How to go about securing the best rate and plan for your credit card in Canada.
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Financial hardship withdrawal exceptions and increasing income in retirement + MORE Apr 2nd
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I am in B.C., Canada. I moved my LIRA into a LIF two years ago. I have taken the maximum annual withdrawals for each year. I thought it’d be smart to start taking it. How can I get more out of it? I need the funds to help deal with bill payments. All my monthly i.... More »
AIR MILES Shops Boxing Day offer: 20x miles sitewide Dec 28th
A day late with this one but you can still take advantage of today! AIR MILES is offering 20x miles sitewide via AIR MILES Shops on any and all purchases that earn at least 1 base mile. This offer is available until 11:59pm EST December 27, 2023. There are also some individual merchants like Dys.... More »
We’re 10 years apart. Can we retire together? + MORE Feb 25th
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My wife and I plan to retire at the end of 2027. I am 63 and my wife is 53. All our investments are split 50/50 between RRSPs and LIRAs for a total of about $1,450,000. We anticipate needing about $110,000 a year after tax in retirement. We have a line of credit, and we are paying it .... More »
New increased welcome bonus of up to 40,000 Asia Miles on the Cathay World Elite® Mastercard® – powered by Neo Feb 2nd
Neo and Cathay have revealed a new increased welcome bonus offer on the Cathay World Elite Mastercard – powered by Neo. When you apply for and are approved for the card you can receive up to 40,000 bonus Asia Miles. This is highest public bonus seen on the card since it was introduced in late .... More »
Earn up to 2,500 bonus miles when you book travel via the new AIR MILES Travel Oct 13th
The new and improved AIR MILES Travel platform that we let you know about yesterday is being celebrated with a great bonus offer! Travel bookings that are paid for with a credit card that are made between today and October 25, 2023 will earn up to 2,500 bonus AIR MILES. To receive the bonus AIR [.... More »
What Is the Climate Action Incentive Payment?
– canadianfinanceblog.com
Most Canadians are familiar with longstanding tax credits, such as the GST/HST credit and the Canada Child Benefit (CCB). But there’s another family credit you may be eligible for, and it’s paid in quarterly installments. It’s called the Climate Action Incentive (CAIP), and it’s been expanded to three additional provinces for 2023-24.
In this article, I’ll share everything you need to know about this important benefit, including who is eligible, how much you can receive, and why the benefit exists in the first place.
What Is the Climate Action Incentive Payment?
The Climate Action Incentive Payment is a tax-free quarterly payment made to residents of several Canadian provinces to offset the cost of the federal carbon tax.
Before 2021, the CAI was a refundable tax credit you claimed on your income tax return. However, as of July 2022, the credit became a quarterly payment. You don’t have to apply for the CAIP; if you qualify, the Canada Revenue Agency will automatically enroll you based on your annual income tax return information…
In this article, I’ll share everything you need to know about this important benefit, including who is eligible, how much you can receive, and why the benefit exists in the first place.
What Is the Climate Action Incentive Payment?
The Climate Action Incentive Payment is a tax-free quarterly payment made to residents of several Canadian provinces to offset the cost of the federal carbon tax.
Before 2021, the CAI was a refundable tax credit you claimed on your income tax return. However, as of July 2022, the credit became a quarterly payment. You don’t have to apply for the CAIP; if you qualify, the Canada Revenue Agency will automatically enroll you based on your annual income tax return information…
