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Latest News
Do I really need life insurance? + MORE Jul 31st
Life insurance shouldn’t be one of those things you put off thinking about—because you (and the people who depend on you) could need it at any time. But many do wonder if it’s worth the monthly premiums. How do you know if it’s necessary? Why do we need life insurance anyway?
“In gener.... More »
Export Development Canada to pay $969M dividend to federal government + MORE Apr 5th
OTTAWA _ Export Development Canada is paying a $969-million dividend to the federal government this year.
The payment compares with a dividend of $786 million the agency paid last year and $500 million paid in 2016.
EDC generates revenue primarily from interest on loans, fees on its guarantee produc.... More »
How to deal with the rising costs of auto insurance due to car theft Apr 17th
Looking for a break on car insurance premiums is often top of mind for drivers. And finding ways to reduce that figure is especially important now, when rampant thefts have led to higher insurance costs.
How to lower the cost of auto insurance and prevent car theft
Experts say installing .... More »
When two people are on a condo title, who pays capital gains? Aug 27th
Q. I purchased a condo in Saskatchewan in 2001. I was young, and because I had a lower income than usual that year, my father co-signed for the mortgage. If I sell the condo with my dad on the title, will he be subject to the capital gains tax? And if so, can I get him off the title prior to a pote.... More »
A guide to mortgage calculators Jan 23rd
Owning a home can be a powerful wealth-building tool, but it can also be expensive when you account for the mortgage payment, property taxes, insurance, utilities and maintenance.
To get a clear picture of how a home purchase impacts your finances, you’ll need to determine what purchase price y.... More »
Ex-Rep. Oxley of Ohio dies; helped create anti-fraud legislation after corporate scandals
– canadianbusiness.com
TOLEDO, Ohio – A former Ohio congressman who helped write a landmark business regulatory law following the collapse of Enron Corp. and WorldCom Inc. has died. Mikey Oxley was 71.
Oxley’s wife, Patricia, says her husband died in his sleep early Friday in northern Virginia.
Oxley spent 25 years in Congress, where he devoted most of his time to issues involving corporate oversight and insurance protection.
The Republican who retired from the House in 2007 led an effort to investigate failed energy giant Enron and helped create new accounting requirements in the 2002 Sarbanes-Oxley Act.
The law reshaped corporate oversight after accounting scandals at Enron, WorldCom and other major corporations wiped out retirement accounts and cost investors billions.
Oxley was from Findlay. He rarely faced a close election in his rural northwest Ohio district.
The post Ex-Rep. Oxley of Ohio dies; helped create anti-fraud legislation after corporate scandals appeared first on Canadian Business – Your Source For Business News.
Oxley’s wife, Patricia, says her husband died in his sleep early Friday in northern Virginia.
Oxley spent 25 years in Congress, where he devoted most of his time to issues involving corporate oversight and insurance protection.
The Republican who retired from the House in 2007 led an effort to investigate failed energy giant Enron and helped create new accounting requirements in the 2002 Sarbanes-Oxley Act.
The law reshaped corporate oversight after accounting scandals at Enron, WorldCom and other major corporations wiped out retirement accounts and cost investors billions.
Oxley was from Findlay. He rarely faced a close election in his rural northwest Ohio district.
The post Ex-Rep. Oxley of Ohio dies; helped create anti-fraud legislation after corporate scandals appeared first on Canadian Business – Your Source For Business News.
Why writing a budget should be your 2016 resolution
– moneysense.ca
OTTAWA – If you don’t have a budget, then financial planners want you to add another thing to your list of new year’s resolutions.
Credit counsellor Pamela George says budgeting is important no matter what your income.
“I think it is even more important for a bigger salary to have a budget because you need to account for it and you need to understand that $200,000 can finish as fast as $12,000,” said George, who works for the Credit Counselling Society in Ottawa.
Start with your paycheque. You need to know how much you are bringing in each month. Then list your mandatory expenses that you can’t really change, such as rent or mortgage payments, utilities, car payments, insurance and debts.
Learn how to budget and more. Get Money Fit »
George also includes savings and putting money aside for an emergency fund if you don’t already have one in the mandatory category.
“I take savings and put it under mandatory because it is mandatory that you save,” she said.
Then comes your discretionary spending for whatever you might have left over…
Credit counsellor Pamela George says budgeting is important no matter what your income.
“I think it is even more important for a bigger salary to have a budget because you need to account for it and you need to understand that $200,000 can finish as fast as $12,000,” said George, who works for the Credit Counselling Society in Ottawa.
Start with your paycheque. You need to know how much you are bringing in each month. Then list your mandatory expenses that you can’t really change, such as rent or mortgage payments, utilities, car payments, insurance and debts.
Learn how to budget and more. Get Money Fit »
George also includes savings and putting money aside for an emergency fund if you don’t already have one in the mandatory category.
“I take savings and put it under mandatory because it is mandatory that you save,” she said.
Then comes your discretionary spending for whatever you might have left over…
Why has federal tax revenue exceeded projections?
– macleans.ca
Photograph by Blair GableThese passages are from the Update of Economic and Fiscal Projections released by the Department of Finance a few weeks ago:
[P]rojected tax revenues are being dragged down by lower expected nominal GDP, while projected expenses are being driven up by higher expected Employment Insurance claims…
These developments have reduced the projected budgetary balance by about $6.0 billion per year, on average, relative to Budget 2015, resulting in deficits of $3.0 billion in 2015–16…
These are the fiscal projections inherited by this Government.
As I noted at the time, this narrative didn’t pass my sniff test: the year-to-date budget balance through September was actually running ahead of Joe Oliver’s projection. Moreover, when you broke down the new Finance projections, the main factors driving the downward revision to the budget balance were “other revenues” and three impenetrable sentences about pension liabilities. Tax revenues in 2015-16 were projected to come in only $600 million below the estimate in last April’s budget…
