Prime Minister Justin Trudeau’s recent announcement of a temporary GST/HST holiday tax break has stirred significant public reaction. Social media users and experts have raised concerns, prompting clarification on the nature of grocery taxation in Canada and the potential consequences of the proposed measure. The Holiday Tax Break: What’s Included? Starting December 14, 2024, Canadians Continue reading
GST Holiday: CFIB Warns GST Holiday Could Create “Chaos” for Small Businesses
As Canada’s temporary GST holiday nears, retailers are facing a rush of complications and confusion. Set to begin this Saturday, the new measure will remove the Goods and Services Tax (GST) or Harmonized Sales Tax (HST) from dozens of items, including groceries, alcoholic beverages, and children’s clothing. While the initiative promises a savings of approximately Continue reading
GST Free Holiday Starts on this Weekend: What Need to Know About Upcoming Tax Break and Its Impact
The GST-free holiday, set to begin this weekend, is causing confusion among Calgary retailers and could come at a significant cost. Starting this Saturday, the temporary tax break will remove the five percent GST from a wide range of items, including food, beverages, clothing, diapers, and toys for children under 14 years old. While this Continue reading
Ontario Trillium Benefit Arriving Tomorrow: What to Expect and How the Canada Post Strike May Delay Your Mail
Relief Amid Rising Costs: What the Ontario Trillium Benefit Offers With the next round of Ontario Trillium Benefit (OTB) payments scheduled for December 10, eligible Ontarians can look forward to some financial relief. This benefit, first introduced in 2011, combines three provincial tax credits into one payment to address the rising cost of living, energy Continue reading
Nissan Data Breach Settlement: What You Need to Know and How to Claim Your Share
Settlement Overview: CAD $1.82 Million Fund for Class Members In the wake of a 2017 data breach, Nissan Canada Inc., Nissan Canada Financial Services Inc., and Nissan North America, Inc. faced class action lawsuits in Ontario and Quebec. These suits allege that an anonymous attacker demanded a ransom after claiming possession of customer data. Although Continue reading
Ontario Trillium Benefit Payment Arriving December 10 — How Canada Post Strike Could Impact your Payment
The Ontario Trillium Benefit (OTB) is a crucial financial aid program designed to assist Ontario residents with energy costs, sales tax, and property tax. As the next payment date approaches on December 10, it’s essential to understand how much you can expect, eligibility criteria, and the potential impact of the ongoing Canada Post strike. What Continue reading
What happens if you file taxes late but don’t owe CRA?
Filing taxes is a legal obligation for Canadian residents, but sometimes individuals, businesses, or trusts neglect to file their tax returns. In these cases, they are classified as non-filers. If you’re wondering what happens if you don’t file taxes in Canada, and what being a non-filer means, this detailed guide explains the process, penalties, and Continue reading
9 Smart Ways to Strengthen Your Financial Profile Before Buying Your Dream Home
Buying a home is an exciting milestone, but it requires careful financial planning to ensure a smooth journey. A strong financial profile not only increases your chances of mortgage approval but also helps you secure favorable terms. Here’s a detailed guide on how to prepare your finances before taking the plunge into homeownership. 1. Review Continue reading
3 Costly RRSP Mistakes to Avoid: Protect Your Savings and Grow Wealth
Building a million-dollar portfolio through a Registered Retirement Savings Plan (RRSP) is a dream for many Canadians. However, achieving this goal requires more than just contributions and market gains. To safeguard your savings and remain compliant with the Canada Revenue Agency (CRA), it’s vital to steer clear of common pitfalls. This article explores three major Continue reading
$1,200 for Low-Income Seniors: Fact Check, Eligibility, and Payment Dates
$1,200/month benefit for seniors, including eligibility criteria and payment dates. Learn who qualifies for this financial support, how to apply, and when to expect payments. Stay informed to ensure you or your loved ones receive the benefits you’re entitled to. There have been discussions and announcements regarding a new initiative aimed at providing financial support Continue reading