For the first time in three decades, Canada’s inflation rate has surpassed 5%. According to a Statistics Canada report recently released, the consumer price index hit the 5.1% mark in January due to supply chain problems that pushed up prices for transportation, shelter, food, alcohol, tobacco, and cannabis. Statistics Canada…

The New Brunswick Apartment Owners Association (NBAOA) is reporting skyrocketing increases in property assessments. NBAOA represents an estimated 70% of rental properties in the province and indicates that the increases could result in over $50 million in additional property taxes each year. According to the association’s president, Willie Scholten, the…

Amendments have been made to the National Instrument 52-108 Auditor Oversight and its Comparison Policy granting the Canadian Public Accountability Board (CPAB) better access to audit working papers from auditors in foreign jurisdictions. If the amendments receive appropriate ministerial approvals, they will come into effect from March 30, 2022. These…

There were expectations that the Bank of Canada would increase interest rates. However, in an unprecedented move, the decision was made to maintain the core lending rate at a very low 0.25%. This target was set at the beginning of the pandemic in March 2020. It was viewed as a…

In a survey conducted by tech vendor Capterra, it appears that public favour concerning cryptocurrencies is growing. Although few Canadian businesses accept payment in such digital currencies, at least 25% of respondents confirmed currently dealing in crypto, while another 37% indicated plans to use them soon. The survey also found…

Quebec Premier, Francois Legault, has announced plans to introduce a tax on adults that decline to get vaccinated against the Covid-19 virus for non-medical reasons. He has termed it a ‘consequence’ for those that were placing an important burden on the healthcare network. The province has been hard hit by…

Despite the dampening financial impact of the pandemic across the globe, this period has seen property prices sharply rise in much of the Canadian market, particularly during 2021. According to WOWA, the two most expensive real estate markets remain Toronto and Vancouver. As of December 21, 2021, the average sold…