KeatsConnelly Cross-Border Weekly Best of the Web 2014-1-17

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets. This week we offer a mix of articles discussing debt and rrsps, CRA snitch line, and the loonie.

Feeding the debt monster is killing our RRSPs (http://business.financialpost.com)  This year’s retirement savings plan message is loud and clear, consumers say they have too much debt and are focused on paying it down. Between the finance minister, the Bank of Canada and various experts shouting concern about debt levels, maybe it shouldn’t come as too much of a surprise that consumers are heeding the warning. The problem is it’s now the No. 1 reason to not make an RRSP contribution…

Tax cheats beware: CRA launches snitch line (www.advisor.ca)  CRA has a new way to catch up with Canadians cheating on their taxes. The government has launched a tips hotline to catch those hiding money in offshore accounts. On cases worth $100,000 or more, a tipster would get a cut of any money the CRA recovers based on her information. But if she’s convicted as part of the tax scheme herself, she won’t be compensated…

Loonie a worldwide loser so far in 2014 (www.advisor.ca) The Canadian dollar drifted lower Wednesday morning amid general U.S. dollar strength. The loonie was down 0.07 of a cent to 91.27 cents US to levels last seen in September 2009.The new year is only two weeks old and the loonie has already fallen 3.1%, making it the worst performing primary currency. The reasons for the decline are many. One is that the greenback has gained in value as the Federal Reserve starts to back away from its massive monthly bond purchases…

Come back next week for more interesting news and articles. Enjoy your weekend!

 

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