As we bid farewell to 2007, let’s look back at the news that directly affected our pocketbooks:
- The Federal Budget in March introduced major changes to RESPs and introduced a new child tax credit.
- Vanguard introduced the Europe Pacific ETF (VEA) and injected much needed competition to the iShares MSCI EAFE Index Fund (EFA).
- After charging $25 to $30 per trade for close to a decade, a few major discount brokers started lowering commissions for some account holders.
- 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!
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4 responses so far ↓
1 moneygardener // Dec 31, 2007 at 12:30 am
Happy New Year to You!
2 Jon D. // Dec 31, 2007 at 1:23 am
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.
3 Canadian Capitalist // Dec 31, 2007 at 1:49 am
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…
4 Phil S // Dec 31, 2007 at 12:26 pm
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.
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