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Inflation continues to fall as temperature rise As we’re moving through summer’s dog days and heat records are being broken around the world, Canadian inflation is moving in the opposite direction. Statistics Canada released that the year-over-year Consumer Price Index (CPI) increase cooled...
“Now we have the five major retailers signing on, that’s good news for the whole supply chain,” he said. MacAulay said he believes the code will bring more transparency, fairness and predictability into the food industry, though he noted it’s not meant to...
This year’s recalculation means that families could receive an additional $350 per child under 6, and $295 per child aged 6 to 17, compared to the 2023–24 period. For the 2024–25 benefit year, families most in need can receive up to $7,787 per...
Understanding the tax impact of more affordable care Here’s the problem: your child-care expense deduction will decrease if you pay less to your child-care provider. As a result, your taxes payable will likely increase, depending on your income level. A reduced child-care expense...
In your case, Terry, it sounds like the sale of your half of the family cottage to your niece has already occurred. So, the key is figuring out what tax implications will result. Can a family cottage be exempt from capital gains? It depends....
powered by Why trust us MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over...
And after Tuesday’s intense bout of flash flooding in southern Ontario, some residents may be finding out the hard way that their insurance doesn’t cover flooding—and will be rushing to add that optional coverage to their policy for the future. Get personalized quotes...
How to use credit cards to save on your stay With the right loyalty points, you can stay in Orlando for free (resort and parking charges still apply). I always look at Marriott properties first, since I have a Marriott Bonvoy American Express...
There are a number of expenses that can be claimed to reduce the capital gain on your cottage, Louise. Capital expenses are an example. The Canada Revenue Agency (CRA) defines a capital expense as an expense that: Gives a lasting benefit or advantage; improves...
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