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Finance minister ‘overstepped’ by wading into central bank’s domain: expert + MORE Jul 26th
OTTAWA – The federal finance minister raised eyebrows last week by publicly sharing his opinion on monetary policy — not necessarily because of his view on the matter, but because some believe he ventured too far onto the Bank of Canada’s turf.
In response to a reporter’s questio.... More »
The best no-fee credit cards in Canada for 2024 + MORE Jul 17th
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The best no-fee credit cards in Canada for 2024
From cash back to rewards points (and perks like no foreign transaction fees), here's a list of Canada's best no fee cards.
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Trudeau's cabinet has plenty of immediate priorities - Toronto Sun Oct 31st
Toronto SunTrudeau's cabinet has plenty of immediate prioritiesToronto SunJustin Trudeau and his new cabinet will be sworn in Wednesday and new ministers will have a full slate of work waiting as they slide into the backseats of their government limos for the first time. How quickly will the .... More »
Amid deep cuts, Quebec mulls pay hikes for provincial politicians + MORE Dec 27th
Jacques Boissinot/CP
MONTREAL — The Quebec government is considering a bill that could see members of the legislature get a substantial increase in their base salary and make them the country’s best-paid provincial politicians.
The proposal is essentially the result of recommendations in a r.... More »
Surviving the crunch + MORE Apr 20th
Julie and Noel Bond seemed well on their way to realizing the Canadian dream when they moved east of Vancouver to the small community of Mission in 2014 so they could afford a three-bedroom house for their growing family. They now have two pre-school children and are expecting a baby in March.
While.... More »
How the federal budget affects you
– moneysense.ca
The Conservative government introduced its 2015 federal budget on Tuesday evening. While the 518-page document is chock-full of text and charts on topics ranging from foreign direct investment to energy exports, it doesn’t exactly spell out in how it affects real people.
We’ve applied the budget measures that touch individual households to four fictional scenarios. Find the scenario that best mirrors your personal living situation to learn how the federal budget hits your bottom line.
Single
Julie | $55,000 annual income; no kids; renter
Meet Julie. She’s a single divorcee. She earns approximately $55,000 at her administrative job and is diligent about putting money into her Registered Retirement Savings Plan (RRSP). She hopes to retire in five to 10 years.
She’ll benefit from just announced increases to the annual Tax Free Savings Account (TFSA).
At an annual salary of $55,000, Julie pays approximately 30% in tax each year, while her contribution to her retirement savings provides her with a 20% tax refund…
British retailer Tesco reports $8.5 billion loss as it writes down value of properties
– canadianbusiness.com
LONDON – Tesco, one of the world’s largest retailers, posted a full-year net loss of 5.7 billion pounds ($8.5 billion) as it wrote down the value of properties to reflect deteriorating market conditions.
U.K.-based Tesco said Wednesday it took 7 billion pounds of one-time charges in the 12 months through February, including 4.7 billion pounds for the reduced value of stores and other fixed assets. The loss compares with net income of 974 million pounds in the previous year.
CEO Dave Lewis says the results “reflect a deterioration in the market and, more significantly, an erosion of our competitiveness.”
Tesco has “sought to draw a line under the past and begun to rebuild.”
Analyst Paul Thomas of Retail Remedy says “Lewis can only hope that Tesco’s night is darkest just before dawn.”
The post British retailer Tesco reports $8.5 billion loss as it writes down value of properties appeared first on Canadian Business – Your Source For Business News.
U.K.-based Tesco said Wednesday it took 7 billion pounds of one-time charges in the 12 months through February, including 4.7 billion pounds for the reduced value of stores and other fixed assets. The loss compares with net income of 974 million pounds in the previous year.
CEO Dave Lewis says the results “reflect a deterioration in the market and, more significantly, an erosion of our competitiveness.”
Tesco has “sought to draw a line under the past and begun to rebuild.”
Analyst Paul Thomas of Retail Remedy says “Lewis can only hope that Tesco’s night is darkest just before dawn.”
The post British retailer Tesco reports $8.5 billion loss as it writes down value of properties appeared first on Canadian Business – Your Source For Business News.
90 days – 1.80%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2015-03-28. Click on the link above to get more details or apply online.
Budget 2015 highlights from a real estate perspective
– moneysense.ca
Budget 2015 from a real estate perspective (Getty Images)The 2015 Federal budget wasn’t very enticing, but it did offer a couple of tax and saving incentives for those considering estate planning using real estate or looking to stay in their home a bit longer. Here’s a few Budget 2015 highlights from a real estate perspective:
–> Anyone 65 or older will benefit from the new Home Accessibility Tax Credit (HATC), explains Don Carson, spokesperson for Canada’s Chartered Professional Accountants. Under this new tax credit, you can retrofit your home, up to a cost of $10,000, and get a 15% tax rebate. “If a walk-in tub costs $5,000, this 15% tax credit will mean the net cost for that modification is $4,250,” says Carson. The credit is also open to caregivers of anyone over 65 and those who already qualify for the disability tax credit. Better still, this tax credit can be claimed in addition to the medical expense credits for the same renovation costs.
–> For those considering donating to their favourite charity you may want to consider signing over the cottage…
Bank of England voted unanimously to keep interest rates at record lows, minutes show
– canadianbusiness.com
LONDON – Bank of England minutes show that policymakers were unanimous in their decision to keep interest rates at a record low 0.5 per cent this month as inflation pressures remained muted.
Minutes released Wednesday from the April 8-9 meeting of the bank’s Monetary Policy Committee show that members are still concerned about “headwinds” facing the economy and lingering weaknesses from the 2008 financial crisis.
But the committee says expectations for inflation have begun to pick up and two members of the committee believed the April decision was “finely balanced.”
Howard Archer, chief European and U.K. economist at IHS Economics, says the minutes “reinforce our belief that the next move in interest rates will be up,” even though the inflation rate stayed at 0.0 per cent in March
The post Bank of England voted unanimously to keep interest rates at record lows, minutes show appeared first on Canadian Business – Your Source For Business News.
Minutes released Wednesday from the April 8-9 meeting of the bank’s Monetary Policy Committee show that members are still concerned about “headwinds” facing the economy and lingering weaknesses from the 2008 financial crisis.
But the committee says expectations for inflation have begun to pick up and two members of the committee believed the April decision was “finely balanced.”
Howard Archer, chief European and U.K. economist at IHS Economics, says the minutes “reinforce our belief that the next move in interest rates will be up,” even though the inflation rate stayed at 0.0 per cent in March
The post Bank of England voted unanimously to keep interest rates at record lows, minutes show appeared first on Canadian Business – Your Source For Business News.
