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Two Out Of Five Canadians Have Not Filed Taxes Yet + MORE Apr 26th
For most Canadians, filing their 2016 income taxes are now a thing of the past -- way to go, guys! Surprisingly, with only a few more days to go until the May 1st tax return deadline, many still haven't prioritized tax preparation this year according to a recent study commissioned by H&R Block w.... More »
What the Bank of Canada Rate Increase to 1.5% Means for Canadian Home Owners and Home Buyers Jul 19th
From personal loans to mortgages, simply put, it’s now more expensive and more difficult for Canadians to borrow money.
At the beginning of 2018, new mortgage rules raised the bar for qualification. Under federal law, all financial institutions are now required to put any new applicants under a.... More »
Outliving your savings, and why the 4 per cent rule still applies: Mayers + MORE Dec 16th
In a week where our central banker talked about negative interest rates, readers wonder about living longer than their savings...... More »
Why You and Your Partner Should Open a Spousal RRSP + MORE Feb 8th
The Canadian government offers plenty of incentives for long-term savers, including couples saving for retirement. Sure, both of you can still open your own individual Registered Retirement Savings Plans (RRSP). But if you are looking for a way to manage your tax bill as a couple, as well as build .... More »
How the Liberals’ re-election impacts RRIFs, taxes and more + MORE May 7th
The Liberals held on to power in the recent federal election, and this has tax implications for Canada’s seniors and other taxpayers—in particular, for retirees and their strategies for their registered retirement income fund (RRIF) this year and possibly in the future.
Reduced RRIF minimum w.... More »
Use Aeroplan miles to pay off student loans
– moneysense.ca
Not sure what to do with all those Aeroplan miles you’ve racked up? With a Higher Ed Points account, you can convert Aeroplan miles into funds to help pay for your (or someone you love’s) post-secondary education.
Under the program, every 35,000 Aeroplan miles is equal to $250 in provincial student loans in Ontario and Alberta or tuition payments at participating universities across Canada, including University of Winnipeg and Acadia among others. Higher Ed Points hopes to partner with the Canada Student Loans program and other provincial student loan institutions in the future, says founder Suzanne Tyson.
Family and friends can help out by donating their miles as well. If you’re a frequent flyer, you may have collected enough points already. If you live in Toronto for example and have flown economy to Honolulu, Hawaii, Sydney, Australia, and Athens, Greece, you should have collected almost 39,000 miles to put towards that diploma.
5 things your loyalty program isn’t telling you »
Under the program, every 35,000 Aeroplan miles is equal to $250 in provincial student loans in Ontario and Alberta or tuition payments at participating universities across Canada, including University of Winnipeg and Acadia among others. Higher Ed Points hopes to partner with the Canada Student Loans program and other provincial student loan institutions in the future, says founder Suzanne Tyson.
Family and friends can help out by donating their miles as well. If you’re a frequent flyer, you may have collected enough points already. If you live in Toronto for example and have flown economy to Honolulu, Hawaii, Sydney, Australia, and Athens, Greece, you should have collected almost 39,000 miles to put towards that diploma.
5 things your loyalty program isn’t telling you »
Air Miles expands points donation program »
The post Use Aeroplan miles to pay off student loans appeared first on MoneySense.
Trudeau, Harper clash over pensions, income-splitting
– moneysense.ca
Conservative leader Stephen Harper and Liberal leader Justin Trudeau butted heads during Thursday’s national leaders’ debate when Maclean’s moderator Paul Wells raised questions about the country’s economy. The discussion veered toward pensions and income-splitting and what the government is doing to help Canadians save for retirement.
Trudeau jumped on Harper’s refusal to co-operate with the provinces on enhanced government pension plans.
“You’ve categorically refused to actually engage in the kind of pension security that Ontario and other provinces are asking for,” said Trudeau. He also pointed the finger at Harper for changing the retirement age from 65 to 67.
The Harper government recently announced that it would not help the provincial government with the implementation of the Ontario Retirement Pension Plan. The plan will force Ontarians without a workplace pension plan into mandatory retirement savings. Instead, the Tories have recently promised to consider voluntary CPP top ups by taxpayers…
Trudeau jumped on Harper’s refusal to co-operate with the provinces on enhanced government pension plans.
“You’ve categorically refused to actually engage in the kind of pension security that Ontario and other provinces are asking for,” said Trudeau. He also pointed the finger at Harper for changing the retirement age from 65 to 67.
The Harper government recently announced that it would not help the provincial government with the implementation of the Ontario Retirement Pension Plan. The plan will force Ontarians without a workplace pension plan into mandatory retirement savings. Instead, the Tories have recently promised to consider voluntary CPP top ups by taxpayers…
Enrollment surge likely under Clinton debt-free tuition plan, potentially boosting its cost
– canadianbusiness.com
WASHINGTON – Hillary Rodham Clinton’s plan to make college more affordable and ease the burden of student debt could easily end up costing more than her proposed $350 billion.
Clinton’s plan essentially shifts more of the financial burden of college from students and their families to taxpayers. Much of the $350 billion she wants to spend over 10 years would help provide debt-free tuition at public colleges, but many students would still be on the hook for food and housing.
And for the plan to generate all the economic benefits it envisions, the reforms would need to both reduce the rising costs of higher education while increasing graduation rates.
Each challenge reflects the difficulty of transforming a higher-education system increasingly dependent on personal debt.
The amount of outstanding educational loans has nearly tripled over the past decade to $1.3 trillion, a reflection of the rising costs of college, an economy where more entry level jobs require undergraduate degrees and relatively stagnant personal incomes that have made it difficult for parents to save for their children’s education…
Clinton’s plan essentially shifts more of the financial burden of college from students and their families to taxpayers. Much of the $350 billion she wants to spend over 10 years would help provide debt-free tuition at public colleges, but many students would still be on the hook for food and housing.
And for the plan to generate all the economic benefits it envisions, the reforms would need to both reduce the rising costs of higher education while increasing graduation rates.
Each challenge reflects the difficulty of transforming a higher-education system increasingly dependent on personal debt.
The amount of outstanding educational loans has nearly tripled over the past decade to $1.3 trillion, a reflection of the rising costs of college, an economy where more entry level jobs require undergraduate degrees and relatively stagnant personal incomes that have made it difficult for parents to save for their children’s education…
