Oaken Blog

Welcome to the Oaken Blog!

5 tips to avoid getting phished in by email scams

March 21, 2017

The internet is a wondrous technological advancement that has made the world a smaller place, where virtually everyone is connected with everyone else. But the problem with the internet is that it has made the world a smaller place, where virtually everyone is connected with everyone else. In other words, even though you can now … read more

So, you want to be an Airbnb host

March 9, 2017

Perhaps you’ve heard how easy it is to earn a little extra cash by listing your spare room or vacant apartment on the Airbnb website. You might even know someone who has served as an Airbnb host, and you’re now thinking of trying it for yourself. That’s great. But before you go ahead and list … read more

5 tips for preparing your home for the market

February 21, 2017

As we discussed in an earlier Oaken Blog post, the Principal Residence Exemption (PRE) means that the proceeds from the sale of your main home are not subject to either income tax or capital gains tax. Even if you sell for considerably more than you paid when purchasing the property, you can pocket the proceeds … read more

Oaken to sponsor the Covenant House Guts + Glory Corporate Challenge

February 1, 2017

We’re pleased to announce our sponsorship of the 2nd annual Covenant House Guts + Glory Corporate Challenge, set to take place at the Mattamy Athletic Centre on Wednesday, February 8. Last year’s event raised $370,000 for Covenant House, and this year organizers are aiming for $400,000 in total donations. “We believe strongly in supporting community initiatives, … read more

Income splitting with a spousal RSP

January 18, 2017

If you intend to contribute to your RSP this year, you still have a few weeks to get in before the deadline of March 1. For the 2016 tax year, you may contribute up to 18% of your 2016 income, to a maximum of $25,370. As always, you can carry unused contribution amounts forward, thereby … read more

5 benefits of a high interest savings account

January 4, 2017

The High Interest Savings Account, or “HISA”, is often overlooked as a way to meet specific savings objectives. Which is understandable, as with so many ways available for savers to manage their funds, a humble savings account doesn’t seem to garner much attention. But keep in mind that a HISA is a unique form of savings … read more

What does Canada’s aging population mean for you?

December 1, 2016

In late 2015, Canada recorded an ominous milestone. For the first time, there were more Canadians over the age of 65 than under the age of 15. This aging of the Canadian population is the result of the Baby Boomer generation (defined as those born between 1945 and 1965), and its significant membership winding down their … read more

Overcoming the “Money Illusion” with GIC laddering

November 7, 2016

You’d be forgiven for thinking that the term “Money Illusion” is some kind of magic trick. And while it does suggest that things are not as they appear, there’s nothing magical about it. The term Money Illusion describes the tendency many of us have when we think of money in absolute amounts, and not in … read more

Using rental income to support your retirement

October 4, 2016

Earning rental income to supplement other retirement proceeds is an approach that’s been used successfully by many retirees. Certainly, the prospect of an additional source of steady revenue is highly attractive. But it is not as simple as just sitting back and watching the rent cheques roll in. There’s much to consider before putting a … read more

Volunteering vacations: how to give back by getting away

September 15, 2016

We’ve all heard the old expression that it’s better to give than to receive. So the chance to “receive” a rewarding vacation adventure, while at the same time giving much needed aid and assistance, is a rare opportunity. For a growing number of Canadians, a volunteering vacation is the perfect way to experience a unique … read more

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