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Regulators propose transparency rules for financial advisers, investment dealers
Enhanced disclosure requirements on investment costs and performance proposed
Category: Canadian Economy
2011 Federal Budget In Common English-Part 2
By ILSTV Staff on Jun 14, 2011 in Canadian Economy, Consumer Guide, Featured, Financial Planning, Financial Reports
View the video here on your mobile device. Ian Quigley is the Senior Consultant at the innovative financial advice firm, Qube Consulting 2011 Federal Budget In Common English Part: 2 The Finance Minister described the budget as “the next phase of Canada’s economic action plan”. In plain language the budget is a status quo plan. [...]
2011 Federal Budget In Common English-Part 1
View the video here on your mobile device. Ian Quigley is the Senior Consultant at the innovative financial advice firm, Qube Consulting 2011 Federal Budget In Common English: Part I The Finance Minister described the budget as “the next phase of Canada’s economic action plan”. In plain language the budget is a status quo plan. [...]
Tax Freedom Day in Quebec is the second latest of all provinces
In 2011, the average Quebec family (with two or more individuals) will earn $81,398 and pay a total of $35,660 in taxes, for a total tax bill amounting to 43.8 per cent of its income
Visa making spending easier
By ILSTV Staff on Jun 03, 2011 in Business, Canadian Economy, Consumer Guide, Featured, Software & Technology
View the video here on your mobile device. Narrator: Starting in the fall of 2011 Canadians and Americans will be able to abuse their credit cards even easier as Visa introduces their next generation of Smart Phone payment solutions. Dave Wentker: Doing something like going to a ball game is as simple as taking your [...]
Toronto named number 2 centre of business
PwC’s Cities of Opportunity study ranks 26 global centres of finance, business and culture; New York City places first
Canadians pay more in tax than on food, clothing, shelter combined
By ILSTV Staff on Apr 27, 2011 in Canadian Economy
Since 1961, the average Canadian family’s total tax bill has increased by 1,686 percent
Most Canadian millionaires are self-made
By ILSTV Staff on Apr 26, 2011 in Canadian Economy
Only six percent of affluent Canadians inherited the majority of their wealth
Homeowners focused on debt reduction
Most Canadian homeowners want little more than to reduce their debt – and it’s a desire that’s been at the top of their wish lists for four consecutive quarters. Manulife Bank of Canada surveyed Canadian homeowners and found nearly three in 10 homeowners rated debt freedom as “10″ out of 10 – their top financial [...]
Risk tolerance of small business owners drops
Canadian small business owners are still waiting for the promised economic recovery to hit their bottom lines and as a result are increasingly reluctant to take risks with their business and their finances. The quarterly American Express Small Business Monitor conducted by Angus Reid Public Opinion has found that the willingness among Canadian small business [...]
Ontario families minimally impacted by HST
By ILSTV Staff on Mar 23, 2011 in Canadian Economy
The implementation of the Harmonized Sales Tax (HST) in Ontario has affected families in that province – though not as severely as expected. In a new paper (PDF) released by The School of Public Policy at the University of Calgary, Professor Michael Smart of the University of Toronto found that while harmonization has caused some [...]
Despite official stats, Canadians still think country is in recession: poll
By ILSTV Staff on Mar 08, 2011 in Canadian Economy
The official data shows Canada has long recovered from the recession. Canadians don’t appear convinced. A new Canadian Press Harris-Decima survey has 59 per cent of respondents saying we’re still in a recession that Statistics Canada declared dead over a year ago. Not only did they believe the country remains in a slump, but about [...]
Better customer service in banks will keep customers
Most Canadians trust their banks, but trust alone is not enough to keep many as customers. A recent report from Ernst & Young found that 75 percent of Canadians say their trust in banks has stayed the same or increased in the last 12 month, but 64 percent say they plan to switch banks – [...]
Canadians not waiting for retirement to dip into RRSPs
The March 1 deadline for contributing to a Registered Retirement Savings Plan (RRPS) is here, but forty percent of Canadians won’t be using the funds for retirement. A recent BMO Financial Group poll, conducted by Leger Marketing, found that four-in-ten Canadians who have an RRSP will withdraw at least part of their funds before reaching [...]
Insurance activities fuel Q4 financial sector profits
Canadian corporations earned $65.5 billion in operating profits in the fourth quarter, up 7.9% from the previous quarter. Increases were widespread across the economy, as 19 of 22 industries reported higher profits. Statistics Canada says that non-financial sector profits increased 7.3% to $49.6 billion, while in the financial sector, profits rose 9.5% to $15.9 billion. In the non-financial sector, three industries (manufacturing, primarily petroleum and coal manufacturers; oil [...]
Canadian families average six-figure debt levels
By ILSTV Staff on Feb 18, 2011 in Canadian Economy
The debt level of Canadian families is rising at an alarming rate. According to new research from the Vanier Institute of the Family, the average family debt in Canada has hit $100,000. In addition, the debt-to-income ratio, which measures household debt against income, stands at 150%, meaning that for every $1,000 in after-tax income, Canadian [...]
Chair of the CGA-BC offers his reaction to BC budget
View the video here on your mobile device. (Audio clip courtesy of CNW) Narrator: On February 15, Minister of Finance, Colin Hansen, delivered the budget for the Province of BC. Bruce Hurst, Chair of the Certified General Accountants Association of British Columbia, offers his reaction. Bruce Hurst: Today’s budget was very much a status quo [...]
Taxman’s website source of TFSA confusion
By ILSTV Staff on Feb 15, 2011 in Canadian Economy
A single, ill-chosen word on the Canada Revenue Agency website appears to have compounded confusion about a popular tax shelter that left 72,000 people with unexpected tax notices last year. Agency bureaucrats used the phrase “excess” contributions to describe a situation in which someone puts too much money into their Tax-Free Savings Account in any [...]
More Canadians were on move in 2010 and they were mostly headed West
A new report from the TD Bank suggests that Canadians are taking the phrase “Go West, young man” seriously. More Canadians were on the move last year as a percentage of the population than any year since 1998, the bank says. And most were headed West to take advantage of better job prospects and higher [...]
