Yes, it’s true — CRA convictions are a real thing and they happen to average people across the country. When it comes to filing taxes late, tax debt, and tax evasion, the Canada Revenue Agency (CRA) has many measures at its disposal. This...
The Canadian federal election is coming up — and housing affordability is on every party’s platform. According to a survey from Abacus Data, 57% of Canadians polled report that an issue related to cost of living, taxes, housing affordability...
When you’re in financial trouble, you want to get out of debt quickly. But finding out how to pay off debt fast can depend on many factors: The amount of debt. If you are carrying a lot of debt, the time to pay it off in full may be longer...
You want to refinance your mortgage, but is your credit up to the task? A number of things can contribute to a low credit score, a.k.a. bad credit. This includes: Defaulting on a loan or bill payment. Poor payment habits, such as missing due...
Having financial troubles can be stressful no matter where you are in life – but it’s doubly so if you own a house. There’s a common fear that financial restructuring will mean losing your home. Fortunately, there are ways to protect against...
How do you stop a wage garnishment? If your paycheque is being targeted by creditors, it’s a critical question to ask – and we have the answer. Stopping a wage garnishment immediately is vital to your financial health: A wage garnishment...
If you’re interested in refinancing your mortgage, it’s better to act sooner rather than later. Why? Let’s break down the reasons. New Canadian mortgage regulations are making it harder to access financing. On January 1, 2018, the Canadian...
Housing affordability in the GTA is close to the worst it’s ever been. According to the RBC Housing Trends and Affordability report, a household in Toronto would need 66% of its income to cover housing-related expenses. And the difficulties...
It’s income tax season and many Canadian filers may be turning to online tax preparation services, like Liberty Tax. These services are great options for submitting your income tax return, and for finding more deductions and rebates you may...
You might have heard the phrase “the bark is worse than the bite.” But when it comes to Canada Revenue Agency (CRA) collections, the bite is definitely scarier. The CRA has many options available for collecting on unpaid tax debts – far more...
CRA Director Liability and You – Protect Yourself Before It’s Too Late! If you own, or are a director for, a company and accept trust money for the federal or provincial governments, you could be subject to CRA director’s liability. CRA...
Good news for 2018: we won’t be seeing any more Bank of Canada interest rate increases this year. On December 5, 2018, the Bank of Canada (BOC) announced that the overnight interest rate would stay at 1.75% for the month of December. The next...