A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.
New rates for Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) programs went into effect as of July 1, 2018, and as a result, Canadian seniors are getting a small raise each month this quarter. But, the windfall is meek.
The debate is on for our July poll, with respondents split down the middle on whether or not more regulation is required to protect consumers from unethical tax and financial advisors. Many commenters agree that unscrupulous practices are an issue, but what’s the answer? Some believe the solution lies in higher educational standards. Share your thoughts!
Bank of Canada raised its benchmark interest rate to 1.5 percent (up from 1.25 percent) as anticipated, in an announcement from Governor Stephen Poloz this morning.
Canadians spend anywhere from $4.7 to $8 Billion on cross-border shopping and if you spent the July long weekend looking for bargains in the U.S. you may have had an unpleasant surprise: despite the loonie holding some ground against US currency, a new 10% surtax on certain consumer goods came into effective July 1, when if you exceeded your exemption limit.
Despite all the doom and gloom reported lately, Canada’s economy is actually growing. All signs point to an increase in Bank of Canada rates later today, as a new Labour Force Study from Statistics Canada indicates that for the month of June, the country’s labour force increased with the creation of 31,800 new jobs. The report also cites increasing self-employment levels.