If you’ve recently made a profit from selling an investment, you might need to pay capital gains tax. When you sell an asset in Canada, like stocks, bonds, valuable metals, real estate, or other property, you only report capital gains or losses. These gains or losses are subject to capital gains tax. This article will … Read more
The Canada Pension Plan (CPP) is a crucial retirement income system administered by the Canada Revenue Agency (CRA). The CPP provides financial support to retired citizens, ensuring they have sufficient savings to manage the cost of living and inflation. Recently, there has been speculation about an additional $1,300 CPP payment expected in August 2024. This … Read more
The Old Age Security Pension Plan was established by the Canadian government to help seniors and the elderly cope with the nation’s inflationary cycles. To provide citizens with monthly financial support, these payments are issued and distributed every month. Recently, reports about $1700 per month by the CRA in August 2024 have surfaced on the … Read more
The Employment Insurance (EI) Program offers temporary income support to unemployed individuals seeking employment or looking to enhance their skills. The program’s primary goal is to provide financial aid to eligible workers due to various reasons such as job termination, resignation, health issues, or maternity/paternity leave. What is the Maximum EI Payment? Employment Insurance (EI) … Read more
Are you aware that CPP+OAS will be paid this month at $2450 + $600? You will receive two payments, who is eligible? According to the logic that there was a statutory leave in the month before, the confirmation of the $2450+$600 is for this month. The CRA officials decided to prove a total amount that would include the … Read more
You will learn about the Seniors Relief of $2350 in Canada. Who can claim it and how to do it? Full News. The Canadian federal government is working on various ways to provide financial assistance to Canadians. The government provides major assistance to old-aged seniors in terms of cost of living, pensions, and other aspects. This will allow … Read more
Discover everything you need to know about Ontario’s Provincial Nominee Program (PNP). This article will provide comprehensive details on what the Ontario PNP is and how to apply. Find out all the essential information about Ontario’s PNP, including what it entails and the application process. This article covers everything you need to know. Ontario PNP … Read more
All Canadian citizens need to understand the new guidelines and policies that are being released by the government. Both landlords and tenants must understand the new changes made to the rent policies. Rent increases vary by province, so you should check what the latest rate is for your province. It is important to follow certain guidelines to raise … Read more
Canada residents have received the July 2024 Canada GST credit payment. However, the amount that was provided previously has changed. Canada GST Payment 2024 is now credited to the accounts. Accounts that haven’t received payments may take up to 10 working days to reflect the payment. You can check the Canada GDP Increase 2024 in the article shown below. Canada … Read more
Be sure to read this post for detailed information on Tax Brackets in Ontario: Explore the various taxes in Ontario and the applicable tax rates. Tax Brackets Ontario In Ontario, income tax is calculated based on your taxable income, which is your total gross income from all sources minus any allowable deductions. The province employs … Read more