| | Harvest season Selling investments in loss positions can provide tax relief against capital gains Spending frenzy Learn about the new savings account aimed at helping first time home buyers save more. November recap The markets provide a much needed breathe of fresh air as all the main indexes see positive returns in the month of November. | | | | HARVEST SEASON With 2024 right around the corner, it's time to begin planning for the upcoming tax season. If you have taxable capital gains in the current or previous three years, consider selling investments in loss positions. These losses can be applied against your capital gains to reduce or even eliminate taxes. This is known as "tax loss harvesting." While selling an investment for a loss is never and ideal outcome, it provides the opportunity to turn a negative situation into a positive. In normal CRA fashion, there's rules surrounding this practice. Most specifically the "superficial loss rule," which prohibits you (or your spouse) from repurchasing the same investment for 30 days. Should you ignore the time window, your capital loss will be disallowed and not help reduce taxes. It's always best to weigh the pros and cons of tax loss harvesting; only use it in scenarios when deemed appropriate. i.e. don't sell a good investment just because it's having a bad week. | | | | | | SPENDING FRENZY The holidays are a time for celebration, family, eating lots of food, and the occasional eggnog. So-to comes the topic of buying gifts and budgeting how much you're willing to spend this year. While some people enjoy spending all day shopping, others get sweaty palms just at the thought. Whatever the case, we always recommend spending within your limits and setting reasonable budgets. This is a time for joy, not being stressed over pending credit card bills due the next month. | - Average household spending to drop 11%
- 55% plan to spend in retail stores versus online
- 52% will delay shopping to wait for sales
- Supporting local businesses intent is up 8% this year to 82%
- Only 41% of Canadians plan to adhere to a budget
- Black Friday grows in popularity for buying items on sale
| | | | November breathes a sigh of relief as markets rebound from declines experienced over the past few months. The main market indexes saw gains across the board with the Dow up 8%, S&P 500 up 8.2%, and the TSX up 6.6%. The 2023 trend of volatility continues to be prevalent, however we’re beginning to see the ship steer in the right direction – up. Bond and GIC rates have continued to slowly retreat, which is good news for dividend paying stocks who have taken a beating this year due to the high interest rate landscape. With the gift-giving season in full swing, lets hope the markets are feeling generous and can provide us with a strong end to the year! From the entire Castledine team, we wish you all a very happy holidays and hope you spend lots of time with family and friends. We’ll see you in the New Year! | | | | | | Harvest season Selling investments in loss positions can provide tax relief against capital gains Spending frenzy Consumers hit the stores to begin holiday shopping. Latest retail outlook for this holiday season. November recap The markets provide a much needed breathe of fresh air as all the main indexes see positive returns in the month of November. | | | | HARVEST SEASON With 2024 right around the corner, it's time to begin planning for the upcoming tax season. If you have taxable capital gains in the current or previous three years, consider selling investments in loss positions. These losses can be applied against your capital gains to reduce or even eliminate taxes. This is known as "tax loss harvesting." While selling an investment for a loss is never an ideal outcome, it provides the opportunity to turn a negative situation into a positive. In normal CRA fashion, there's rules surrounding this practice. Most specifically the "superficial loss rule," which prohibits you (or your spouse) from repurchasing the same investment for 30 days. Should you ignore the time window, your capital loss will be disallowed and not help reduce taxes. It's always best to weigh the pros and cons of tax loss harvesting; only use it in scenarios when deemed appropriate. i.e. don't sell a good investment just because it's having a bad week. | | | | | | SPENDING FRENZY The holidays are a time for celebration, family, eating lots of food, and the occasional eggnog. So-to comes the topic of buying gifts and budgeting how much you're willing to spend this year. While some people enjoy spending all day shopping, others get sweaty palms just at the thought. Whatever the case, we always recommend spending within your limits and setting reasonable budgets. This is a time for joy, not being stressed over pending credit card bills due the next month. | - Average household spending to drop 11%
- 55% plan to spend in retail stores versus online
- 52% will delay shopping to wait for sales
- Supporting local businesses intent is up 8% this year to 82%
- Only 41% of Canadians plan to adhere to a budget
- Black Friday grows in popularity for buying items on sale
| | | November breathes a sigh of relief as markets rebound from declines experienced over the past few months. The main market indexes saw gains across the board with the Dow up 8%, S&P 500 up 8.2%, and the TSX up 6.6%. The 2023 trend of volatility continues to be prevalent, however we’re beginning to see the ship steer in the right direction – up. Bond and GIC rates have continued to slowly retreat, which is good news for dividend paying stocks who have taken a beating this year due to the high interest rate landscape. With the gift-giving season in full swing, lets hope the markets are feeling generous and can provide us with a strong end to the year! From the entire Castledine team, we wish you all a very happy holidays and hope you spend lots of time with family and friends. We’ll see you in the New Year! | | | 
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