Canadians, it’s time to check your kitchen cupboards! The Canadian Food Inspection Agency (CFIA) has issued multiple food recalls across the country, impacting popular items like eggs, chocolate, granola bars, and more. These recalls are due to serious safety concerns, such as salmonella contamination, undeclared allergens, and foreign objects in products. Keep reading to find Continue reading
CRA’s New Rules What They Mean for Short-Term Rental Income Deductions
If you rent out residential properties for periods of less than 90 consecutive days, changes coming in 2024 will impact your ability to claim income tax deductions. Here’s everything you need to know to stay compliant and optimize your deductions. Key Changes Starting in 2024 Non-Compliant Rentals and Deduction Restrictions Starting in 2024, taxpayers cannot Continue reading
Fergus, Ont. Retiree Scores $40M Lotto Max Jackpot Victory
Exploring the world and creating a lasting legacy for her son are just a few of the dreams Elizabeth Trafford, a newly-minted millionaire, plans to fulfill after winning the $40 million OLG Lotto Max jackpot. A Life-Changing Win in Fergus, Ontario Elizabeth Trafford, a retiree from Fergus, Ontario, struck gold when she won the $40 Continue reading
Widow Wins Court Battle to Keep $100K from Late Husband’s RRSP
An Alberta widow, Marlene Enns, has triumphed in a pivotal court case against the Canada Revenue Agency (CRA), securing the right to keep the retirement savings left to her by her late husband. This ruling sheds light on a contentious clause in Canadian tax law that allows the CRA to collect unpaid tax debts from Continue reading
Canadian Dollar Outlook: USD/CAD Surge Fuels Tesla Price Hike in Canada
The Canadian dollar’s struggles amid a soaring USD/CAD exchange rate have triggered ripples across industries. One major impact surfaced recently as Tesla announced price increases for its Canadian market, with adjustments ranging from C$4,000 to C$9,000 depending on the model. This move sheds light on the broader implications of currency fluctuations, inflation, and central bank Continue reading
USD/CAD Dips as Canadian Dollar Strengthens on Robust Retail Sales
The Canadian dollar is making gains on Friday, bolstered by a strong retail sales report. During the European session, USD/CAD is trading at 1.4342, reflecting a 0.30% rise on the day. While there are no major Canadian economic events scheduled, market focus shifts to U.S. manufacturing and services PMIs due for release later today. Canada’s Continue reading
New Law and Regulation Changes in Ontario: Key Updates for February 2025
As February approaches, significant changes to laws and regulations in Ontario, as well as federal updates, are set to impact businesses and individuals across Canada. From tax deadlines to business registry updates, these changes could affect your daily life and financial plans. Here’s a detailed breakdown of what’s coming next month. 1. End of the Continue reading
$2,902.34 Monthly Income OAS Benefits for Senior Couples in Canada
As Canadian seniors navigate retirement, understanding the financial support available through the Old Age Security (OAS) program becomes essential. If you and your spouse rely solely on OAS benefits, here’s what you can expect in terms of monthly income, along with the latest updates on payment amounts. Breakdown of Benefits If both you and your Continue reading
Canadian Colleges for a Resilient Recovery and Wawanesa Partner to Renew Youth Innovation Grant
Canadian Colleges for a Resilient Recovery (C2R2), in collaboration with Wawanesa Insurance, has announced the renewal of the Wawanesa Climate Champions: Youth Innovation Grants for a second consecutive year. This initiative supports young innovators aged 18 to 30 in developing climate solutions that contribute to Canada’s sustainable future. A Successful First Year of Youth-Led Innovation Continue reading
VIU Partners in Nationwide Agri-Food Innovation Initiative
Vancouver Island University (VIU) is proud to be a key partner in the Sustainable Food Systems for Canada Innovation Platform (SF4C), a transformative initiative designed to position Canada as a global leader in agri-food innovation. This ambitious project focuses on fostering collaboration, innovation, and entrepreneurship to empower the agri-food ecosystem across the country. What Is Continue reading