Finance

As the two-month GST holiday kicks off, Canadians are eagerly taking advantage of the tax break. Announced by Prime Minister Justin Trudeau in November, this initiative aims to reduce the financial burden during the holiday season, making essential purchases tax-free from December 14 to February 15. What’s Included in the GST Cut? The GST holiday Continue reading

The Canadian Dollar (CAD) has stalled after a brief recovery, struggling to gain significant bullish momentum against the US Dollar (USD). On Tuesday, CAD’s movement remained largely sideways, hovering at familiar levels as it continued to face challenges following a sharp decline in late 2024. Weak PMI Figures Weigh on CAD Sentiment Despite a brief Continue reading

The recent prorogation of Parliament has left Canadians uncertain about proposed changes to the capital gains tax. These changes, initially introduced by the Liberal government, have sparked intense debate among businesses, economists, and taxpayers alike. Below, we break down what the changes entail, their potential impact, and the current state of affairs. What Are the Continue reading

As inflation continues to impact household budgets, there’s some good news for Canadians in 2025. The federal government is boosting several recurring benefit payments, putting more money into the pockets of eligible individuals and families. These changes, driven by a 2.7% inflation adjustment, apply to everything from child benefits to pensions. If you’re wondering how Continue reading

In a significant move last month, the Bank of Canada (BoC) reduced its key interest rate from 3.75% to 3.25%. This marked the fifth and final major rate announcement of the year, exceeding experts’ predictions of a 0.25% cut. The decision comes amidst rising economic concerns, particularly an increase in Canada’s unemployment rate, which now Continue reading

The new year is here, and with it comes a calendar full of financial relief programs from the Canada Revenue Agency (CRA). From monthly child benefits to quarterly tax credits and retirement pensions, these government payments can make a significant difference in your financial planning for 2025. Monthly and Quarterly CRA Benefits Canada Child Benefit Continue reading

Amid rising prices and the ongoing cost-of-living crisis, the Canadian government has introduced a temporary Goods and Services Tax (GST)/Harmonized Sales Tax (HST) break to provide some relief for Canadians. This initiative, which will be in effect from December 14, 2024, to February 14, 2025, aims to help ease the financial burden during the holiday Continue reading

The Canadian Dollar (CAD) experienced a significant boost overnight following reports that Prime Minister Justin Trudeau may resign this week. Additionally, speculation that U.S. President-elect Donald Trump might scale back plans for widespread tariffs has further supported the CAD, according to Scotiabank’s Chief FX Strategist, Shaun Osborne. Political Uncertainty Surrounding PM Trudeau’s Possible Resignation Reports Continue reading

The Canada Revenue Agency (CRA) is kicking off 2025 with its first GST/HST payment on January 3, 2025. This essential payment is designed to support individuals and families with low to moderate incomes by offsetting the costs of the goods and services tax (GST) and harmonized sales tax (HST). If you’re eligible, this is an Continue reading

The Workplace Safety and Insurance Board (WSIB) plays a critical role in supporting Ontario’s workforce, providing benefits for employees impacted by workplace injuries or illnesses. As the cost of living continues to rise, WSIB has announced significant updates to pensions and benefits for 2025. This includes a 2.7% increase in pensions, effective January 1, 2025, Continue reading