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Latest News
Liberal Leader Justin Trudeau promises sweeping changes to EI system + MORE Sep 8th
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Tontines in Canada: Moving from theory to practice as a solution to our retirement crisis Sep 29th
For years in his academic papers and some of his 17 published books, famed Canadian finance professor Moshe Milevsky described the history and theory behind a seemingly obscure retirement/longevity insurance structure known as the “tontine.”
Milevsky, who works at the Schulich School of Busi.... More »
Renovating? You better update your home insurance + MORE May 22nd
OTTAWA – Homeowners need to regularly check and update their home insurance policies or risk having insufficient coverage when disaster strikes, insurance experts say.
The need to review and update a policy is especially important for those who have done renovations because changes to the property.... More »
TFSA contribution room calculator + MORE Mar 4th
Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.
Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like exchange-tr.... More »
Ontario Government Confirms OHIP Cuts for Travellers May 3rd
After a six-day consultation the Progressive Conservative-led Government in Ontario has confirmed it will cut the out-of-country coverage previously provided under the province’s health plan. The Ontario Health Insurance Plan currently provides up to $400 per day for out-of-country inpatient.... More »
Bank of Canada Keeps Overnight Lending Rate at 3/4%
– ratesupermarket.ca
It is somewhat of an anti-climatic end to what has been the most closely-watched Bank of Canada announcement since the Great Recession. The central bank stated this morning that it will not cut its trend-setting Overnight Lending Rate further, maintaining it at 0.75 per cent. The Bank Rate will also remain at 1 per cent, and the Deposit Rate at 0.5 per cent, respectively.
What Does This Say About the Economy?
By leaving the rate untouched, the Bank of Canada is expressing confidence in the monetary measures they took on January 21: a surprise quarter of a percentage rate cut that blindsided economists and the big banks alike.
January’s rate cut was in response to the sharp decline in oil prices, which have slid by 50 per cent due to oversupply. Fearing the worst for jobs, spending power and inflation, BoC Governor Stephen Poloz stated the cut was a measure of “insurance” against oil’s fallout. Making the cost of borrowing more affordable in turn encourages Canadians to borrow and spend, supporting the economy and protecting core inflation…
North Dakota brothers who destroyed potatoes among farmers who’ve creatively defrauded feds
– canadianbusiness.com
FARGO, N.D. – A handful of farmers have found creative ways to defraud federal farm programs in recent years.
There was the North Carolina couple who faked hail damage to their crops by telling workers to throw ice cubes and scatter mothballs onto a tomato field; the South Dakota couple who fleeced the government by collecting $1 million in wool payments for sheep they didn’t own; and the Texas man who spent one year in prison for filing a claim for cotton he never planted.
The latest case involves two brothers from North Dakota accused of using various techniques to destroy their potatoes, such as adding septic tank chemicals and bringing in what one witness called a “monster” portable heater to turn their warehouse into a spud sauna.
Fraud is one of the biggest issues in the federal farm program and costs taxpayers millions of dollars per year, according to Chad Marzen, a lawyer and Florida State University professor who specializes in insurance law and regulation…
There was the North Carolina couple who faked hail damage to their crops by telling workers to throw ice cubes and scatter mothballs onto a tomato field; the South Dakota couple who fleeced the government by collecting $1 million in wool payments for sheep they didn’t own; and the Texas man who spent one year in prison for filing a claim for cotton he never planted.
The latest case involves two brothers from North Dakota accused of using various techniques to destroy their potatoes, such as adding septic tank chemicals and bringing in what one witness called a “monster” portable heater to turn their warehouse into a spud sauna.
Fraud is one of the biggest issues in the federal farm program and costs taxpayers millions of dollars per year, according to Chad Marzen, a lawyer and Florida State University professor who specializes in insurance law and regulation…
