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On what Canadians are planning for their average $1,400 tax refund, reasons for the Canada-U.S. price gap and why REITs are on the rise.
•The average tax return this year will amount to $1,400 this year, according to the CRA. A recent TD Canada Trust poll found that most Canadians plan to be relatively prudent with their cash infusion. Some 47% say they will use their return to pay off debt, 34% will save it and 16% will invest. Only 17% will go shopping and 15% will spend it on vacation. What will you do with your return? Whatever you do, don’t fall prey to the tax refund trap.
•The Canada-U.S. price gap is being blamed on multinational companies. Special prices are imposed on retailers in this country as a result of Canada’s small population, according to the Retail Council of Canada.
•Canadian Real Estate Trusts have rallied to the highest levels in five years despite concern the Bank of Canada will raise interest rates to cool the market. Here’s what you need to know about REITs.
•Don’t forget, we are giving away three copies of the MoneySense Guide to Investing in Real Estate. Click here for instructions.
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