Did you know…… you can make income tax payments in installments!? If you owe taxes to the government, the Canada Revenue Agency (CRA) will work with you to make a payment plan that works for you. Because of the financial hardships people are dealing with because of COVID-19, the CRA
During the lockdown, we are spending more time together than if the kids were at school throughout the week. Children are sponges and are learning from watching us. One of the things we are teaching them, purposely or accidentally, is our own beliefs about finances and our personal habits with
It’s that time of year when many anticipate the arrival of their tax return? Are you receiving funds this year? If so, why not pause and consider the best use of your money. After all, the funds you will be receiving are not part of your monthly income, so they
Are you feeling like debt is weighing you down? Unable to pay the debts you owe? Struggling and not sure where to turn? The latest MNP Consumer Debt Index found that as much as 53% of Canadians were $200 or less away from not being able to pay their monthly
What is a nest egg you ask? A nest egg is a sum of money that has been saved for a specific purpose. This savings is generally designated for longer-term goals. This is a good time to think about your goals and what it will take to reach them. Before
Free Income Tax Filing Services Still Operating Under COVID-19 Conditions in Bruce and Grey Counties. This year, under COVID-19 conditions, the Community Volunteer Income Tax Program (CVITP) is changing how it provides free services. Most local organizations in Grey Bruce will be offering drop-off/pickup, virtual or phone services. Across both
Credit is like a hammer; it can help build our dreams or it can leave us in ruins – it’s all in how we use it. What a wonderful feeling to have that envelope at the door shouting “Congratulations, you’ve been approved for a $10,000.00 loan!”. We all love to
Canadians who received pandemic benefits will have up to 1 year to pay back any debt from those benefits without interest. This applies to Canadians who made up to $75,000 in taxable income in 2020 and received one of the federal government’s five pandemic relief benefits or employment insurance benefits:
Have you heard about the Guaranteed Income Supplement (GIS)? The GIS is a federal monthly payment which is based on income and is available to low-income Old Age Security pensioners. It is not taxable. You may qualify if… You are a senior 65 years or older. You receive the Old
How do the COVID-19 benefits impact your income tax return? If you received the Canada Emergency Response Benefit (CERB), Canada Emergency Student Benefit (CESB), Canada Recovery Benefit (CRB), Canada Recovery Sickness Benefit (CRSB), or Canada Recovery Caregiving Benefit (CRCB) payments, these are considered taxable income, and you will have to
