RESP contributions and withdrawals Registered education savings plans (RESPs) are used to save for a child’s post-secondary education. Contributing to an RESP can give you access to government grants, including up to $7,200 in Canada Education Savings Grants (CESGs), typically requiring $36,000 of...
The agency said Tuesday its consumer price index for September was up 1.6% from a year ago compared with a year-over-year increase of 2% in August. It was the slowest annual pace for inflation since February 2021 when it was 1.1%. Gasoline prices in...
17. 2018: Transitioning to more protectionist policies, the United States initiated a renegotiation of the North American Free Trade Agreement (NAFTA)—brought into force in 1994. The Canadian government worried it could significantly affect exports to the country’s largest trading partner. The conflict...
High rates don’t just impact bondholders. Companies that used relatively cheap borrowing costs to expand during the past 10 years also felt the sting of rising rates. The NASDAQ Composite Index, which mostly represents technology stocks, fell more than 32% in 2022...
Canadian Natural Resources doubles down on Canada For a decade now, big acquisitions by Canadian oil-and-gas producers have mostly been met with distaste by investors. So we’ll take it as a heartening sign how well the markets received Canadian Natural Resources’ (CNQ/TSX) decision...
As inflation sharply accelerated in 2022, household purchasing power declined. Meanwhile, the Bank of Canada rapidly increased its key interest rate from its pandemic-era lows, bringing it up to 5% by mid-2023 before hitting pause. The Consumer Price Index reached an all-time high of 8.1%...
Is there a form to help with the calculations? Yes, there is a chart that can help; check it out here. However, you’ll still need to calculate any taxes, preferably using tax software to make the math automatic, to get to net federal...
Is ethereum being left behind? As this chart shows, ethereum (ETH)—the second-largest cryptocurrency in terms of market cap—has lagged bitcoin (BTC) in investment returns over the past year. The blue line is BTC and the red line is ETH. (As of 12 p.m....
Credit card interest rates hover around 20%, roughly where they have been since the early 1980s when inflation and interest rates were in double digits. Canada’s inflation has averaged about 2% between 1992 and 2022, and all interest rates have declined dramatically...
At a time when Canada, just like every other country, is looking for highly skilled workers, our tax rates make it more difficult for them to choose to work here. This is equally true for Canadian citizens and potential new immigrants. Anecdotally,...
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