Oaken Blog

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

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

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

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

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

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

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

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

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

Home Trust Company (“Home Trust”) recently announced the creation of Home Bank, along with some other minor changes for Oaken Financial. In this Oaken Blog post, we asked Benjy Katchen — Executive Vice President of Deposits & Consumer Lending at Home Trust — to tell us more about Home Bank, and the additional enhancements introduced … read more