Learn more about Canada’s top banks rates, rules and the latest news – read on!
Canadians who shop online now have the option to open an Amazon Rewards MasterCard. The new card is the product of a partnership between Amazon, MasterCard and TD Bank. Mike Strauch, Country Manager for Amazon, announced in a public statement, “We are really excited to launch a new credit .... More »
It is a long-held belief that Amex® cards are just for the wealthy – but their current selection of cards should help to dispel that myth. From no-fee cards with low balance transfer offers, to top tier cards with VIP benefits and comprehensive travel insurance, there really is something for eve.... More »
Canadians are reaping the benefits of their rewards cards in large numbers, according to a recent survey by RateSupermarket.ca. Currently, there are over 74 million active credit card accounts in Canada, with the average Canadian owning two credit cards and 8 in 10 holding a rewards credit card.... More »
We usually sign up for credit cards because of special features and benefits – from cash-back earning rates to travel perks to balance transfer offers. And one feature that may make or break your decision between one credit card or another is the welcome promotion – a special bonus that adds .... More »
Starting now, Canadian mortgage seekers will find it easier to qualify for more money. That’s because the Bank of Canada has dropped its five year benchmark qualifying rate from 5.34 percent to 5.19 percent. This is the rate banks use to qualify would-be-homebuyers for a mortgage. This is the fir.... More »
If filing your taxes before the deadline went over your head this year, procrastinating can only make things worse.
Unlike sales tax, which is a pay-at-the-pump proposition, Canada’s income tax system is based on self-assessment. Make your money, plan your affairs as best you can and then, pay up.
Not everybody does though. So if the April 30 deadline sneaked up and passed you, here are a few things to keep in mind.
Better to file late than never
Did you just realize that you forgot to file last year?
Some people may neglect to file one year and then freeze when it comes to the next year’s tax return because of the old unfiled return.
This type of procrastination hurts since the Canada Revenue Agency will monitor your financial behaviour over time, using identifiers like your SIN and your date of birth to access data from your bank accounts or credit card transactions.
At this point, it’s best to contact the CRA to find out any penalties you may have incurred, as well as the best way to file and pay off your outstanding balance immediately…