The CRA will be applying automatic interest relief on 2020 tax return balances until April 30th, 2022 if you meet the following criteria: Your total taxable income was $75,000 or less You received at least one of the pandemic relief benefits (CERB, CESB, CRB, EI, CRCB, CRSB) You filed your 2020 income tax If you… Read More
The You First Blog
Please note that this will be our final market update until early-May, when the April 30th tax filing deadline has passed. Myles Zyblock, Chief Investment Strategist at Dynamic Funds, has shared his market update for 2021 year-to-date. Please read on below. A New Sherriff’s in Town A seemingly endless wave of government stimulus and the… Read More
On Friday, the Federal Government announced plans to extend the Canada Recovery Benefit and Canada Recovery Caregiving Benefit by an additional 12 weeks. The existing CRB Benefit of $500 per week remains and the maximum claim period will increase from the 26 weeks to 38 weeks. In addition, the federal sickness benefit will expand from… Read More
Equity markets continue rising The Toronto S&P TSX Composite index has had a strong run over the last 2 weeks. It has posted daily gains in nine of the last 10 trading sessions and has risen 6.5% over that time and is up 5.89% year-to-date. The TSX closed Friday at an all-time high of 18,460.21…. Read More
This week saw the Toronto S&P TSX Composite index decline by the most it has in a week since October as investors’ concerns about the vaccine rollout weighed on markets. Markets south of the border saw increased volatility as a battle between Wall Street hedge funds and retail “do it yourself” investors raged. Several trouble… Read More
March 1, 2021 is the deadline for contributing to an RRSP for the 2020 tax year. Our office will send out multiple reminders between now and deadline day. Signing your contribution form is easier than ever. With our improved electronic consent procedure, you can now e-sign using your phone in as little as 30 seconds… Read More