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
This article will delve deep into more information on ACWB Payment Dates in 2024. Through the report, you would be able to know what ACWB is, and what is the eligibility criteria for a $2,461 ACWB Payment. ACWB Payment Dates 2024 ACWB refers to Advanced Canada Workers Benefits is a program established to support low-income … Read more
In October/November 2023, Canada’s unemployment rate stayed at 5.5% for the fourth consecutive month, the highest level since January 2022 and just below forecasts of 5.6%. However, the unemployment rate remained significantly lower than pre-pandemic levels. While around 64 thousand jobs were created, well the estimates of a 19 thousand addition, unemployment increased by 8.1 … 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
Today you will know what CRA Mileage Rate 2024 is and how much it will be for medical travel. According to the Canada Revenue Agency (CRA), the CRA Mileage Rate will be given to Canadian citizens who travel in or outside the country in case of an emergency. So the government will give them some … Read more
Further information on the cost of living assistance payment schedule for the upcoming round has been released by the Department for Work and Pensions (DWP). Means-tested benefit claimants, such as those receiving tax credits, Universal Credit, and Pension Credit, will begin receiving cash in the spring and get three direct bank account payments during the … Read more
After submitting an application or filing their income taxes, Canadians receive benefit payments. Sometimes we even forget we are receiving additional money because the majority of them are applied automatically. Additionally, if you happened to look into your bank account, you might have already received a few of these benefit payments. These are typically deposited … Read more