For Canadian investors, the Tax-Free Savings Account (TFSA) limit for 2020 stands at $6,000, bringing the total contribution limit for individuals who have never invested in TFSA since its inception in 2009 to $69,500.
For example, if you were 18 or older in 2009 and have never contributed to your TFSA, then in 2020 you can allocate $69,500 to the account. On the other hand, if you have reached the TFSA contribution limit of $63,500 (between 2009 and 2019) then you have an additional $6,000 to invest in 2020.
Investing in a tax-free investment vehicle should be a top priority for investors. The TFSA is a registered account that allows for tax-free withdrawals, while the Registered Retirement Savings Plan (RRSP) has a tax on withdrawals. TFSA should be viewed as a long-term investment account that can be used to create substantial wealth.
But where do you allocate your funds? Currently, the markets are trading at record highs. However, some stocks are still trading at an attractive valuation with significant upside potential.
Enbridge stock is trading 18% below record highs
Enbridge is a Canada-based energy transportation and distribution company. It is engaged in delivering energy and operates through five business segments such as Liquids Pipelines, Gas Pipelines & Processing, Gas Distribution, Energy Services, and Green Power & Transmission.
Enbridge is a domestic giant. With a market cap of $108.9 billion and an enterprise value of $187.96 billion, it’s the largest energy company in Canada. Enbridge stock has returned 12.6% in the last year. It has gained 25% since August 2019, but is still trading 18% below its record highs.
The energy sector in Canada was decimated in 2014 as oil prices crashed due to a strong U.S. dollar and lower demand resulting in oversupply. The global oil prices fell from US$100/barrel in 2013 to below US$50/barrel in 2014. The energy sector is highly regularized in Canada, which means the limited pipeline capacity has resulted in lower regional prices.
Enbridge is North America’s largest pipeline operator with a wide network. Energy producers bank heavily on pipelines to transport oil as it remains the cheapest, fastest and safest way to do so, making Enbridge an enviable long-term bet.
Revenue, growth, and valuation
Analysts expect Enbridge to increase sales by 7.7% to $49.97 billion in 2019 and 0.4% to $50.16 billion in 2020. Comparatively, its earnings are estimated to rise by an annual rate of 6.2% in the next five years.
The stock has a market cap to sales ratio of 2.2, a price to book ratio of 1.77, and an enterprise value to sales ratio of 3.8. It is trading at a forward price to earnings multiple of 20.4, which is reasonable, especially after accounting for a juicy forward dividend yield of 6%.
Enbridge has little leeway to increase dividend payments, as the payout ratio at the end of Q3 stood at 99.83%. The company has a debt balance of $68.43 billion and a large part of its operating cash flow (around $10 billion) will be directed to principal and interest payments.
Enbridge is a stock that has made a strong comeback in the last two years. It is trading at an attractive valuation and might move higher in 2020.
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Top tips for better pension investment and boosting your retirement income – Yahoo Canada Sports
The state pension age for both men and women will rise to 66 on 6 October.
When the State Pension was introduced in 1948, a 65-year-old could expect to spend 13.5 years in receipt of it – about 23% of their adult life, according to a government analysis. This age-span has been increasing ever since.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Latest projections from the Office for National Statistics show that the number of people over state pension age in the UK is expected to grow by a third between 2017 and 2042, from 12.4 million in 2017 to 16.9 million in 2042.” data-reactid=”25″>Latest projections from the Office for National Statistics show that the number of people over state pension age in the UK is expected to grow by a third between 2017 and 2042, from 12.4 million in 2017 to 16.9 million in 2042.
“More than a decade of rising pension ages has made an enormous difference to people’s working lives. However, so far, it hasn’t made enough difference to their pensions,” said Sarah Coles, personal finance analyst at Hargreaves Lansdown.
“We don’t know how much we’ve saved, or where it’s invested, and two thirds of people aren’t confident they’ll be able to afford retirement. Women are in a particularly worrying position, because almost three quarters aren’t sure they can ever afford to stop work.”
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="READ MORE: Brits unknowingly funding climate change through their pensions” data-reactid=”28″>READ MORE: Brits unknowingly funding climate change through their pensions
But whatever the circumstances, there are ways you could make a better pension investment and boosting your retirement income. Below is what experts at Hargreaves Lansdown say help you make the most of your pension.
<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Five steps to better pension investment” data-reactid=”30″>Five steps to better pension investment
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Don’t be afraid to admit you don’t know” data-reactid=”31″>Don’t be afraid to admit you don’t know
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Going back to basics about what a pension is and how it works can make things a lot clearer. There is plenty of useful resources online, including the Money Advice Service, a government backed service giving free and impartial money advice, and the Pensions Advisory Service, as well as information from pension providers.” data-reactid=”32″>Going back to basics about what a pension is and how it works can make things a lot clearer. There is plenty of useful resources online, including the Money Advice Service, a government backed service giving free and impartial money advice, and the Pensions Advisory Service, as well as information from pension providers.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="If it’s a workplace pension, speak to your employer” data-reactid=”33″>If it’s a workplace pension, speak to your employer
Your employer will be able to tell you about your company pension and should have information booklets to explain how it works. If you don’t feel like working your way through written information, ask for a meeting where someone can explain it fully for you.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Check what you’re invested in ” data-reactid=”35″>Check what you’re invested in
If you don’t know where you’re invested, the chances are you’ll be in your scheme’s default fund — because this is where you end up if you haven’t made an active investment choice. Ask for a copy of the default fund factsheet, which will show you the charges you’re paying, and how the investments have grown compared to the average of similar funds.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Work out if your investments are right for you” data-reactid=”37″>Work out if your investments are right for you
If you’re in a default fund, it’s likely around two-thirds of your pension will be invested in shares. This gives you the best chance of growing your money. The rest will probably be in bonds and cash which tend to fluctuate in value less.
If you’re under 40 you can consider having a larger proportion of your pension invested in shares. Most pensions will give you some alternative options, so ask for details or take advice to get the right investments for you.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Set a date to review your handiwork” data-reactid=”40″>Set a date to review your handiwork
Set a date to look at your progress – it can be helpful to get into the habit of checking up on your pension at least once a year. When you do, check how the funds are doing and if they are still right for your circumstances.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="READ MORE: One in three Brits have ‘no clue’ how their pension works” data-reactid=”42″>READ MORE: One in three Brits have ‘no clue’ how their pension works
“If you’re at an earlier stage in your career, the key is putting aside as much as you can afford as early as you can afford to do so. If you have opted out of your workplace pension, or weren’t automatically put into it because you earn less than £10,000, talk to your employer about getting into the scheme. Once you start paying in, they’ll have to do so too — so your efforts will be magnified,” said Coles.
It is also advisable to reassess your retirement choices. The below tips could be helpful.
<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Five key questions you should ask to get your pension on track” data-reactid=”45″>Five key questions you should ask to get your pension on track
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What kind of retirement do I want? ” data-reactid=”46″>What kind of retirement do I want?
It’s a good idea to ask yourself when and how you plan to retire, and what kind of lifestyle you want to be able to afford.
This will help you work out how much money you need after you retire — and when you need that income to begin.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How much of a lump sum do I need in order to generate that income? ” data-reactid=”49″>How much of a lump sum do I need in order to generate that income?
The experts recommend using an online pension calculator to give you a good general guide as to what you need to save.
It’s worth looking up the paperwork for any pensions you have, and checking what’s sitting in the pot.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How much do I need to contribute — and for how long — in order to build that lump sum?” data-reactid=”57″>How much do I need to contribute — and for how long — in order to build that lump sum?
Again there are lots of pension calculations online that can help you answer this.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How much do I want my pension investments to grow, and what risk am I prepared to take?” data-reactid=”59″>How much do I want my pension investments to grow, and what risk am I prepared to take?
Figuring this out will help you decide on the kinds of investments that should go into your pension portfolio.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="READ MORE: UK pensioners lose £30m to scammers” data-reactid=”61″>READ MORE: UK pensioners lose £30m to scammers
Meanwhile, a survey has found that only 36% of people are confident they’ll ever be able to afford to retire.
Financial uncertainty is affecting women more than men with just 26% of women confident they’ll ever be able to afford to retire, compared with 46% of men.
Just a third of Brits know how much income they’ll need in retirement and only 37% of people have a clear idea of what their pensions are worth, according to the survey by Hargreaves Lansdown.
It also showed that only 32% know where their pension is invested, with the majority confused about what was happening with their cash.
Lakeview Hotel Investment Corp Announces Second Quarter 2020 Results – Canada NewsWire
WINNIPEG, MB, Sept. 30, 2020 /CNW/ – Lakeview Hotel Investment Corp (“LHIC”) is pleased to report its financial results for the Quarter ended June 30, 2020. The following comments in regard to the financial results should be read in conjunction with the June 30, 2020 financial statements and Management Discussion and Analysis which are available on the SEDAR website www.sedar.com.
The effects of COVID on hotel occupancies for the second quarter were severe. As this pandemic continues, it is not clear how long it will remain and the extent that it will continue to affect the tourism and hospitality sector. LHIC continues to safeguard employees and customer safety, reduce and/or defer expenses and minimize non-essential expenditures. At this time it is very difficult to determine how long it will take for business levels to normalize.
Following is a comparison of the operating results for the three and six months ended June 30, 2020 compared to the results of operations for the comparable period in 2019:
Three months ended
Six months ended
Food & Beverage
Gain on sale of income properties
Net income (Loss)
Basic and diluted income (loss) before income tax per share
Reconciliation to funds from Operations
Amortization of income properties
Amortization of franchise fees
Gain on sale of income properties
Amortization of right-of–use assets
Income from Lakeview Flag Licensing General Partnership
Loss (income) from Lakeview Flag Management General
Unrealized loss (gain) on change in fair value of interest rate swap
Provision for impairment of income properties
Funds from Operations
Basic and diluted funds from Operations per share
Contributions to reserve account
Adjusted funds from Operations
Basic and diluted adjusted funds from Operations per share
Lakeview Hotel Investment Corp is listed on the TSX Venture Exchange under the symbol “LHR”. Lakeview Hotel Investment Corp received income from ownership, management and licensing of hotel properties.
The TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Lakeview Hotel Investment Corp
For further information: Rudy Beyer, Chief Financial Officer, Tel: (204) 975-0623, Fax: (204) 957-1697, Email [email protected]
Enforcement Notice – Decision – IIROC Sanctions Vancouver Investment Advisor Dwight Cameron Mann – Canada NewsWire
VANCOUVER, BC, Sept. 30, 2020 /CNW/ – Following a penalty hearing held on July 6 -7, 2020, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) imposed the following sanctions on Dwight Cameron Mann:
a) A fine in the amount of $250,000
b) A compliance audit of Mann and the Mann team shall be conducted by an independent compliance auditor, subject to certain terms and conditions, for the period of July 1, 2020 to June 30, 2021.
Mr. Mann is also required to pay costs in the amount of $50,000.
The Order is effective September 21, 2020. The penalty decision will be available at www.iiroc.ca. In an earlier decision dated February 25, 2020, the Hearing Panel found that Mr. Mann engaged in misleading conduct in certain clients’ accounts. The Panel also found that he made an unjustified promise of specific results and failed to report a client’s complaint.
A copy of the Sanction Order can be found at:
The decision on Liability can be found at:
IIROC formally initiated the investigation into Mr. Mann’s conduct in May 2018. The alleged violations occurred while he was a Portfolio Manager and a Registered Representative with a Vancouver branch of National Bank Financial Ltd., an IIROC-regulated firm. Mr. Mann is currently a Portfolio Manager and a Registered Representative at the Vancouver branch of Canaccord Genuity Corp., an IIROC regulated firm.
Documents related to ongoing IIROC enforcement proceedings – including Reasons and Decisions of Hearing Panels – are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.
* * *
IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada’s debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 175 Canadian investment dealer firms and their nearly 30,000 registered employees, the majority of whom are commonly referred to as investment advisors. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces.
IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.
All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – General News
For further information: Enforcement Contact: Warren Funt, Vice-President, Western Canada, 604 331-4750, [email protected]; Media Contact: Andrea Zviedris, Manager, Media Relations, 416 943-6906, [email protected]
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