With December right around the corner, it’s the perfect time to start preparing for your 2024 tax return. While taxes aren’t due until April 2025, Canadians should begin tracking eligible expenses and benefits that can help lower their tax liability for 2024. Below, we’ll highlight three tax breaks offered by the Canada Revenue Agency (CRA) Continue reading
Emily Houston
$1,200 + $1,200 Extra OAS Deposit for Seniors: Eligibility & Payment Dates
As of 2024, Canadian seniors may see a significant increase in their Old Age Security (OAS) payments due to additional government support. This extra deposit is part of the government’s ongoing efforts to provide financial relief to seniors amidst rising living costs. Let’s break down what this $1,200 bonus means, who qualifies, and when seniors Continue reading
Canada to Invest Billions in Expanding Domestic AI Compute Infrastructure
Compute is the backbone of artificial intelligence (AI). It powers the vast data processing and complex algorithms that drive AI advancements. In Canada, the need for cutting-edge AI infrastructure is critical to maintaining its leadership in the global AI ecosystem. The Canadian government is committed to ensuring that businesses, researchers, and innovators have access to Continue reading
4 New Pathways to Permanent Residency in Canada Set to Launch in 2025
Canada is preparing to introduce four new permanent residency (PR) pathways in 2025, despite the reduction in annual immigration targets. These programs, designed to address labor shortages, promote linguistic diversity, and meet the caregiving and economic needs of local communities, mark a significant shift in Canada’s immigration strategy. In this article, we’ll explore these new Continue reading
Toronto Housing Market Sees Turning Point After October Rate Cut, Experts Say
the Greater Toronto Area (GTA) experienced a significant jump in home sales, continuing a trend seen across major cities like Vancouver. According to the Toronto Regional Real Estate Board (TRREB), 5,875 homes were sold in November, a 40.1% increase from 4,194 in the same month the previous year. This surge in sales comes as buyers Continue reading
The CRA Is Monitoring TFSA Holders: Key Red Flags to Watch Out For
Navigating the Canada Revenue Agency’s (CRA) guidelines for Tax-Free Savings Accounts (TFSAs) can feel like tiptoeing through a minefield. But fear not! With a bit of savvy investing and awareness of potential pitfalls, you can keep your TFSA in the CRA’s good books. Let’s explore some common red flags and how to sidestep them, with Continue reading
Latest IRCC Processing Times for December 2024
As Canada remains one of the most popular immigration destinations worldwide, understanding the current processing times for immigration applications is essential for anyone looking to move. Whether you’re applying for Canadian citizenship, renewing your Permanent Resident (PR) card, or seeking temporary residency, it’s crucial to stay informed about the latest updates from Immigration, Refugees and Continue reading
Step-by-Step Guide to Extending Your Canada Work Permit
If you’re working in Canada and your work permit is nearing its expiration, it’s crucial to understand the process for extending your permit or amending its conditions. Applying on time ensures you can legally stay and work in Canada while your new permit is being processed. This comprehensive guide covers everything you need to know, Continue reading
Canada’s Challenges in Removing All Illegal Foreign Nationals
The rise in out-of-status foreign nationals in Canada has created a multifaceted challenge involving legal, economic, and humanitarian aspects. With thousands living in limbo, questions remain about whether removing all these individuals is feasible. Understanding “Out of Status” in Canada An individual becomes “out of status” when they lose legal permission to remain in Canada. Continue reading
Canada Increases Immigration Fees for Temporary Residents Starting December 1, 2024
Immigration, Refugees, and Citizenship Canada (IRCC) has revised the fee structure for several temporary resident applications. Effective December 1, 2024, applicants will see a fee increase ranging from 2.80% to 4.69%. These adjustments will affect individuals applying to restore their temporary resident status, return to Canada after inadmissibility, or seek temporary resident permits. Here’s everything Continue reading