Category: Canada

No more than 30% to 32% of your gross annual income should go to mortgage expenses, such as principal, interest, property taxes, heating costs and condo fees. Is mortgage 5 times your salary Canada? Generally speaking, the rule is that you can be approved for a mortgage for which your salary is about 20% to […]

It doesn’t matter if your hobby income is small because there is no threshold. When you file your Canadian income tax you must declare all of your income from all sources, including your hobby income. Do I need to declare income from a hobby? You’re not required to pay tax on hobbies, so if you […]

Source: Source: Original data from Canada Mortgage and Housing Corporation (CMHC) Average Scheduled Monthly Payments for New Mortgage Loans. Data for 2012 Q3 to 2020 Q3.The average new monthly mortgage repayment. Region Canada 2017 $1,392 2018 $1,457 2019 $1,450 2020 $1,474 How much does the average Canadian owe on their mortgage? Fascinating Canadian Debt Statistics […]

Historically, as population increased in Canada’s largest urban centres, housing supply could not keep up, driving up real estate and rental prices. As Canadians’ paychecks are unable to compete with the rising house and rent costs, many are turning towards smaller cities with even less housing supply. Does Canada have a housing problem? The CMHC […]

Some have asked “are teachers skilled workers?” and the answer is yes! Is teacher a skilled worker? Examples of university educated skilled labor include engineers, scientists, doctors and teachers, while examples of vocationally educated workers include crane operators, CDL truck drivers, machinists, drafters, plumbers, craftsmen, cooks and accountants. Can teachers apply for skilled worker visa? […]

Some reasons could include inactivity or low usage. Review your deposit account agreement for policies specific to your bank and your account. If you believe your account was wrongfully closed, you can file a written complaint with the Office of the Comptroller’s (OCC) Customer Assistance Group. Why would a bank close your account without reason? […]

The most common destination for the exports of Canada are United States ($264B), China ($19.3B), United Kingdom ($13.2B), Japan ($9.44B), and Mexico ($5.26B). What are the top 10 countries Canada exports to? Top 10 Export Countries Country Export USD$ United States $336,214,851,377 China $17,536,396,323 United Kingdom $14,928,056,269 Japan $9,515,970,981 Where does Canada export the most? […]

Mortgage rates are expected to rise over 2023, but it is just as likely that they can start dropping if the Bank of Canada (BoC) reaches its inflationary target sooner. Once the rates settle down, house prices will increase again, so it is not recommended to time the market if your goal is to buy […]

The Right to Own Property In Canada, all land is owned by the Crown and administered by the government. Private land owners are not owners at all, but mere tenants. Who owns the private land in Canada? The majority of all lands in Canada are held by governments as public land and are known as […]

The Canadian economy has an absolute advantage in agricultural goods relative to most other countries globally. This because land is relatively abundant in Canada, as well as low cost. China, Thailand, and Vietnam, on the other hand, produce and export low-cost manufactured goods. What is Canada’s comparative advantage? Canada is shown to have comparative advantage […]