Category: Canada

One of the most important new inventions was the steam engine which could be used to power factory machinery, ships and locomotives. How did the Industrial Revolution change Canada? These changes took two forms in Canada, beginning in the 19th century. First, economic and social activities were transformed from agriculture and natural resource extraction to […]

Between 1945 and 1970, as Canada drew closer to the United States and other trading partners, the country enjoyed one of the strongest economies among industrialized nations. When did Canada have the best economy? In the early part of the nineteenth century, the economies of the Canadian Maritimes were the most industrialized, and prosperous in […]

When the measure was introduced in Canada about a century ago, the purpose was to protect women and children from being exploited. In 1918, the first minimum wage rates were established in Manitoba, followed by Saskatchewan and British Columbia. Why did Canada introduce minimum wage? History. Canada’s earliest minimum wage policies were legislated to protect […]

Parental benefits are paid for a maximum of 35 shared weeks plus 5 weeks of “daddy days”; paid within a year of the birth or adoption of the child. In 2022, the weekly benefit rate is 55% of the parent’s average weekly insurable earnings up to a maximum of $638 a week before taxes. How […]

To run payroll in Canada, you need a Business Number (BN) and payroll program account through the Canada Revenue Agency (CRA). A BN identifies your business to the federal government. It’s the business version of a Social Insurance Number (SIN). Can I manually do payroll? When you handle payroll on your own, you can either […]

Any withdrawals from your plan are subject to income tax in the year they are withdrawn. If you ask the Trustee in writing, they will redeem some of the bonds in your plan and pay to you the amount of money to reduce the amount of tax which would otherwise have to be paid under […]

While your money is in a Registered Retirement Savings Plan (RRSP), you don’t pay tax on what you earn – whether capital gains, interest or dividends. Do dividends count as income for RRSP? RRSP contribution room is calculated based on “earned income”, which includes salary but not dividend income. If your only source of income […]

Yes. Shares of a corporation are intangible property and will be specified foreign property if they are situated, deposited or held outside Canada. What is considered foreign property in Canada? What’s considered specified foreign property? According to the Canada Revenue Agency (CRA), specified foreign property includes: Bank accounts held abroad (interest) Debt securities and shares […]

Government of Canada Bonds offer attractive returns and are fully guaranteed by the federal government. They are available for terms of one to 30 years and like T-Bills, are essentially risk-free if held to maturity. They are considered the safest Canadian investment available with a term over one year. Is it worth it investing in […]

Yes, if you are buying US stocks in Canada, you will be subject to capital gains taxes on any profits made. You’ll be paying 15% withholding tax on dividends and 10% withholding tax on interest to the IRS. Is it worth buying US stocks in Canada? Risks of trading US stocks The biggest risk with […]