The USD/CAD pair has ended its three-day winning streak, trading near 1.4400 during the European trading hours on Monday. This decline comes as the US Dollar (USD) struggles to maintain momentum amid low trading volumes ahead of the New Year holiday. Factors Influencing USD/CAD Movement US Federal Reserve’s Hawkish Stance The markets continue to digest Continue reading
Kathy Hilton
New GST Payment Scheduled for January 3, 2025
The Canada Revenue Agency (CRA) will issue its first GST/HST payment of the new year on January 3, 2025. This payment aims to assist low- and modest-income individuals and families in offsetting the Goods and Services Tax (GST) and Harmonized Sales Tax (HST) they pay throughout the year. Here’s everything you need to know to Continue reading
B.C. Man Fined $2M for Tax Evasion After Flipping 14 Homes in 4 Years
A serial property flipper in British Columbia, Balkar Bhullar, has been convicted of tax evasion, leading to a hefty penalty. The Canada Revenue Agency (CRA) reports that Bhullar failed to report nearly $7.5 million in earnings and has been fined approximately $2.15 million. Conditional Sentence and Significant Fine On December 19, Bhullar was sentenced to Continue reading
Manitoba’s Latest PNP Draw Issues 276 Invitations for Permanent Residency
The Manitoba Provincial Nominee Program (MPNP) has conducted its second draw of December 2024. Manitoba’s regular draws, held through the Expression of Interest (EOI) system, invite eligible candidates to apply for Canadian Permanent Residency (Canada PR). If you’ve received an invitation in the latest draw, you will have 60 days to submit your application for Continue reading
5 Key Factors Driving a 10% Increase in Home Prices by 2025
The Canadian housing market is poised for a powerful comeback in 2025, driven by a confluence of factors that set the stage for significant growth in single-family detached homes. After a 1.75% decline in interest rates in 2024—slightly below my earlier prediction of 2%—the groundwork has been laid for a housing boom. Here’s why I Continue reading
8 Government Benefits Canadians Can Receive from the CRA This January
The new year is almost here, and so is a fresh wave of government payments from the Canada Revenue Agency (CRA). These benefits, available in January 2025, can provide financial relief after the holidays, helping with everything from childcare to retirement needs. From monthly staples like the Canada Child Benefit (CCB) and Canada Pension Plan Continue reading
How Much Money Does the Average Canadian Save?
With the rising cost of living significantly impacting Canadians’ disposable income, saving money can feel challenging. However, the right financial tools, such as a high-interest savings account (HISA) and tax-sheltered registered accounts, can help you stay on track to meet your financial goals and grow your wealth, regardless of your life stage. Understanding Average Savings Continue reading
Canadian Dollar Declines as Benchmark Yield Rises
The Canadian dollar faced pressure on Thursday, weakening against the U.S. dollar, while benchmark government bond yields climbed. Here’s a closer look at the market movements and key indicators. Loonie Slips Against the U.S. Dollar The Canadian dollar, commonly known as the loonie, traded 0.2% lower at C$1.4395 per U.S. dollar, equivalent to 69.47 U.S. Continue reading
How Much Should You Have Saved by Age 40?
So, you’re in your 30s and feeling pretty good about life. Maybe you’ve earned a promotion or purchased your first home. But amid the wins, financial challenges like daycare fees, mortgage payments, student loans, and the rising cost of living might leave you feeling financially stretched. Add to that the social media envy from seeing Continue reading
10 Government Benefits and Credits Quebec Residents Can Receive in January 2025
The new year is just around the corner, and with it comes a fresh wave of financial support from the Canada Revenue Agency (CRA) and Revenu Québec. These payments aim to provide relief post-holidays and support everything from child benefits to pensions. Here’s a detailed breakdown of the payments you can expect in January 2025, Continue reading