Personalized Mortgage Solutions, Secure Mortgages
Personalized Mortgage Solutions, Secure Mortgages
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Employment Growth Holds Steady April brought positive news for the Canadian job market with employment increasing by 90,000, a 0.4% rise. This growth stabilized the unemployment rate at 6.1% and kept the employment rate steady at 61.4%, following six months of consecutive declines. Who’s Benefiting from Employment Gains? Core-Aged Workers Shine Men (25 to 54 …
Following sharp declines during the COVID‑19 pandemic, many financial stress indicators have now returned to more normal levels. Here’s a breakdown of the current situation: Households Without Mortgages Most Affected Stress Concentration: Financial stress is primarily concentrated among households without mortgages, with renters being the most affected, according to survey data. Mortgage Holders: Stress indicators …
Key Takeaways Canada’s Financial System ResilienceCanada’s financial system has shown resilience over the past year. Various participants, including households, businesses, banks, and non-bank financial institutions, have proactively adjusted to higher interest rates. Ongoing Risks to Financial StabilityDespite this resilience, the Bank of Canada identifies two key risks to financial stability: Debt Serviceability Adjustment to Higher …
Federal Budget Summary: Housing and Capital Gains Tax In Budget 2024, the Liberal government renewed its commitment to enhancing affordability for low- and moderate-income Canadians. New spending totaling $53 billion over five years ($57 billion including expenditures from the Fall Economic Statement) was allocated for this purpose. A significant portion of this budget, $8.5 billion, …
Eligible employees who worked from home in 2023 will need to utilize the Detailed Method to claim home office expenses. The temporary flat rate method, which was applicable for a limited period, does not extend to the 2023 tax year. As an employee, you may qualify to claim specific home office expenses. These expenses include …
