The Canada Dental Benefits (CDB) program is designed to make oral health care more accessible to Canadians, offering financial assistance for a range of dental services. Launched to reduce the financial burden of oral health care, the plan ensures eligible individuals and families receive essential dental treatments without excessive out-of-pocket expenses. Government Benefits Coming in Continue reading
Month: January 2025
Canadian Workers Can Receive Up to $566 from a CRA Benefit Payment This January
The new year brings fresh opportunities for Canadians to take advantage of federal benefits in 2025, including the Advanced Canada Workers Benefit (ACWB). This refundable tax credit supports lower-income workers, helping them tackle the rising cost of living. Advanced payments for the ACWB are being sent out this week, providing timely financial relief for those Continue reading
OAS Pension Benefits Are Not Increasing in January 2025
The Old Age Security (OAS) Pension Benefits remain unchanged for the January to March 2025 quarter, following Service Canada’s recent quarterly review. This decision reflects a decrease in the Consumer Price Index (CPI) toward the end of 2024, resulting in no adjustments to benefit amounts. Here’s a detailed breakdown of what recipients can expect, including Continue reading
Koodo and Virgin Plus Adjust Plans to Compete with Fido
Virgin Plus and Koodo have recently updated their mobile plans, just a day after concluding their Boxing Week promotions. These new plans reflect adjustments to match similar offerings from Fido, with notable changes in pricing and data allowances. New Virgin Plus and Koodo Plans As of January 8, 2025, Virgin Plus and Koodo now offer Continue reading
Loonie Falls as Markets Anticipate Canada’s Response to US Tariff Threat
The Canadian dollar, also known as the loonie, faced its third consecutive day of losses on Thursday as political uncertainty and trade concerns weighed on investor sentiment. Market watchers are awaiting key domestic employment data to gauge the direction of the Canadian economy. Canadian Dollar Slides as Markets Await Jobs Data The loonie traded 0.1% Continue reading
Three Lottery Winners Share $1 Million Here’s How They Plan to Spend It
In an incredible twist of luck, three Ontario residents are celebrating after splitting a $1 million Maxmillions prize in the December 3, 2024, Lotto Max draw. Each winner walked away with $333,333.40, adding a significant boost to their bank accounts. December’s $80 Million Lotto Max Jackpot Made Headlines The December 3 Lotto Max draw was Continue reading
Submit Your Vacant Unit Tax Declaration Before the Deadline
As 2025 begins, Ottawa homeowners are reminded to complete their Vacant Unit Tax (VUT) declaration for all residential properties they own by March 20, 2025. Failing to meet the deadline will result in a $250 late fee for declarations submitted afterward. What is the Vacant Unit Tax (VUT)? Introduced in 2022, the VUT aims to Continue reading
Top Purchases Canadians Are Making During the GST Holiday
As the two-month GST holiday kicks off, Canadians are eagerly taking advantage of the tax break. Announced by Prime Minister Justin Trudeau in November, this initiative aims to reduce the financial burden during the holiday season, making essential purchases tax-free from December 14 to February 15. What’s Included in the GST Cut? The GST holiday Continue reading
Canadian Dollar’s Bullish Recovery Stalls on Tuesday
The Canadian Dollar (CAD) has stalled after a brief recovery, struggling to gain significant bullish momentum against the US Dollar (USD). On Tuesday, CAD’s movement remained largely sideways, hovering at familiar levels as it continued to face challenges following a sharp decline in late 2024. Weak PMI Figures Weigh on CAD Sentiment Despite a brief Continue reading
Uncertainty Surrounds Capital Gains Tax Changes, but CRA Moves Ahead with New Charges
The recent prorogation of Parliament has left Canadians uncertain about proposed changes to the capital gains tax. These changes, initially introduced by the Liberal government, have sparked intense debate among businesses, economists, and taxpayers alike. Below, we break down what the changes entail, their potential impact, and the current state of affairs. What Are the Continue reading