Category: Financial Education
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What is Income Tax in Canada?
Read more »: What is Income Tax in Canada?Income tax is the percentage of your earnings (business or personal) that you pay to the government. Canada’s income tax system is graduated, meaning that your tax rate will depend on what you earn. Canada Revenue Agency (CRA), which manages the income tax revenue, is responsible for financing various government services. These services include vital…
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What is Corporate tax?
Read more »: What is Corporate tax?Corporate tax, or the corporate income tax, is a tax that is levied on profits or incomes generated by businesses or corporations. Corporate taxes can be levied on income produced from the business activities and income produced on property such as investments. The government imposes a direct income tax on companies’ earnings, usually based on…
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How Can Termination of Employment Affect Your Group RRSP?
Read more »: How Can Termination of Employment Affect Your Group RRSP?Have you been working for an employer that offers group RRSP? The group RRSP plan is often a carrot used to attract talent and keep employees. So what happens if you no longer work there? What happens when you are fired or terminated? When you lose your job, the last thing you want to think…
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How will the economy of Canada impact your registered accounts?
Read more »: How will the economy of Canada impact your registered accounts?It goes without saying that a country’s economy has a significant impact on different sectors or areas. The economy is an ever-changing entity. Even when the Canadian economy seems to be doing well, many people continue to dread that much-talked-of economic downturn. People are always worried about what they will do when this inevitable and…
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Why you don’t need a professional certification in financial services
Read more »: Why you don’t need a professional certification in financial servicesProfessional certification is an essential milestone in anyone’s life. It may only validate your skills and is also another way to differentiate yourself from others, especially in the job market. However, when it comes to professional certifications in finance, do you need one to manage your finances successfully? Many Canadians have always had the misconception…
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Planning Your Financial independence
Read more »: Planning Your Financial independenceFinancial independence is the dream for most Canadians. Many people start to save, but then the pressure of running the household and other commitments gets in the way, and they end up spending their money and can never seem to get the financial footing they seek. To achieve financial independence, you have to plan your…
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What should every Canadian Know about Your Will?
Read more »: What should every Canadian Know about Your Will?Do you want to control the allocation of your property even after your death? Well, a will is an excellent way of achieving this. Creating a will is not a walk in the park. There are several things that every Canadian should know about a will. First and foremost, it’s essential to understand that your…
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Debt management: Budgets, Options, Consolidation, Creditors
Read more »: Debt management: Budgets, Options, Consolidation, CreditorsDebt management is a process typically spearheaded by a financial counselor who helps individuals who find themselves spiraling in debt, particularly unsecured debts such as credit card debt.
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What is Family Economics
Read more »: What is Family EconomicsUnderstanding Family Economics Family economics represents the health of your personal financial life on one of the things you value the most- your family. It is how you handle finances to satisfy your family needs. It is crucial to understand how your family life, the decisions you make, and spending patterns impact your overall financial…
