More Canadians shopping around for food, following a budget due to rising food prices Rising food prices are becoming a major concern for Canadians, according to a Royal Bank of Canada survey. With rising food prices eating into their household budgets, an overwhelming majority of Canadians (91 per cent) say they will tighten their belts [...]
CFIB says Canada Pension Plan expansion would halt employment growth Increasing the benefits of the Canada Pension Plan would hurt the economy, according to a new report from the Canadian Federation of Independent Business. Expansion of the Canada Pension Plan will be discussed by provincial finance ministers next month. One option under consideration includes increasing [...]
Overlooking additional costs of Canadian tax compliance Canadians spent anywhere from $19.2 billion to $24.8 billion on tax preparation, filing and remittance to comply with the Canadian tax code in 2011, according to a report by the Fraser Institute. “At this time of the year as Canadians file their income tax returns, they clearly see [...]
Better Business Bureau offers tips for those filing last-minute taxes The Better Business Bureau (BBB) is urging Canadians who are filing last-minute taxes to avoid making a hasty decision when enlisting the help of a tax preparation service. The tax filing deadline is coming up on April 30. “There are a number of potential pitfalls to [...]
Calgary Chamber says employment insurance changes will stimulate economy Employment insurance changes are needed to help improve the economy, according to the Calgary Chamber of Commerce. “The government’s commitment to reforming provincial transfers through a job grant matching program is a good first step in this direction,” says Calgary Chamber chief economist Ben Brunnen. The proposed job [...]
University of Calgary annual provincial grant reduced to $32 million The University of Calgary is freezing the salaries of the president, vice-presidents and other senior officers, starting July 1, 2013 until June 30, 2014. “The salary freeze is in response to the current fiscal situation in the province of Alberta, and is consistent with recent [...]
Self-employment tax tips from BDO on how to avoid debt when it comes to paying taxes BDO Canada Limited recently released the following self-employment tax tips to help with tax planning and avoiding tax debts. Track your receipts and invoices Being self-employed often means a lot of additional paperwork, which can be a headache. Record [...]
Young Canadians worried about ability to save for retirement According to a study by BMO Financial Group, 80 per cent of young Canadians aged 18 to 34 are worried about their ability to save for retirement. Of the age group, 55 per cent think that they will be unable to achieve their ideal retirement lifestyle, compared [...]
Millennials find it difficult to save for the long-term amidst economic uncertainty Each generation, from Boomers to Gen X to Millennials, have specific attitudes towards money and saving. TD Canada Trust Senior Vice President John Tracy and Western University Canada Department of Psychology Dr. J Bruce Morton shared the influences on Millennials, Gen Xers and [...]
Retirement planning an increasing concern for Canadians 18-54 Canadians aged 18 to 54 years old are concerned that retirement planning will be impaired by saving for their children’s education and taking care of their aging parents, according to an RBC poll. Despite the potential strain of these family priorities on their retirement savings, more than [...]
