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FIFA World Cup 2026 & Your Wallet: How to Cash In Right Now

  The biggest sporting event in history is happening right now in Canada. Here's what it means for your money — whether you own property, rent, or just want to watch. The 2026 FIFA World Cup kicked off on Canadian soil on June 12 — and whether you've been following the matches or not, this tournament is already leaving a mark on Canadian wallets. Toronto and Vancouver are hosting games through July 19, and the economic ripple effects are very real: in hotels, short-term rentals, restaurants, and yes, your tax return. If you're a homeowner — especially in Toronto or the GTA — there's still time to benefit. And if you're simply a Canadian taxpayer, it's worth knowing exactly what this tournament is costing us, and what we're getting back. Here's everything you need to know about the FIFA World Cup and your money. The Big Picture: What This Tournament Is Worth to Canada FIFA projects that hosting the World Cup will contribute up to CAD $3.8 billion in eco...
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Year-End Tax Planning Tips for Canadian Investors

 

                                                          

As the end of the year approaches, it's a good time to review your investment portfolio and see if there are any tax-saving strategies you can implement. Here are some ideas to consider:

- Realize capital losses to offset capital gains. If you have realized capital gains in 2023, you can sell some of your losing investments to generate capital losses that can reduce or eliminate your taxable capital gains. You can also carry back capital losses up to three years or carry them forward indefinitely to offset future capital gains.

- Contribute to your RRSP or TFSA. If you have contribution room in your registered retirement savings plan (RRSP) or tax-free savings account (TFSA), you can make a contribution before the end of the year to boost your savings and reduce your taxes. RRSP contributions are deductible from your income, while TFSA contributions are not taxable and grow tax-free.

- Donate securities to charity. If you have appreciated securities in your portfolio, such as stocks, bonds or mutual funds, you can donate them directly to a registered charity and receive a tax receipt for their fair market value. This way, you can avoid paying capital gains tax on the appreciation and claim a charitable donation credit.

- Swap assets with your spouse. If you and your spouse have different marginal tax rates, you can swap assets that generate income, such as interest, dividends or rent, to lower your overall tax bill. For example, if you are in a higher tax bracket than your spouse, you can transfer some of your income-producing assets to them in exchange for assets that generate capital gains, which are taxed at a lower rate.

- Review your asset allocation and rebalance your portfolio. The end of the year is also a good opportunity to review your asset allocation and make sure it still matches your risk tolerance and investment goals. If some of your assets have performed better or worse than others, you may need to rebalance your portfolio by selling some of the overperforming assets and buying more of the underperforming ones. This can help you maintain a diversified portfolio and reduce your risk exposure.

These are just some of the tax planning ideas that Canadian investors should consider before the year-end. For more personalized advice, consult with a qualified tax professional who can help you optimize your investment strategy and minimize your tax liability.

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