How to go about securing the best savings strategy in Canada.
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Summer energy savings: How to stay cool without cranking the AC Jul 23rd
When the mercury begins to rise, Jeffrey Siegel sinks into a routine. Windows facing the east are covered in the morning before those in the west are shrouded in the afternoon, his fan gets switched on, more of his cooking moves to the barbecue, and a clothesline is brought out whenever there is la.... More »
What to do when you have insufficient or unused RESP funds Aug 14th
Registered education savings plans (RESPs) are the best way to save for a child’s post-secondary education. Contributions attract government grants, and the accounts grow tax-deferred. Withdrawals can be used for trade school, college or university funding in Canada and abroad.
According to Sta.... More »
Need a Loan ASAP? Don’t Stress. Get Pre-Approved in Minutes + MORE Jun 28th
Looking for a personal loan? Let’s face it, circumstances can change unexpectedly. And, an emergency can pop up at the worst possible time. From an unexpected home improvement bill or tax liability to your kids asking for a loan, don’t stress it. Personal loans are a way to obtain the m.... More »
The best high-interest savings accounts in Canada for 2024 Jun 25th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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It’s possible to be a first-time home buyer twice—here’s how + MORE Sep 24th
Can you do something and then later do it again for the first time? You can if that “first time” involves buying a home.
There are a few supports and programs in place for first-time buyers in Canada, including the Home Buyers’ Plan and the first home savings account (FHSA). First-time home.... More »
Family Tax Cut could disappear
– moneysense.ca
A busy parliamentary schedule may force families to pay back Family Tax Credit (Getty Images)Even as the Federal Conservatives trumpet their commitment to families, the current busy parliamentary schedule could scuttle legislation of the Family Tax Cut—forcing families to owe tax.
While family income tax savings, including the Family Tax Cut, became a reality last fall all the promises to families across Canada could be undone because of an obscure piece of parliamentary procedure. According to parliamentary rules the Family Tax Cut is not yet law until legislation has been passed. That means parliamentarians have until June to pass the legislation before they break for summer. Upon return in the fall, a federal election is expected, effectively deleting all potential legislation until a new government is officially elected. Not a significant problem on its own, except that the current busy parliamentary schedule could prevent legislation from being passed—and that’s happened before…
Credit Card Code of Conduct: Changes Announced for Fees and Mobile Payments
– ratesupermarket.ca
Conservative Finance Minister Joe Oliver announced new updates to the Credit Card Code of Conduct today, emphasizing three main changes intended to better serve both consumers and small businesses.
Here’s our breakdown of the main highlights:
1: Credit Card Interchange Fee Caps To Take Effect
A main addition to the Code is the implementation of interchange fee caps this month, following MasterCard and Visa’s voluntary agreement to reduce fees to an average of 10 per cent last November. The Code now mandates that the fee reductions be passed down to merchants, with the hope that it will result in savings for consumers.
Also Read: Credit Card Interchange Fees Changes Coming to Canada>
“This will save money for job creators and will save money for consumers,” Oliver stated, adding the measures will “promote fairness in the credit card market and provide choice for consumers.”
Interchange fees are part of the processing fees merchants must pay each time a credit card transaction is made…
