The Bank of Canada (BoC) made another bold move on Wednesday, cutting its benchmark interest rate by 50 basis points to 3.25%. This marks the second consecutive half-point reduction, as the central bank continues to navigate an economy showing signs of slowing growth and stabilizing inflation. Fifth Rate Cut Since June The latest reduction is Continue reading
Sophie Wilson
Sophie Wilson is a finance professional with a strong academic background, having studied at the University of Toronto. Her expertise in finance is complemented by a solid foundation in analytical and strategic thinking, making her a valuable asset in the financial sector.
What do GST Free Holiday Means for Canadian Consumers – All we know so far
As Canadians gear up for the busy and often costly holiday season, Prime Minister Justin Trudeau’s government has introduced a temporary measure aimed at providing some financial relief. A two-month reduction in Goods and Services Tax (GST) and Harmonized Sales Tax (HST) has been implemented for a variety of essential items and holiday-related goods. This Continue reading
Working While Receiving CPP Benefits: What Happens, Do Age & Earnings Matter?
You can absolutely continue working while receiving CPP benefits. There’s no mandatory retirement age in Canada, and your employment status doesn’t affect your eligibility for CPP. Age and Your CPP Benefits Do Age Matters? Yes, age significantly impacts your CPP benefits. Post-retirement benefits are additional amounts added to your CPP pension for each year you Continue reading
ODSP Hidden Benefits: Know What Common Disabilities Qualify for ODSP Extra Hidden Benefits
Discover the hidden benefits of ODSP, including common disabilities that qualify and additional perks you might not be aware of. Learn about the extra support and services available to maximize your Ontario Disability Support Program benefits. Stay informed and make the most of your entitlements. Disclaimer: Determining eligibility for ODSP is a complex process that Continue reading
RRSP Withholding Tax: Is It Refundable? Everything You Need to Know
he Registered Retirement Savings Plan (RRSP) is a popular tax-advantaged investment account in Canada, designed to help Canadians save for retirement while reducing their taxable income. However, when it comes time to withdraw funds from an RRSP, a withholding tax is applied, which often raises questions about its refundability. In this article, we’ll break down Continue reading
Canada’s Housing Challenge: The Best and Worst Cities for First-Time Homebuyers
Dreaming of owning your first home in Canada? For many, that dream feels elusive amidst skyrocketing home prices, high rents, and rising living costs. A recent study by Money.ca sheds light on the most and least affordable cities for homebuyers, offering insights into where Canadians can save for a down payment faster and get closer Continue reading
Hidden Treasures: 6 Rare Canadian Dollar Coins Worth $500k
Canada’s dollar coins have a fascinating history, with many designs that go beyond their face value. While today’s Loonie is a staple of Canadian currency, older coins—especially those crafted in silver—have become valuable collector’s items. Some rare coins even fetch thousands of dollars at auction, making it well worth your time to examine your collection Continue reading
Can You Receive Both QPP and CPP ? Key to a Secure Retirement
As Canadians approach retirement, many are curious about the various pension programs available to them. Among the most prominent are the Canada Pension Plan (CPP) and the Quebec Pension Plan (QPP). This article will provide a detailed overview of both plans, clarify whether individuals can receive benefits from both, and discuss the implications for retirees. Continue reading
QPP vs CPP: Which is more secure Retirement Option?
As Canadians approach retirement, understanding the various pension plans available is crucial for effective financial planning. Two of the most significant pension programs in Canada are the Canada Pension Plan (CPP) and the Quebec Pension Plan (QPP). While both plans serve similar purposes, they have distinct features, benefits, and eligibility requirements. This article provides an Continue reading
CPP vs OAS & GIS: Which is Better for Canadian Retirees?
As Canadians approach retirement, understanding the different government benefits available is crucial for effective financial planning. The Canada Pension Plan (CPP), Old Age Security (OAS), and Guaranteed Income Supplement (GIS) are three key programs designed to provide income support to seniors. But which one is better? Let’s explore the differences between CPP, OAS, and GIS Continue reading