All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
RWRDS Daily Update – January 12, 2024 + MORE Jan 13th
We review the BMO eclipse rise Visa Card and receive Sonesta Hotels Travel Pass Silver Elite Status with just one stay. Check out today's points & miles updates here:
The post RWRDS Daily Update – January 12, 2024 appeared first on Rewards Canada..... More »
American Express + Air Canada team up to offer bonus points and 15% off flights + MORE May 4th
Just like the CIBC offer that came out last week there is now an offer for American Express Reserve Aeroplan cardmembers to earn bonus points for purchasing Air Canada flights. On top of this there is also a 15% off promo code being sent out to most if not all American Express cardmembers. The 10x [.... More »
A look at the new RBC ION and ION+ Visa cards + MORE Sep 21st
RBC Royal Bank launched two new credit cards this past week, the RBC ION Visa and RBC ION+ Visa cards. These two cards will replace the Rewards+ and Signature Visa cards and feature changes to earn rates, redemption rates and benefits. The naming of these cards falls inline with RBC's move.... More »
RWRDS Daily Update – October 28 + MORE Oct 28th
Here’s your Rewards Canada update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Vote now for your favourites! Today is the last day to vote in Canada’s Choice 2022! This is where you cast your ballot for your favourite credit cards and lo.... More »
RWRDS Daily Update – April 27, 2023 Apr 28th
New Amex Offers for grocery purchases & Indie Ale House plus receive up to 100 free points for joining Millennium Hotels My Millennium. Check out today's points and miles updates here:
The post RWRDS Daily Update – April 27, 2023 appeared first on Rewards Canada..... More »
Principal residence exemption: Would a senior get a tax credit for selling their house if they move out?
– moneysense.ca
Does the fact that a senior citizen moves out of her home and rents a unit in a nearby senior’s building impact her principal residence exemption when she sells the home, given that she no longer is “residing” in it?
— David
The principal residence exemption allows a homeowner to sell their home and receive the proceeds tax-free. A home can include a house, an apartment, a cottage, a mobile home, a trailer or even a houseboat.
Principal residence exemption, according to the CRA
There are a few important criteria from the Canada Revenue Agency (CRA) to claim the principal residence exemption, David. One is that the taxpayer must ordinarily inhabit the home for each year that the exemption is claimed. That does not necessarily mean that they need to live in the home at the time of the sale. This is a common misconception. I have even come across people who mistakenly think that moving into a rental property and living there for a year before they sell it makes the proceeds tax-free…
January 5 Update: Correction to the card that has the best earn rate at gas stations and shop online today with Shoppers to earn 50,000 bonus PC Optimum points
– RewardsCanada.ca
Here’s your Rewards Canada Daily update! Your daily dose (or near daily dose) of loyalty program, credit card and travel news, bonuses, deals and more. Have to correct something that I have been wrong about for the past year and a couple of months. Late in 2020 when BMO revealed their new BMO Eclipse Visa Infinite and Infinite Privilege cards I stated that these card’s 5x points earn rate on gas and transit purchases (which equate to a 3.33% return for travel redemptions) are the best in Canada. That holds true for transit but not gas and that’s where I was wrong. As I seem to mention often, there is one card in Canada that tends to be forgotten and that card is the Scotiabank Platinum American Express Card. The Scotiabank Platinum Amex is in fact the card that is best in Canada for gas station purchases. It earns 4 points per dollar which equates to a 4% return when redeeming for any travel via any provider. I apologize for missing that so long ago and not catching it sooner…
Biggest ever bonus offers revealed for the BMO Rewards World Elite Mastercard, BMO eclipse Visa Infinite & BMO eclipse Visa Infinite Privilege cards
– RewardsCanada.ca
The current era of card issuers topping their best ever welcome bonus offers with even better offers continues today with BMO revealing new best ever promotions for their BMO World Elite™* Mastercard®*, BMO eclipse Visa Infinite* Card and the BMO eclipse Visa Infinite Privilege* Card. The two premium cards see welcome offers of up to 60,000 bonus points and the first year annual fee waived while the ultra premium Infinite Privilege card sees an offer of up to 90,000 points. The offers for the World Elite Mastercard and Visa Infinite Card definitely stand out as the most attractive offers here. Both will reward you with 30,000 points when you spend $3,000 in the first 3 months and 2,500 points for each subsequent month for 12 months (months 4 to 15) when you spend at least $2,000 in purchases on your card per month. This means you need to spend $27,000 over the course of 15 months to receive the full bonus. Good news is both of these cards have first year free waivers for the primary and first additional card but you will be paying those in month 13 as you make your way to trying to score the entire bonus…
