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SuchnaPat – NRI & Canada Guides
Plain-language guides for Newcomers and NRIs working in Canada. These guides help them learn about Canadian taxes and finance. They also cover pensions, researching Toronto schools, and everyday life.
Status (NRI/OCR)
NRI stands for “Non-Resident Indian”. NRIs keep Indian citizenship or nationality but are not considered “residents” of India for tax and specific legal purposes.
Money, Tax & Retirement in Canada
In summary, investment involves allocating capital to assets to generate a return. In contrast, insurance consists of paying a premium to transfer the risk of potential losses to an insurer. Investments aim to grow wealth over time. Insurance seeks to mitigate risk and give financial protection against unexpected events. It’s essential to understand the differences between investment and insurance. Consider both as part of a comprehensive financial plan.
Investment
Investment is the allocation of capital to assets or financial vehicles to generate returns. Investments are typically made to grow wealth over time through capital appreciation, dividends, or interest. Investments include stocks, bonds, real estate, mutual funds, and retirement accounts….read more
On the other hand, Insurance is a contract. It involves an individual (or entity) and an insurance company. The individual pays regular premiums. In return, they get financial protection against specific risks. These risks include accidents, illnesses, natural disasters, property damage, or liability claims…..read more
First Home Savings Account (FHSA)
A registered savings plan for a prospective first-time home buyer helps save for a tax-free home. But it has some limitations. FHSA is designed for Canadians to buy their first home, combining the TFSA and RRSP benefits…. read more
A pension is a fund drawn during employment to support a person’s retirement. A Pension Plan provides a source of income during retirement….read more
Education & Life in Canada
High school program- Ontario
Choosing a high school in Ontario can feel confusing. It is especially confusing in a large city such as Toronto, with many programs and boards. If you want a step‑by‑step guide, visit the separate High School Program – Advice page. It will help you choose the right program and school.
For the most part, driving across Canada is very similar. But, there are some slight differences in the laws and provincial rules of the road….read more
Vastu
Vastu is an ancient Indian system of architecture. It focuses on creating harmony and balance between the built environment and the natural world. The term comes from Sanskrit “vāstu,” meaning “dwelling” or “abode.” ….read more
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