Tag: Cash

Concern Grows Over Possible Recession

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As the Bank of Canada raises interest rates to keep pace with spiralling inflation and the stock market performance dims as the economy runs out of room to grow, it appears a perfect storm is brewing for a recession to strike. The concern is that as the central banks raise…

Luxury Tax Expected to Lower Sales and Employment

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In its 2021 budget, under bill C-19, the Liberal government announced plans to impose a luxury tax on the sale of new cars, boats and aircraft, bought for personal use. The tax is to be applied as the lesser of either 10% on the vehicle’s purchase price or 20% on…

Seniors Concerned Following T4A Tax Slip Delay

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Tens of thousands of Canadian seniors have reportedly been unable to file their 2021 tax returns following an error made by Service Canada in regards to their federal tax slips. Taxpayers have a May 2, 2022 deadline to submit their tax returns. The CRA has not extended this deadline. Senior…

Cryptocurrency Trading Sees A Rise

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Cryptocurrency is finally stripping itself of its old title as a fad, and is seeing widespread adoption. Particularly a lot more investing is happening in Canada. A lot of speculation is normal surrounding a new concept, especially a digital currency that is separate from the government. However nowadays holding cryptocurrency…

Wealth Tax Finds Support Among Many Canadians

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The NDP and the Green Party revived their proposition for a wealth tax after a Parliamentary Budget Officer report back in June stated 1% of the country’s highest earners possessed over 25% of the country’s total wealth. Although the Bloc Quebecois, Liberals, and Conservatives objected to the NDP motion for…

Canadians Finding Unclaimed Cheques on Canada Revenue Agency Website

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Many Canadians are finding uncashed government cheques worth hundreds – and in some cases thousands – of dollars through a little-known feature on the CRA website. The CRA recently introduced a tool in the My Account portal that allows users to collect and cash in on any unclaimed cheques, dating…

Saving Money Means Forming the Right Habits and Priorities

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Monthly bills like car payments, rent, groceries, mortgages, and credit cards debt can leave very little left over for savings and investment. Even for Canadians with relatively high incomes, it can seem like there are always new expenses popping up that make planning and saving for the future nearly impossible.…