Despite a recent increase in Ontario’s minimum wage to $17.20 per hour as of October 1, 2024, the rising cost of living continues to leave workers struggling to make ends meet. A new report from the Ontario Living Wage Network reveals that the average living wage—the hourly rate needed to live comfortably and out of Continue reading
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Exciting New Permanent Residency Pathways in Canada for 2025
Canada is introducing four new permanent residency pathways in 2025 to address labor shortages and enhance opportunities for immigrants. These pathways aim to cater to economic growth while balancing community resources like housing and healthcare. Here’s a detailed look at these developments: 1. Enhanced Economic Immigration Streams Canada’s focus remains on attracting skilled professionals. While Continue reading
Gold in 2025: 4 Smart Investments to Consider and 4 Pitfalls to Avoid
Gold continues to shine as a reliable hedge against inflation, economic uncertainty, and currency fluctuations. The recent bull market, which saw gold prices climb to a record high of over $2,736 per ounce in late 2024, has drawn significant attention from both seasoned and new investors. With many analysts predicting that gold could surpass the Continue reading
Canada Immigration Fees Rising December 1: Here’s What You Need to Know About the New Costs
Canada Immigration Fees Set to Increase Starting December 1, 2024Immigration, Refugees, and Citizenship Canada (IRCC) has announced fee increases for various temporary resident applications. These adjustments, ranging from 2.80% to 4.69%, will affect individuals applying for restoration of temporary resident status, authorization to return to Canada, or temporary resident permits. Here’s a complete breakdown of Continue reading
Understanding the Average Retirement Income in Canada: Key Insights for a Secure Future
Retirement income in Canada varies significantly based on factors such as savings, investments, government benefits, and pensions. While the government provides foundational support through the Canada Pension Plan (CPP) and Old Age Security (OAS), the total income retirees receive depends on their financial planning and lifestyle choices. Here’s a detailed breakdown of the average retirement Continue reading
How to Earn a Tax-Free Paycheque Every Month with Your TFSA
A Tax-Free Savings Account (TFSA) is one of the most powerful investment tools available to Canadians. With a TFSA, you can earn money on your investments—whether from interest, dividends, or capital gains—completely tax-free. This can significantly boost your wealth over time, especially when reinvested. If you’re looking to earn consistent income from your TFSA every Continue reading
Canada Income Tax Brackets for 2024: Maximize Your Tax Savings
Navigating taxes can be tricky, but understanding Canada’s updated tax brackets for 2024 can help you plan better and potentially save more. Here’s a clear guide to the latest federal tax rates and the maximum you’ll owe based on income. Canada’s Federal Tax Brackets for 2024 In Canada, taxes are determined using a marginal tax Continue reading
Unique Tax Strategies for 2024: Essential Year End Planning Tips
As the year-end approaches, it’s time to focus on optimizing your tax strategy. The 2024 tax season brings some noteworthy changes that could impact your tax planning. With just a few weeks left until December 31, here’s a guide to help you make the most of the current tax regulations and set yourself up for Continue reading
Prediction: What To Expect from Next Express Draw, All We Know So Far
The Express Entry system remains one of Canada’s most popular immigration pathways, offering skilled workers the opportunity to gain permanent residency. The most recent draw, #319, was held on Nov 13, 2024, targeting candidates with Canadian Experience Class. As we look ahead to the next draw, expected on Dec 10, 2024, many candidates are eager Continue reading
Federal & Provincal Heat Rebates Across Canada in Winter 2024: Check If You Qualify for these Rebates
As energy costs continue to rise, Canadians are seeking ways to make their homes more energy-efficient, with many provinces offering heating rebates to help reduce heating expenses. These rebates often focus on transitioning to more sustainable, energy-efficient heating systems, like heat pumps, which can lower utility bills and contribute to a greener environment. Here’s an Continue reading