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CitiBank Cuts Travel Insurance On Credit Cards Jul 6th
Canadians with Citibank cards may enjoy the benefits that come with it, including travel and insurance perks. But as of September 22, 2019, Citibank has announced it is slashing those benefits – particularly the ones associated with travel.
The benefits that will no longer be honored are worldwid.... More »
RRIF and LIF withdrawal rates: Everything you need to know Jun 25th
At some point, a registered retirement savings plan (RRSP) is typically converted to a registered retirement income fund (RRIF). The latest you can defer the conversion of your RRSP to a RRIF is the end of the year you turn 71. This means that by December 31 of your 71st year, you need to either wit.... More »
6 times when a GIC is a smart investment choice + MORE Mar 13th
A guaranteed investment certificate (GIC) may seem like your grandfather’s kind of savings product. After all, his generation was fond of similar investment tools, like government savings bonds and treasury bills, and benefited from periods where interest rates were high enough to make these low-r.... More »
What’s your RRSP contribution limit? Feb 19th
If you’re like many Canadians, you’re hoping you’ve paid enough tax for 2016 and may even be looking forward to a hefty tax refund cheque. You can help ensure that happens by knowing the details of your Registered Retirement Savings Plan (RRSP), what sets them apart, your contribution limit a.... More »
Compare car insurance quotes from Canadian providers May 11th
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American consumers would be hurt by lumber duties, say U.S. housing groups
– canadianbusiness.com
MONTREAL – The imposition of import tariffs on Canadian softwood lumber will place a heavy burden on consumers and U.S. workers, a leading American voice for free trade with Canada says.
The U.S. National Association of Home Builders says duties or volume caps on imported lumber will raise the price of lumber, adding more than $1,300 to the cost of a new single family home.
It also forecasts higher lumber prices will result in a net loss of almost 8,000 jobs if 25 per cent of duties are imposed on Canadian lumber flowing into the U.S. About US$450 million in wages would be lost along with US$320 million in government taxes.
The impact would mainly be felt by the construction industry, but also hit other sectors including mattress firms that use Canadian lumber in bed frames, transportation, finance, insurance and real estate.
Increased lumber prices along with higher interest rates would make new homes less affordable for average consumers. The association, which this year formed the American Alliance of Lumber Consumers, claims that about 153,000 households would no longer qualify for average mortgages with every US$1,000 increase the home prices…
The U.S. National Association of Home Builders says duties or volume caps on imported lumber will raise the price of lumber, adding more than $1,300 to the cost of a new single family home.
It also forecasts higher lumber prices will result in a net loss of almost 8,000 jobs if 25 per cent of duties are imposed on Canadian lumber flowing into the U.S. About US$450 million in wages would be lost along with US$320 million in government taxes.
The impact would mainly be felt by the construction industry, but also hit other sectors including mattress firms that use Canadian lumber in bed frames, transportation, finance, insurance and real estate.
Increased lumber prices along with higher interest rates would make new homes less affordable for average consumers. The association, which this year formed the American Alliance of Lumber Consumers, claims that about 153,000 households would no longer qualify for average mortgages with every US$1,000 increase the home prices…
