Finance

Canadians are likely feeling stressed about their finances, especially those saving for retirement. With investments potentially dropping, it might seem like dividend income alone won’t be enough to turn things around. However, now could be the perfect time to set yourself up for a comfortable retirement. With blue-chip stocks currently undervalued, you may not see Continue reading

The Canada Workers Benefit (CWB) is a refundable tax credit designed to support low-income individuals and families who are working. In 2024, eligible recipients can receive up to $1,428 as part of this benefit. The CWB aims to supplement the earnings of low-income workers, encouraging labor force participation and providing financial assistance to those in Continue reading

Are you wondering about the upcoming Ontario minimum wage increase 2024? If so, you’ve come to the right place! This article will provide you with all the essential information about the new minimum wage, including the effective date and the updated rates for various categories of workers. Ontario Minimum Wage Increase 2024 Starting October 1, Continue reading

Find out whether the Canada retirement age in 2024 is 65 or 67. Explore the factors affecting retirement age, changes in legislation, and what it means for your retirement plans. Stay informed to make the best decisions for your future. What is the Official Retirement Age in Canada? In Canada, the official retirement age for Continue reading

The Tax-Free Savings Account (TFSA) is a powerful tool for Canadians to grow their wealth and enjoy a more comfortable retirement. Unlike Registered Retirement Savings Plans (RRSPs), which offer tax deductions on contributions but taxable withdrawals, TFSAs provide tax-free growth and withdrawals. Key Benefits of a TFSA for Retirees How to Maximize Your TFSA in Continue reading

The Canada Emergency Response Benefit (CERB) provided essential financial support to millions of Canadians during the COVID-19 pandemic. However, some individuals who received CERB payments may now find themselves unable to repay the amount they owe due to financial difficulties. If you’re struggling to repay CERB, there are options available to you, including potential repayment Continue reading

The Canada Emergency Response Benefit (CERB) was a lifeline for many Canadians during the COVID-19 pandemic, providing crucial financial support to those who lost their income. However, some individuals may now be required to repay CERB amounts they were not eligible to receive. If you received CERB and need to repay it, here’s what you Continue reading

On August 30, 2024, Saskatchewan unveiled two new Permanent Residency (PR) pathways under the Provincial Nominee Program (PNP) aimed at addressing critical labor shortages in the province’s health care and agriculture sectors. These initiatives, known as the Agriculture Talent Pathway and the Health Talent Pathway, are designed to attract skilled workers to fill essential roles Continue reading

In Canada, a T4 slip, also known as the “Statement of Remuneration Paid,” is an official tax document issued by employers to their employees. It details the income earned and the taxes deducted during a particular tax year. The T4 slip is essential for filing your income tax return as it provides the Canada Revenue Continue reading

Understanding the average income in Canada is essential for assessing the economic well-being of Canadians and comparing financial standards across regions. In 2024, the average income in Canada reflects the earnings from various sectors, industries, and occupations. Here’s an overview of what the average monthly and annual incomes are in Canada for 2024. What is Continue reading