Author: Darrel Pratt

The Bank of Canada’s pursuit to control inflation through increases to interest rates will continue to have a trickle down effect into the country’s rental market, experts say. In the past year, the average rent for all property types climbed to $2,043 as of September 2022, according to rentals.ca, an industry tracker. What happens to […]

Essentially, if you are a consumer with a variable-rate loan, an interest rate hike will result in you paying more each month. What does the Bank of Canada interest rate hike affect? Economic growth is expected to stall through the end of this year and the first half of next year as the effects of […]

Influencing short-term interest rates If inflation is above target, the Bank may raise the policy rate. Doing so encourages financial institutions to increase interest rates on their loans and mortgages, discouraging borrowing and spending and thereby easing the upward pressure on prices. How does the Bank of Canada combat inflation? In order to achieve the […]

There are 14 gasoline-producing refineries in Canada (17 refineries in total): 6 in western Canada, 4 in Ontario, 2 in Quebec, and 2 in the Atlantic Provinces. Although production varies by refinery, gasoline comprises the largest portion of refinery output at 36%, on average. Is Canada self sufficient in gasoline? Canada has the oil and […]

Because there isn’t a way to update your prior-year tax software to handle the 2021 tax laws, you’ll need to purchase TurboTax 2021 if you want to use TurboTax to prepare this year’s taxes. Is paying for TurboTax worth it Canada? After extensive research, TurboTax wins out as our top choice for the best tax […]

The features are very similar to what you’ll find with the online software, but there is no free option and the pricing is slightly higher, as follows: Basic: $19.99, includes 4 returns; Standard: $34.99, includes 8 returns; Premier, $74.99, includes 12 returns; and Home & Business, $119.99, includes 12 returns. What are the different versions […]

File your return no later than six months after the end of each tax year. The tax year of a corporation is its fiscal period. When the corporation’s tax year ends on the last day of a month, file the return by the last day of the sixth month after the end of the tax […]

What is Director’s Liability? In Canada, corporations are considered to be separate legal entities with their own assets and liabilities. It is a basic principle that employees, officers, and directors are not personally responsible for the debts incurred by their corporation. Can a director be personally liable for company debts? The legal structure of the […]

In 2021, an estimated 229 200 Canadians will be diagnosed with cancer and 84 600 will die from cancer. Lung, breast, colorectal and prostate cancers are expected to remain the most commonly diagnosed cancers, accounting for 46% of all diagnoses in 2021. What is the number 1 leading cause of cancer? Leading risk factors for […]

Norway’s population is 5 million; in Canada, there are about 350,000 people who claim their mother tongue as Norwegian. Many of these live in Manitoba or Saskatchewan provinces but there are also communities in British Columbia, Alberta, and Ontario provinces as well as Nova Scotia province. How many people speak Norwegian in Canada? Norwegian population […]