The Canada Revenue Agency (CRA) plays a vital role in administering benefits and programs designed to support Canadians. Among these, the $928 payment has gained significant attention in 2025 as a crucial financial relief measure. Whether you’re hearing about this payment for the first time or seeking more details, this article breaks down everything you Continue reading
Finance
Top Picks to Buy During Canada’s GST Holiday Tax Break
In an effort to ease the financial burden on Canadians during the costly gift-giving season, Prime Minister Justin Trudeau announced a GST holiday on essential items. The two-month tax break, which began on December 14 and runs through February 15, has prompted Canadians to share their strategies for saving money. From stocking up on groceries Continue reading
Ontario’s Wealthiest Family Holds Nearly $100 Billion Fortune
Canada’s wealthiest individuals continue to amass extraordinary fortunes, according to the latest January 2025 data pulled from Forbes’ Real-Time Billionaires list. While high-profile names like Elon Musk and Jeff Bezos dominate the global rankings, Canadians are making their mark, with a few prominent personalities regularly appearing among the world’s wealthiest. The Thomson Family: Canada’s Richest Continue reading
Canada Braces for a Surge in 2025 Mortgage Renewals How Homeowners Are Preparing for Payment Shocks
Homeowners across Canada are bracing for the financial impact of mortgage renewals in 2025. For many, the anticipated rate increases will present significant challenges. Below, we’ll explore what this means for Canadians, the broader implications on the housing market, and strategies to secure the best deal. Rising Mortgage Rates: A Looming Challenge Alecia, a 63-year-old Continue reading
New Benefit Provides Canadian Students with an Extra $150 Monthly
Thousands of Students to Benefit from CPP Changes A new government initiative is set to provide thousands of Canadian students with additional financial support in 2025. On Wednesday, Minister of Seniors Joanne Thompson announced the introduction of a new benefit for part-time students aged 18 to 24 whose parents are disabled or deceased and contributed Continue reading
Canadian Parents to Receive Higher Government Benefits in 2025
Canadian parents can look forward to an increase in their Canada Child Benefit (CCB) payments starting in July 2025. However, the upcoming boost won’t match the substantial increases seen in the past two years. Annual CCB Adjustments and Indexation Every July, the Canadian government adjusts CCB amounts to align with changes in the cost of Continue reading
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
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
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