefit, although at my income level, I’m not
sure about Old Age Security. We’d like to do some planning, because we’re
not quite sure where or how we should start collecting our retirement
income. Do you have any suggestions? – Kevin P., Richmond Hill, Ontario
As the May 1 personal tax filing deadline approaches, it’s appropriate to
be reminded of the tax audit season that follows, especially for new
couples. Filing errors in reporting marital status, and especially
common-law relationships, could be the first big challenge when faced with
a tax review.
TD Asset Management has long had one of the most respected fixed-income
teams on the street and has consistently delivered returns that are in line
with the FTSE/TMX Canadian Bond Universe, with comparable levels of
volatility. A good example is the
TD Canadian Core Plus Bond Fund, which is very similar to the highly-regarded
TD Canadian Bond Fund. The main difference is that the Core Plus offering allows the managers
the ability to invest up to 30% of the fund in “non-core” investments such
as high-yield bond and investment-grade global bonds. Let’s have a look at
how this strategy has worked.
With increasing globalization of people and their assets, a growing and
often hidden threat is multiple taxation on death. Different countries tax
in different ways on death, and when those laws collide, the same assets
can be exposed to double and even triple tax or more.