Tax season in Canada is fast approaching, and for many Canadians, the thought of filing their income tax return can feel a little overwhelming. But here’s the good news—filing your taxes online is not only simple, but it’s also free! Thanks to the Canada Revenue Agency (CRA), you can file your personal income tax return Continue reading
Finance
How Recent CRA Tax Changes Could Impact Your Finances
As the 2025 tax season approaches, Canadian taxpayers face a series of significant changes to the tax landscape that could impact their returns in major ways. Whether you’re a first-time filer or a seasoned tax pro, staying on top of these updates is crucial to ensuring you maximize your refund or minimize your owed taxes. Continue reading
How This Aussie Couple Gave Themselves a $42,000 Pay Raise by Quitting Smoking – A Life-Changing Financial and Health Transformation
In a remarkable journey of self-discovery and financial awakening, Jennie and Scott Bell from Dubbo, New South Wales, have managed to boost their annual income by an incredible $42,000—without working extra hours or changing jobs. Their secret? Quitting smoking. By simply calculating their daily tobacco expenses, the couple realized they were spending a staggering amount Continue reading
Bank of England Slashes Interest Rates to 4.5% Amid Economic Slowdown and Inflation Fears
The Bank of England (BoE) has cut interest rates to 4.5%, a move aimed at providing financial relief to borrowers amidst an increasingly sluggish economy. However, the decision comes with a stark warning that inflation is expected to peak at 3.7% by autumn, placing further pressure on households. UK Economy Faces Stagflation as Growth Forecast Continue reading
HMRC’s Inheritance Tax Crackdown: Thousands Face Investigations Over Suspected Underpayments
HM Revenue & Customs (HMRC) is ramping up its efforts to recover underpaid inheritance tax (IHT), with thousands of estates expected to come under investigation. In the last tax year, HMRC estimated that taxpayers underpaid IHT by a staggering £325 million, leading to an intensified crackdown set to take full effect in 2025. Rising Scrutiny Continue reading
After 8 Years, Ontario Property Assessments Are Resuming What It Means for Homeowners and Property Taxes in Barrie, Orillia, and Simcoe County
For nearly a decade, Ontario homeowners have been in the dark when it comes to property assessments, with the last official assessment dating back to 2016. In 2020, the Ontario government decided to pause property reassessments due to the COVID-19 pandemic, leaving many residents worried about the potential for skyrocketing property taxes once the reassessments Continue reading
Ontario Trillium Benefit Payments for February Are Coming Soon Here’s What You Could Receive
February is here, and it’s bringing a fresh round of government assistance to help Canadians meet the rising cost of living. If you’re an Ontarian, you could be receiving a much-needed boost in the form of the Ontario Trillium Benefit (OTB) this month, offering financial relief for expenses such as energy bills and property taxes. Continue reading
Stock Up Now Canada’s GST/HST Break on Groceries Ending Soon
Canada’s GST/HST break on grocery items is coming to an end soon, and if you’re looking to save on your next grocery bill, now is the time to stock up! As of Saturday, February 15, 2025, the temporary freeze on the Goods and Services Tax (GST) and Harmonized Sales Tax (HST) will expire, and certain Continue reading
Centrelink Payment Schedule 2025: Updated Dates and Bonus Details
As the year 2025 approaches, Centrelink beneficiaries must stay informed about the updated Centrelink Payment Schedule 2025. These payments provide essential financial assistance to eligible Australians, including retirees, job seekers, and individuals with disabilities. Understanding the schedule helps recipients manage their finances effectively. Importance of Centrelink Payments Centrelink, a branch of Services Australia, provides financial Continue reading
Over a Million Taxpayers Miss Deadline: What Happens Next and How to Avoid Penalties
An estimated 1.1 million people have missed the self-assessment tax return deadline, according to HM Revenue and Customs (HMRC). This means they now face financial penalties, unless they can provide a valid excuse for their late submission. What Happens If You Missed the Deadline? HMRC has outlined the penalties for failing to file a tax Continue reading