All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
Buy now, pay later: Are installment plans a budget win or finance fail? + MORE Dec 18th
As the past year or so continues to meld into one long, sweatpants-clad day, it’s no surprise Canadians have turned to online shopping for much-needed boosts of morale. If you’re clicking “add to cart” for sport, you’ve probably noticed that when you reach the checkout page, instead of fin.... More »
AIR MILES Shops Boxing Week deal - Earn 10x miles site wide for your online shopping + MORE Dec 27th
If you haven't had enough of online shopping just yet then this week is another good one to get some done and rack up some bonus miles. AIR MILES is offering 10x miles site wide on AIR MILES Shops purchases made by December 31. As long as your purchase meets the minimum requirement for .... More »
Canada’s best Mastercard credit cards 2019 + MORE Jul 17th
As one of the top credit card processors in the world, Mastercard is both extremely popular and also nearly universally accepted. For those already banking at BMO Bank of Montreal, a major Canadian bank that associates with Mastercard, these cards may offer all the perks you’re after along with op.... More »
Small businesses cheer on Walmart in battle with Visa, hoping for lower fees + MORE Jun 17th
Many small businesses are cheering on Walmart for taking on Visa in a public battle over credit card fees. Smaller merchants feel gouged by transaction fees and hope the public dispute will lead to change..... More »
Mandatory tech credit coming for Ontario high school students, Education Minister Stephen Lecce announces - Toronto Star + MORE Mar 10th
Mandatory tech credit coming for Ontario high school students, Education Minister Stephen Lecce announces Toronto StarOntario students will have to take a new course to graduate. Here's what you need to know CP24Ontario students' new course required to graduate | CTV News .... More »
Credit gardening: Sow the seeds for a great score
– creditcards.com
Fixing bad credit will take time. But following a ‘credit gardening’ plan can make the journey simpler
Tax implications for selling a U.S. property
– moneysense.ca
I’m considering selling my property in the U.S. I know I’ll need to pay capital gains on the appreciated value but do I claim the gains in U.S. or Canadian currency?
—Paul and Barb, Fort McMurray, Alta.
Timing is everything, in both comedy and taxes. According to Philippe Brideau, spokesperson for the CRA, both the cost of the property to buy and the proceeds of the sale must be converted into Canadian dollars using the exchange rate at the time of each transaction. You then report the capital gain, or loss, on your tax return based on “the difference between those two Canadian dollar amounts.” But the CRA isn’t the only tax collector to consider. The U.S. also cares about that property sale, explains Kim Moody of Calgary-based Moodys Gartner Tax Law. “A Canadian needs to first report a gain or loss in the U.S. by filing a U.S. tax return—form 1040NR—and paying any applicable U.S. taxes.” Expect to pay a withholding tax to the Internal Revenue Service, which you claim as a foreign tax credit on your Canadian tax return…
—Paul and Barb, Fort McMurray, Alta.
Timing is everything, in both comedy and taxes. According to Philippe Brideau, spokesperson for the CRA, both the cost of the property to buy and the proceeds of the sale must be converted into Canadian dollars using the exchange rate at the time of each transaction. You then report the capital gain, or loss, on your tax return based on “the difference between those two Canadian dollar amounts.” But the CRA isn’t the only tax collector to consider. The U.S. also cares about that property sale, explains Kim Moody of Calgary-based Moodys Gartner Tax Law. “A Canadian needs to first report a gain or loss in the U.S. by filing a U.S. tax return—form 1040NR—and paying any applicable U.S. taxes.” Expect to pay a withholding tax to the Internal Revenue Service, which you claim as a foreign tax credit on your Canadian tax return…
Dream Office REIT shifts gears amid 'messed-up time' for office sector
– theglobeandmail.com
The real estate investment trust announced plans to slash its distribution by one-third, top up its credit facility to $800-million and unload at least $1.2-billion worth of properties over the next three years
Samsung mobile-pay service will expand, starting with China
– canadianbusiness.com
NEW YORK, N.Y. – Samsung’s mobile-payment service will expand beyond the U.S. and South Korea this year.
The South Korean company said Friday that Samsung Pay is coming to China in March — a month after rival Apple Pay. It will hit Australia, Brazil, Singapore, Spain and the U.K. later in the year. Samsung also plans to expand to Canada, though no timeframe was given.
Samsung Pay works with certain Samsung phones. As with Apple Pay on iPhones and Google’s Android Pay on a broader range of Android phones, users add their credit or debit cards and make payments at stores by tapping on a machine with a wireless technology called NFC.
Many merchants don’t have NFC, though. Samsung Pay can work at additional stores by mimicking the magnetic swipes produced by plastic cards.
The post Samsung mobile-pay service will expand, starting with China appeared first on Canadian Business – Your Source For Business News.
The South Korean company said Friday that Samsung Pay is coming to China in March — a month after rival Apple Pay. It will hit Australia, Brazil, Singapore, Spain and the U.K. later in the year. Samsung also plans to expand to Canada, though no timeframe was given.
Samsung Pay works with certain Samsung phones. As with Apple Pay on iPhones and Google’s Android Pay on a broader range of Android phones, users add their credit or debit cards and make payments at stores by tapping on a machine with a wireless technology called NFC.
Many merchants don’t have NFC, though. Samsung Pay can work at additional stores by mimicking the magnetic swipes produced by plastic cards.
The post Samsung mobile-pay service will expand, starting with China appeared first on Canadian Business – Your Source For Business News.
