The largest portion of the debt loads borne came from student loan debt. In actuality, CAD 16,765 was the average amount of student loan debt owed by millennials. Additionally, data indicated that approximately 331,250 students enrolled in the Repayment Assistance Plan (RAP) as a result of being unable to make their loan installments. You might … Read more
This can be understood as when you sell an asset like stocks, bonds, or investment property for more than their adjusted cost base (ACB), you realize a capital gain. Capital gains tax is the tax you must pay on the profit (the capital gain) you made from the sale of that asset. The amount of … Read more
In Canada a monthly payment build for old aged person who is more than 65 years is known as the Old Age Security pension and the month following your 65th birthday, will be automatically registered for payments by Government of Canada. In cases where details are absent from your record, you might need to make … Read more
If you are a taxpayer in Canada then you should be familiar with the CRA Notice of Assessment which is prepared by the Canada Revenue Agency for filing tax payments on time. After that, CRA will send you a notice of assessment within 14 – 28 days to provide you with the assessment you paid … Read more
MyCRA is a mobile application that allows the user to get tax-related information to stay updated. The Canada Revenue Agency (CRA) has set up a mobile application called MyCRA that allows all taxpayers in Canada to log into the application and track all their data and information related to filing taxes or paying their taxes … Read more
A Mortgage refers to the type of loan that a person takes to buy a house or land, but this amount needs to be repaid to the lender along with specific interest. To make the procedure convenient and smooth, the Alberta Government has imposed some Mortgage charges. A specific duration is provided by the lender … Read more
If you live in United Kingdom, few tax benefits that lower your required income tax payment is there for you. I go over the tax allowances that might be eligible, but keep in mind that not all of them operate the same way. Some, like the married couple’s allowance and the marriage allowance, provide an … Read more
Canadians who save money are looking for ways to increase the returns on their investments without paying more taxes. Keeping income-producing investments inside a Tax-Free Savings Account (TFSA) is one way to accomplish this goal. The Canada Revenue Agency, or CRA, is the country’s tax authority and a one-stop shop for all things tax-related. Even … Read more
Read the post to learn more about the Cost of Living in Australia: Eligibility, Amount, Payment Dates, and How to Claim it. The Cost of Living is an essential part of measuring the poverty and economic condition of the country. The allowance has been released by the Government of Australia to meet the Cost of … Read more
In Alberta, the general minimum wage is CAD 15 per hour as of October 2023 and 2018 saw the province become the first in Canada to reach that threshold, setting the current rate. With the exception of students under the age of 18, all provincially regulated employees working full-time, part-time, or hourly in the province … Read more