The Bank of Canada will be scrutinizing May inflation figures this week as it gauges whether it can deliver back-to-back interest rate cuts. Statistics Canada is set to release the annual inflation rate for May on Tuesday.Inflation has consistently shown signs of cooling this year, last coming in at 2.7 per cent in April.Those easing
Canadians are scrambling to get their “affairs in order” as controversial changes to how capital gains are taxed are set to go into effect on Tuesday, accountants say. The changes, which have received pushback from business groups and doctors, will increase the inclusion rate for taxable capital gains from 50 to 67 per cent for
A flood of listings in many Canadian housing markets is giving buyers who can qualify their pick of the litter and is forcing some sellers to get creative to land a deal. A glut of condos in Toronto, for example, means some sellers have to pull out unorthodox strategies to land one of the few
Rolling out an automatic tax filing system would mean Canadians receive more than a billion dollars each year in currently unclaimed benefits from not filing their tax returns, according to the federal fiscal watchdog. The Parliamentary Budget Officer (PBO) published a report Thursday looking into the impact of automated tax filing from the Canada Revenue
The first interest rate cut from the Bank of Canada in more than four years will not be enough to help most prospective homebuyers feeling sidelined by high borrowing costs, new polling suggests. The Ipsos poll conducted exclusively for Motorcycle accident toronto today after the Bank of Canada’s 25-basis-point rate cut on June 5 shows pessimism about
The economic stars appear to be aligning for the Bank of Canada to deliver an interest rate cut on Wednesday, but some economists warn the central bank might have other ideas when it comes to the right timing for the hotly anticipated first cut of the cycle. The Bank of Canada has kept its policy
Descrease article font size Increase article font size U.S.-based restaurant chain Red Lobster has filed for Chapter 11 bankruptcy protection in a Florida court after securing US$100 million in financing commitments from its existing lenders, the company said on Sunday. The company listed its assets and liabilities to be between US$1 billion and US$10 billion
The Canada Revenue Agency will not go after tenants for tax owed by their landlords living out of the country, according to a statement from the minister of national revenue. The clarification comes after confusion swirled online this week about whether a tenant is responsible for withholding taxes paid on rent to their landlord, if
A couple from Nova Scotia say they’re permanently throwing in the towel on housework after waking up $5-million richer on Sunday morning. Wayne Munro and Jill Clausson-Munro of New Glasgow, which is about 90 minutes outside of Halifax, said they’ve played the same set of numbers on every Lotto 6/49 ticket they bought since 1986.
A surge in new listings but a lack of demand from buyers is putting the Canadian housing market in its “most balanced” position since before the COVID-19 pandemic, the national real estate organization says. The Canadian Real Estate Association (CREA) said Wednesday that home sales fell 1.7 per cent between March and April.Sellers, however, were