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Family net worth in 2016 up 14.7% from 2012: StatsCan
– moneysense.ca
OTTAWA — Statistics Canada says the median net worth of Canadian families totalled $295,100 in 2016, up 14.7 per cent from 2012 the last time the survey was conducted.
Housing was both the largest asset and the largest debt for Canadians.
The total value of assets held by Canadians in 2016 was $12 trillion, up from $9.9 trillion in 2012. The median value of total assets owned by families amounted to $440,200, up from $391,700 in 2012.
READ: Net Worth Calculator (From 2014)
Meanwhile, total debt reached $1.76 trillion in 2016, up from $1.41 trillion in 2012. The median value of total debt owed by families was $80,600 in 2016, up from $63,400 in 2012.
The report also found that 29.6 per cent of Canadian families were debt-free in 2016.
Statistics Canada says the share was highest among senior-led families with 58.0 per cent debt-free.
The post Family net worth in 2016 up 14.7% from 2012: StatsCan appeared first on MoneySense.
Housing was both the largest asset and the largest debt for Canadians.
The total value of assets held by Canadians in 2016 was $12 trillion, up from $9.9 trillion in 2012. The median value of total assets owned by families amounted to $440,200, up from $391,700 in 2012.
READ: Net Worth Calculator (From 2014)
Meanwhile, total debt reached $1.76 trillion in 2016, up from $1.41 trillion in 2012. The median value of total debt owed by families was $80,600 in 2016, up from $63,400 in 2012.
The report also found that 29.6 per cent of Canadian families were debt-free in 2016.
Statistics Canada says the share was highest among senior-led families with 58.0 per cent debt-free.
The post Family net worth in 2016 up 14.7% from 2012: StatsCan appeared first on MoneySense.
Broad based rally helps boost stocks in Toronto, loonie moves lower
– canadianbusiness.com
TORONTO _ A broad-based rally helped Canada’s main stock index rise sharply today as U.S. stock markets also gained ground amid some recovery in oil prices.
The S&P/TSX composite index advanced 106.90 points to 16,015.68, with all major sectors positive on the day.
In New York, the Dow Jones industrial average was up 70.57 points to 24,211.48. The S&P 500 index added 7.71 points to 2,636.98 and the Nasdaq composite index gained 36.46 points to 6,812.84.
The Canadian dollar closed at an average trading value of 77.86 cents US, down 0.53 of a U.S. cent.
In commodities, the January crude contract climbed 73 cents to US$56.69 per barrel and the January natural gas contract was down 16 cents to US$2.76 per mmBTU.
The February gold contract fell US$13.00 to US$1,253.10 an ounce and the March copper contract was unchanged at US$2.96 a pound.
The post Broad based rally helps boost stocks in Toronto, loonie moves lower appeared first on Canadian Business – Your Source For Business News.
The S&P/TSX composite index advanced 106.90 points to 16,015.68, with all major sectors positive on the day.
In New York, the Dow Jones industrial average was up 70.57 points to 24,211.48. The S&P 500 index added 7.71 points to 2,636.98 and the Nasdaq composite index gained 36.46 points to 6,812.84.
The Canadian dollar closed at an average trading value of 77.86 cents US, down 0.53 of a U.S. cent.
In commodities, the January crude contract climbed 73 cents to US$56.69 per barrel and the January natural gas contract was down 16 cents to US$2.76 per mmBTU.
The February gold contract fell US$13.00 to US$1,253.10 an ounce and the March copper contract was unchanged at US$2.96 a pound.
The post Broad based rally helps boost stocks in Toronto, loonie moves lower appeared first on Canadian Business – Your Source For Business News.
BlackBerry, Qualcomm to expand collaboration in connected car technology
– canadianbusiness.com
WATERLOO, Ont. _ BlackBerry Ltd. (TSX:BB) has formed a strategic collaboration to develop technology for the next generation of connected vehicles with a subsidiary of Qualcomm Inc., a major semiconductor company.
The Waterloo, Ont.-based company says it has agreed to help optimize select Qualcomm hardware platforms to work with BlackBerry’s QNX software, which is used to manage features of wirelessly connected cars such as infotainment systems.
They have also agreed to optimize other BlackBerry software for use with select Qualcomm Snapdragon modems.
Qualcomm and BlackBerry, which have a long-standing technology collaboration, didn’t release financial details of their new collaboration.
Earlier this year, San Diego-based Qualcomm agreed to pay a US$940 million rebate to BlackBerry to settle a dispute over royalty payments.
The automotive industry has been one of BlackBerry’s main opportunities for growth since it largely withdrew from the smartphone business and turned increasingly to secure wireless software and services…
The Waterloo, Ont.-based company says it has agreed to help optimize select Qualcomm hardware platforms to work with BlackBerry’s QNX software, which is used to manage features of wirelessly connected cars such as infotainment systems.
They have also agreed to optimize other BlackBerry software for use with select Qualcomm Snapdragon modems.
Qualcomm and BlackBerry, which have a long-standing technology collaboration, didn’t release financial details of their new collaboration.
Earlier this year, San Diego-based Qualcomm agreed to pay a US$940 million rebate to BlackBerry to settle a dispute over royalty payments.
The automotive industry has been one of BlackBerry’s main opportunities for growth since it largely withdrew from the smartphone business and turned increasingly to secure wireless software and services…
Statistics Canada says median net worth of families in 2016 up 14.7% from 2012
– canadianbusiness.com
OTTAWA _ Statistics Canada says the median net worth of Canadian families totalled $295,100 in 2016, up 14.7 per cent from 2012 the last time the survey was conducted.
Housing was both the largest asset and the largest debt for Canadians.
The total value of assets held by Canadians in 2016 was $12 trillion, up from $9.9 trillion in 2012. The median value of total assets owned by families amounted to $440,200, up from $391,700 in 2012.
Meanwhile, total debt reached $1.76 trillion in 2016, up from $1.41 trillion in 2012. The median value of total debt owed by families was $80,600 in 2016, up from $63,400 in 2012.
The report also found that 29.6 per cent of Canadian families were debt-free in 2016.
Statistics Canada says the share was highest among senior-led families with 58.0 per cent debt-free.
The post Statistics Canada says median net worth of families in 2016 up 14.7% from 2012 appeared first on Canadian Business – Your Source For Business News.
Housing was both the largest asset and the largest debt for Canadians.
The total value of assets held by Canadians in 2016 was $12 trillion, up from $9.9 trillion in 2012. The median value of total assets owned by families amounted to $440,200, up from $391,700 in 2012.
Meanwhile, total debt reached $1.76 trillion in 2016, up from $1.41 trillion in 2012. The median value of total debt owed by families was $80,600 in 2016, up from $63,400 in 2012.
The report also found that 29.6 per cent of Canadian families were debt-free in 2016.
Statistics Canada says the share was highest among senior-led families with 58.0 per cent debt-free.
The post Statistics Canada says median net worth of families in 2016 up 14.7% from 2012 appeared first on Canadian Business – Your Source For Business News.
(Sean Kilpatrick/The Canadian Press)Tom Jackman is an intelligent 41-year-old who spends most of his time volunteering. Not because he’s spectacularly charitable—though there may be something to that—but because he can’t find steady work. He has a business administration diploma, and had worked at the local curling club in Saint John’s, N.L., for the better part of the last 10 years, but right now, “work is touch and go,” says Jackman.
Jackman was diagnosed with Asperger syndrome, on the autism spectrum, when he was 29 years old. For the 12 years that followed, he had qualified for the Disability Tax Credit (DTC), which helped alleviate the financial burdens associated with his diagnosis, namely the cost of therapy and chronic underemployment. But back in March, the Canada Revenue Agency reviewed his eligibility for the credit and deemed him insufficiently disabled to receive the tax break. “I don’t think it’s fair,” says Jackman. “If you have a condition, and it doesn’t improve, or it doesn’t change, I don’t understand the [CRA’s] reasons for taking away the credit…
