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Latest News
July 15 Update: You can no longer earn AIR MILES on lottery purchases at Shell, 20,000 bonus Be Well points for beauty products at Rexall and more! Jul 16th
Long time Rewards Canada reader Harry B. pointed out to us that the new Shell Go+ AIR MILES initiative that we detailed on Monday had one negative change which of course isn't pointed out in the marketing of the partnership. It appears that you can no longer earn AIR MILES on lottery purchases at .... More »
The Definitive Guide to Mastercard Airport Experiences Provided by LoungeKey Feb 25th
For frequent flyers, private airport lounges offer an oasis of sorts, the chance for some peace and quiet in the midst of a crowded airport. Over the years, these lounges have grown in popularity, with literally thousands now spread across airports around the globe.
What Is LoungeKey?
LoungeKey is a.... More »
A Rare Fast Radio Burst has been Found that Actually Repeats Every 16 Days - Universe Today + MORE Feb 12th
A Rare Fast Radio Burst has been Found that Actually Repeats Every 16 Days Universe TodayNewest FRB Could Be A Rosetta Stone SETI InstituteUnknown source in space is emitting repeating radio signal - Insider INSIDERMysterious radio signal from space is repeating ever.... More »
Air Canada Elites will receive double Priority Rewards for the remainder of the year & a new targeted American Express Use Points for Purchases offer + MORE Sep 16th
Here's your Rewards Canada update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Air Canada sent an email out yesterday to elite members offering double Priority Rewards for the second half of 2022:Finally, recognizing that most have already requ.... More »
Payments for the Canada Workers Benefit arriving sooner—find out why + MORE Jul 28th
If you receive the Canada Workers Benefit (CWB), you’ll notice a change to this federal tax credit as of this week, namely that you’ll get the money sooner. In the past, CWB recipients claimed the benefit for a certain year when filing their income tax return—for example, claiming the CWB for .... More »
The Pyongyang Olympics
– online.wsj.com
The Western media discover the hidden charms of North Korea.Credit card comeback from recession nearly complete
– creditcards.com
New card accounts have risen to the level just below 2007, says American Bankers Association data
How to get the pension income tax credit
– moneysense.ca
Q: I am 65 years old and will have income for the next three years. I want to open a Registered Retirement Income Fund (RRIF) and transfer some money into it to take advantage of the pension credit on a $2,000 withdrawal. While doing so, can I then turn around and use that $2,000 as part of my contribution to my RRSP? In other words, can you withdraw from an RRIF and contribute to your RRSP in the same year?
—Rhonda P.
A: Thank you, Rhonda, for your question. I assume that you do not have a pension—and you didn’t mention the value of your RRSPs. For many, it’s a great strategy to open an RRIF and transfer net $2,000 from your RRSP in order to take advantage of the pension credit. Be sure to transfer a little bit extra to the RRIF so the $2,000 withdrawal does not deplete the RRIF and cause it to close. Your financial institution will advise you on what the minimum amount is to keep the RRIF open. Or you can transfer as a lump sum.
And yes—you can technically withdraw from an RRIF and then contribute to an RRSP—if you have the room and are still under 71 years of age…
