As we approach 2025, a new survey from CIBC reveals that Canadians are placing debt reduction at the forefront of their financial goals. According to the bank’s annual Financial Priorities poll, managing debt and keeping up with rising household costs remain the most pressing concerns for Canadians. Rising Costs and High Interest Rates: Key Financial Continue reading
Kathy Hilton
Time Is Running Out to Claim Your $200 Ontario Taxpayer Rebate for 2025 File Your 2023 Tax Return Now
If you haven’t filed your 2023 tax return yet, time is running out to ensure your eligibility for Ontario’s $200 rebate. The Ontario government has announced that taxpayers have until the end of 2024 to submit their tax returns and claim this rebate. What Is the $200 Rebate? On October 29, the Ontario government revealed Continue reading
Canadian Dollar Finds Modest Support Amid Holiday-Thinned Market Activity
The Canadian Dollar (CAD) saw a modest rise of 0.4% against the US Dollar (USD) on Monday, as global markets prepare to wrap up a quiet 2024 trading season. With many investors sidelined due to the holiday season and midweek market closures for New Year’s Day, the Loonie’s recent movement reflects a lack of strong Continue reading
Smart Estate Planning Tips for Child-Free Canadians
Estate planning is often associated with families and children, but for Canadians without children, it’s just as critical. Without heirs, you might think estate planning is less relevant. However, taking control of how your assets are managed and distributed is vital to ensuring your wishes are honored, minimizing legal complications, and creating a meaningful legacy. Continue reading
Competition Bureau Files Lawsuit Against Rogers Over Alleged Misleading Unlimited Data Claims
Canada’s Competition Bureau has taken legal action against Rogers Communications Inc., accusing the telecom giant of deceiving consumers with advertisements for phone plans marketed as offering unlimited data. The Bureau alleges these plans create a “false or misleading impression” about their features, claiming they include data caps and drastically reduced transfer speeds after those caps Continue reading
Unexpected $36.29 e-Transfer from MNP? Here’s Why Facebook Might Be Behind It
If you’ve recently received an Interac e-Transfer for $36.29 from MNP, rest assured, it’s not a scam. This payment is part of the settlement for Facebook’s Sponsored Stories class action lawsuit. What Was the Facebook Sponsored Stories Lawsuit About? The lawsuit focused on Facebook allegedly using users’ names and profile pictures in advertisements without their Continue reading
Charities Urge Extension of Federal Tax Credit Deadline to February to Recover Lost Donations
Local charities are urging the federal government to extend the deadline for claiming charitable donations on tax returns to the end of February. This measure, they say, would help mitigate funding losses caused by the Canada Post strike and encourage donors to maintain their giving habits through 2025. The Impact of the Canada Post Strike Continue reading
USD/CAD Struggles Near 1.4400 Amid Rising Crude Oil Prices
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
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