Is Canada’s Debt Too High?

Headline: Is Canadians’ soaring debt too high? Our government hasn’t a clue: While the household burden is at historic heights a ‘secret document’ reveals Ottawa has no way of knowing whether that’s too high.

Via: Financial Post

Some Canadians would sell an organ to get rid of debt

Headline: Some Canadians would sell an organ to get rid of debt, survey shows.

Via: Global News

Canada’s household debt hits 1.8 Trillion

Headline: Canada’s household debt rises to $1.8 trillion, increasing risk to banking system.

Via: Toronto Star

Vancouver and Toronto residents digging into debt

Headline: Vancouver, Toronto residents digging into debt faster than any Canadians, data shows.

Via: Global News

US Credit Card are pre-recession levels

Headline: [US] Credit card debt has now reached pre-recession levels.

Via: Yahoo News


Scammers using text messages claiming to be CRA

Headline: Fraudsters pose as Canada Revenue Agency in tax season text message scam.

Via: Global News

BC Women make less money, worry about it more

Headline: B.C. women make less money than men and worry about it more: Survey

Via: Global News

Vancouver residents carry highest debt

Headline: Vancouverites are, on average, Canada’s most indebted people in major cities, data shows.

Via: Global News

Canadian Federal Budget 2018

Here’s a collection of stories regarding the federal budget released 27 March 2018.

Headline: Federal budget highlights: Twelve things you need to know:  From gender equality and parental leave, to research funding and small business tax reform, here are the key changes in the federal budget

via Globe and Mail

Headline: Federal budget 2018: Highlights of Bill Morneau’s ‘equality + growth’ budget.

via CBC News

Headline: Trudeau government reveals the 2018 federal budget.

via Global News

Headline: Five ways the federal budget may affect average Canadians: Smoking just got more expensive, housing hopefully will get cheaper and the tax hit for cannabis.

via Financial Post

CRA Looking at Undeclared Income from Tips

There have been a couple of stories recently about Canada Revenue Agency taking a closer look at the hospitality industry – specifically undeclared income from tips.

With more people paying, an tipping, electronically, it’s easier to track the level of tipping being paid vs. what’s being declared.

See these stories:

Headline: CRA cracks down on undeclared tips for restaurant and bar staff.

Via: Globe and MAil

Headline: Audits of food servers will continue “until an improvement in compliance is noticed.”

Via: Huffington Post Canada



Canadians Continue to Borrow Against their Homes

Headline: BUSINESS REPORT: Canadians can’t stop using their homes as piggy banks.

Via: Global News

Home Prices Rise in January – but listings and sales are down

Headline: Canada home prices rise in Jan, Toronto up for first time in six months. Vancouver up 1.2 %. 

Via: Reuters

Headline: Canadian home sales, listings slump in January with arrival of new mortgage rules.

Via: CBC News

Canadian January 2018 Employment Stats

Headline: Canadian economy lost 88,000 jobs in January: National jobless rate rises to 5.9 per cent.

Via: CBC News

New Mortgage Rules Send Borrowers to Alternate Lenders

Headline: New mortgage rules sending borrowers down the credit ladder to alternative lenders.

Via: CTV News

Canadians admit to Financial Infidelity

Headline: Secret money piles, hidden debts: 4 in 10 Canadians admit to ‘financial infidelity’

Via: Global News