While the situation presents a challenge to sellers, it’s an opportunity for those looking to buy their first vacation home. Cottage inventory is high, prices are dropping and mortgage rates have slowly but steadily come back down. We spoke to realtors Megan McLeod and Rebecca...
New routes and destinations—but does that equal profit? Air Transat will extend routes to the port cities of Bordeaux, France, and Valencia, Spain, into the winter, the CEO said, while steering clear of the U.S. except for a handful of routes. The number of Air Transat flights...
To help parents make ends meet, the federal government offers the Canada Child Benefit (CCB). If you have children under 18 and file a tax return, you are automatically enrolled. Tax-free monthly payments are administered by the Canada Revenue Agency (CRA). Provincial governments provide additional financial...
“The easiest thing to do would be: ‘I need additional compensation outside of the benefit package to buy my own private health care,’” he said. “So maybe, you negotiate and say, ‘My expenses are too high, my dental expenses are really high. This plan isn’t...
The central bank opted to keep its overnight lending rate—which is used by lenders to set their prime rate and, by extension, variable mortgage rates—at 2.75%. This is the BoC’s second consecutive rate hold, following a rate pause on Apr. 16. Prior to that, the BoC...
We arrived in Canada with optimism, and we thought we were prepared: we had savings, work experience and a support system. But one visit to a car dealership during our first week in the country showed us how little we really knew. In just a...
José Boisjoli’s CV at BRP Under Boisjoli’s tenure, the stand-alone organization, which has known no other CEO, tripled its revenue and market share so that one in every three powersports products sold across the globe bears the BRP logo, according to the Valcourt, Que.-based company. Boisjoli—an engineer...
Some Canadian provinces have a default deductible amount everyone starts at—for instance, it’s $500 in Ontario and $750 in Manitoba—but you can choose to pay less or more, depending on your situation. The amount of deductible you choose impacts the cost of your premiums. Generally, the...
The central bank will be watching the tariff dispute’s impact on inflation as it gauges future policy decisions. When is the next BoC announcement? The Bank of Canada’s next interest rate decision is set for July 30, alongside a new monetary policy report. CIBC chief economist Avery...
Since home equity makes up such a significant allocation of Canadian wealth, it is only natural to wonder how best to use this equity in retirement. Let’s look at three options for retirees: using a home equity line of credit (HELOC), taking out a reverse...