Ottawa posts $3.2B deficit for October + MORE Dec 23rd

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OTTAWA – The federal government says it posted a deficit of $3.2 billion in October due in large part to its new income-splitting plan for families and the doubling of the children’s fitness tax credit.
The result for the month compared with a deficit of $2.5 billion in October 2013.
The tax changes resulted in a $1.6-billion adjustment to revenue and, without that, Ottawa would have posted a deficit of $1.6 billion for October.
The Harper government announced in October it would go ahead with income-splitting plan for couples with children as well as higher child-care benefits.
The income splitting plan has been sharply criticized by the opposition who say the $2-billion-a-year program would only benefit about 15 per cent of Canadian households.
For the fiscal year to date, the government posted a deficit of $4 billion, compared with a deficit of $12.8 billion in the same period a year ago.
The post Ottawa posts $3.2B deficit for October appeared first on Macleans.ca.

Continue Reading On macleans.ca »

Rent to Own Retail: What You Need to Know
When it comes to buying big-ticket items like furniture and appliances, ‘pay no interest for six months!’ promotions from big box stores are hard to resist – and may even be good value, providing you have the money to pay things off six months later.
But don’t confuse such layaway deals with the offerings from rent-to-own stores like Easyhome and Aaron’s, which are aimed largely at pay-by-the-week low-income households.
It’s an easy sell: you take the furniture or appliance home and make small lease payments rather than footing the entire purchase price at once. Buyers know they’re paying more than the item is worth – although the size of the mark up seems to come as a surprise to many – but feel, largely because of poor credit, that they have little choice.
Also read: Is Rent-to-Own Housing Ever a Good Idea?>
Why Pay More Than It’s Worth?
That’s what happened to Quebec homemaker Paula Dnistrianskyj when she signed up for a fairly basic refrigerator from Easyhome, paying $21 a week on a three-year contract…

Continue Reading On ratesupermarket.ca »

OTTAWA – The federal government says it posted a deficit of $3.2 billion in October due in large part to its new income-splitting plan for families and the doubling of the children’s fitness tax credit.
The result for the month compared with a deficit of $2.5 billion in October 2013.
The tax changes resulted in a $1.6-billion adjustment to revenue and, without that, Ottawa would have posted a deficit of $1.6 billion for October.
The Harper government announced in October it would go ahead with income-splitting plan for couples with children as well as higher child-care benefits.
The income splitting plan has been sharply criticized by the opposition who say the $2-billion-a-year program would only benefit about 15 per cent of Canadian households.
For the fiscal year to date, the government posted a deficit of $4 billion, compared with a deficit of $12.8 billion in the same period a year ago.
The post Ottawa posts $3.2B deficit for October appeared first on Macleans.ca.

Continue Reading On macleans.ca »

Carlyle Group and Warburg Pincus’s acquisition of Canadian credit rating agency said to be worth about $500-million

Continue Reading On theglobeandmail.com »

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