Industry

Budget boosts charitable tax credits, LSVCCs phase out

When it comes to charitable contributions, the Budget proposed some positive changes.

By Suzanne Sharma |March 27, 2013

3 min read

BMO raises mortgage rates

BMO is raising its five-year residential mortgage rates by 10 basis points. Effective March 29, 2013, the new interest rate will be 3.09%. “Protect yourself from rising rates by locking in for five years and become mortgage-free faster by choosing a maximum amortization of 25 years,” says Ernie Johannson, senior vice president, personal banking Canada, […]

By Staff |March 26, 2013

1 min read

Personal debt levels are high: CICA

Three-quarters of executive chartered accountants believe the high level of personal debt among Canadians is hurting the economy.

By Staff |March 26, 2013

1 min read

New tax rules don’t affect BMG fund

The 2013 federal budget proposes to eliminate the taxable benefits that have been enjoyed by fixed-income funds, by converting ordinary or interest income to capital gains. Read: 2013 Budget: Not much good tax news Since only one-half of a capital gain is taxable, the government’s revenue is reduced by 50%, so investors have been realizing […]

By Staff |March 26, 2013

1 min read