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[By Bianca Bharti, Financial Post] The Bank of Canada delivered a steep hike of the overnight interest rate on July 13 as it wrestles to get decades-high inflation under control. Governor Tiff Macklem and his deputies raised the policy rate by a full percentage point, bringing the interest rate up from 1.5 per cent to … Read more
[By Jamie Golombek, Advisor’s Edge] Most people rely blindly on their tax slips to properly report their income. But if the information contained on the tax slip is wrong or incomplete, is the taxpayer still liable for the taxes owing and any arrears interest or penalty? That was the issue before the Tax Court in … Read more
[By Linda Leatherdale, The Toronto Sun] What a cruel joke to play on cash-strapped, pandemic-weary Canadians. Effective April Fool’s Day, our elected officials in Ottawa are giving themselves fat-cat pay raises. Calculations by the Canadian Taxpayers Federation show Prime Minister Justin Trudeau, who earns a whopping $365,200 a year, will get an extra $6,400. Backbenchers, … Read more
Changes to deposit insurance took effect on April 30th, adding foreign currency deposits and term deposits of greater than five years to CDIC’s coverage framework. “These changes demonstrate that CDIC is keeping pace with how Canadians bank and save, so they have even greater assurance that their hard-earned money is protected at any of our … Read more
[By Melissa Shin, Investment Executive] The federal government has enacted several measures aimed at mitigating the financial impacts of Covid-19. Here are the highlights.
[By Jamie Golombek, Financial Post] The federal government this past week announced a variety of tax measures to help Canadians facing hardship as a result of the COVID-19 outbreak. Here’s a quick summary of the major tax changes affecting individuals.
The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak. On March 18, 2020, the Prime Minister announced a new set of economic measures to help stabilize the economy during this challenging period. These measures, delivered as part of the Government of … Read more
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