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It gets harder to predict next BoC rate decision
Economists react to the latest consumer price index print The Bank of Canada has made it clear that any changes in interest rates will be data dependent, but how is the latest consumer price index data likely to influence its decision? With the CPI print from Statistics Canada released Tuesday showing an uptick in the pace of…
Income | income tax | North
How much income tax Canadians will pay next year based on their bracket
Canadians will be paying more federal income tax next year, according to the Canada Revenue Agency (CRA). The CRA revealed the federal tax brackets for 2025, adjusted for inflation. While federal tax rates are the same, the income thresholds for each bracket have shifted. In 2025, the indexation increase will be 2.7%, which is lower than the 4.7% in 2024, according to the agency. This is how much income tax you’ll have to pay next year based on your bracket: Less than or up to $57,375 — 15% Between $57,375 and $114,750 — 20.5% Between $114,750 and $177,882 — 26% Between $177,882 and $253,414 — 29% $253,414 and over — 33% This comes after the federal government implemented the capital gains tax in June, which increased the inclusion rate from one-half to two-thirds for any Canadian or corporation that makes over $250,000 per year in capital gains. The tax hike only impacts a small portion (0.13%) of the wealthy population. “An increased Lifetime Capital Gains Exemption would ensure most middle-class entrepreneurs won’t pay more tax because of these changes, and the new Canadian Entrepreneurs’ Incentive would encourage entrepreneurs to invest in capital-intensive and high-growth sectors,” Canada’s Department of Finance stated. When it was first announced, Canadians ripped on the wealthy upset by the capital gains tax hike, and certain industries like the medical field said the hike could push doctors to quit. You can find more information on your income tax bracket here.
Majority of Canadians admit to speeding, driving over the limit
Posted November 20, 2024 6:39 am. It appears Canadian drivers have no issue putting the pedal to the metal. New public opinion research from the Canadian Automobile Association (CAA) revealed some fascinating statistics regarding fast drivers. Nearly 70 per cent of Canadians admit to speeding in a residential area at least once in the last year. According to the poll, half of respondents say they routinely speed on the highway, and one in five drivers say they regularly drive well over the speed limit. It would seem that age isn’t a deterrent to speeding, as the CAA’s poll revealed that speeding isn’t limited to young people. While 50-plus drivers self-reported doing it less, all age groups admitted to persistently exceeding the speed limit in their respective regions. “Higher speeds reduce drivers’ reaction time and increase the risk to themselves and everyone else,” said Kristine D’Arbelles, senior director of public affairs at CAA National. “Speeding increases your stopping distance, making a collision more likely and severe, but it saves you only a small amount of time.” Overconfidence on the roads? According to the CAA’s public opinion poll, only 35 per cent of Canadians think they will get caught speeding, while four in 10 admitted to running a red light. Additionally, the CAA found that 68 per cent of people drove when they were too tired, and 54 per cent admitted to using their phones while driving at least once in the last year. In recent years, automated speed cameras have become more prevalent on city streets, often nabbing drivers for exceeding the speed limit. In 2023, Toronto’s city council unanimously approved a motion to increase the number of cameras from 75 to 150. According to the city, speed cameras have effectively reduced the number of people speeding and overall vehicle speeds, pointing to increased compliance and improved driver behaviour. The latest CAA findings are based on a poll of 2,880 Canadians from Sept. 13 to 21, 2024.
court | financing | foreclosure | Real Estate | Realtor
Buying a Foreclosure Home in Canada
If you are interested to have access to all Vancouver Foreclosures MLS® Listings, please click on the “VIP Insider Access” button. In the “Notes” box include the code “Foreclosures” or visit Vancouver Foreclosures and register What You Should Know Foreclosed homes are typically homes put on sale by lenders after the previous buyer defaults on their mortgage. Foreclosures are rare…
Rising costs may keep Canadians from dental care
Posted October 24, 2024 4:25 pm. Last Updated October 24, 2024 5:04 pm. A new report from Statistics Canada shows that almost one in four adults experience persistent pain in their mouth, and a Vancouver dentist’s office says inflation may be the cause. Statistics Canada published a report on self-reported oral health problems Wednesday. It says adults aged 18 and older were more than twice as likely as children and youth aged 0 to 17 to report mouth problems – either in the form of having oral pain or avoiding certain foods. Among Canadian adults, 24 per cent reported persistent pain in their mouths, with lower-income families disproportionately affected. The executive director of the Strathcona Community Dental Clinic, Erin Riddell, says people have been putting dental care on the back burner by spacing out their appointments or only coming when absolutely necessary. “In past years, [we] have found that [patients] would come for a cleaning twice a year… but then they’re finding that they need to adjust their finances and budget,” said Riddell, adding that those patients often reduced their visits to once a year. “Others also would even shy away from paying for the cost of cleanings completely, and they would only come if they have major tooth pain.” Riddell says the clinic follows the BC Dental Association Fee Guide and only charges their patients what’s needed for the treatment. On average, she explained, a cleaning and check-up can cost around $250 at a private clinic; meanwhile, at Strathcona, the cost goes down to about $150 for someone without dental insurance or a care plan. Unfortunately, Riddell says inflation has also hit the dental industry. She says the clinic has seen its largest increase in fees from the BC Dental Association, due to cost of materials and supply chain issues. “The fees have truly doubled in the last ten years.” Riddell says dental problems can increase in severity if not treated properly. She says a small cavity with a neglected filling can turn into a larger matter that needs a root canal. But even those initial costs for the simpler treatment can be too costly for some. “Just the fear alone of what it would cost may even stop somebody of low income from even going to get a simple exam.”