As we bid farewell to 2007, let’s look back at the news that directly affected our pocketbooks:

  1. The Federal Budget in March introduced major changes to RESPs and introduced a new child tax credit.
  2. Vanguard introduced the Europe Pacific ETF (VEA) and injected much needed competition to the iShares MSCI EAFE Index Fund (EFA).
  3. After charging $25 to $30 per trade for close to a decade, a few major discount brokers started lowering commissions for some account holders.
  4. In its fall fiscal update, the Federal Government reduced the GST to 5%, lowered personal income taxes and cut corporate taxes.

I hope 2007 was a prosperous year for you and wish you more of the same in 2008. Happy New Year!

This article has 4 comments

  1. I’m surprised the rise of the Canadian dollar against the American dollar didn’t make the list, and subsequently consumers demanding lower prices in comparison to U.S. prices.

  2. Canadian Capitalist

    Jon: I’m reviewing 2007 returns for all asset classes tomorrow and the Canadian dollar rise is the biggest story by far. I do agree with you that it is a consumer story as well…

  3. They said on the business news this morning that the loonie was second only to the Brazilian Real for currency appreciation in 2007. Unfortunately, I cancelled my subscription to The Economist magazine a while ago so I’m not as well informed about things outside of North America anymore… I’ll have to re-subscribe sometime, I love that magazine.