• It’s well-documented that the average sale price for detached homes in Toronto was $1.56 million in March, a staggering 33 per cent increase from a year earlier. It’s less talked about that the Greater Toronto Area’s 905 region was up 34 per cent, with detached homes selling for an average of $1.12-million.

    Joe from Milton, Ont., found out just how hot the market really was when he listed his house for $929,000 on free local classifieds site Kijiji without an agent, reports NEWSTALK 1010.

    “The time I listed it on Kijiji to the time I sold it was about 15 minutes,” Joe tells the radio station.

    Milton-based Joe thought he’d leave the listing up on Kijiji for a few months to see what kind of offers he’d get and how he could leverage them for more money. Instead, he got a desperate sounding note from a man almost immediately who wanted to see the house the same evening.

    Joe tried to put him off until the next day but the potential buyer insisted. He arrived at Joe’s door within 15 minutes,

    Read More »from Million-dollar Ontario home sells in 15 minutes on Kijiji
  • Taco Bell concept
    An image of Taco Bell’s new concept locations is seen here. (FTP Edelman)

    Yo quiero Taco Bell y una cerveza, por favor.

    Taco Bell Canada revealed its plans to serve alcoholic beverages at select locations across the country on Wednesday.

    The U.S. fast food chain said in a press release that the new drink options will be available beginning in June, with its flagship store in Toronto’s trendy Queen West neighbourhood expected to be the first to carry them.

    Taco Bell Canada said customers will initially only be able to buy beer, but there is the potential to add further alcoholic beverages to the menu.

    “Beer is something that goes well with Mexican food,” Amanda Clark, general manager of Taco Bell Canada, told the Financial Post.

    The franchise, which is known for its budget, Mexican-inspired cuisine, currently operates 170 locations in Canada but plans to increase that number to 700 over the next five to 10 years, according to the Financial Post.

    Clark said that most of the 11 locations

    Read More »from Taco Bell to start serving beer in Canada
  • Opening a bank account from outside the country is becoming easier

    It's now easier to open a bank account in Canada when you're overseas. (Getty)
    It’s now easier to open a bank account in Canada when you’re overseas. (Getty)

    Three years ago, opening a bank account in Canada was a nightmare for newcomers like Kim Hong, who moved from San Francisco to take a post at Vancouver-based financial technology company Trulioo.

    “I have 20 years of solid credit history in the U.S. but when I crossed that border and entered into Canada, all of a sudden all that history went away,” says Hong. Since she was staying at an Airbnb and didn’t have a proper lease agreement, Hong had to get a social insurance number in order to have a second piece of ID to open the account.

    “My passport was safe but they needed a second form of ID with an address on it and I had no utility bills, no lease agreement to give them… so I was kind of screwed,” she says. The whole process took nearly a month. “If the bank I went to in Canada could access my data in the U.S., they could certainly verify my identity quickly… they didn’t have that access.”

    But amended rules

    Read More »from Opening a bank account from outside the country is becoming easier
  • No dogs allowed? New symbol in Samsung Galaxy S8 puzzles users

    The battery for the Galaxy S8 has a symbol of a dog, which is confusing some users. (The Verge)
    The battery for the Galaxy S8 has a symbol of a dog, which is confusing some users. (The Verge)

    Last week, Samsung’s newest smartphone, the Galaxy S8, went on sale worldwide and was widely well-received.

    But when users started digging into the device, they noticed an unusual symbol on the battery and were perplexed by what it could mean.

    Don’t worry, it’s not preventing you from taking cute dog videos (thank goodness); it’s a warning from Samsung designed to help protect your pets.

    The average Galaxy S8 owner isn’t able to remove the battery, but in the event it is outside your phone, Samsung wants users to know that it shouldn’t be left within reach of a dog (or cat, or any other household pet) to chew on.

    The acid inside a battery can cause burns, irritation, loss of appetite, abdominal pain and

    Read More »from No dogs allowed? New symbol in Samsung Galaxy S8 puzzles users
  • Tax tips for separated and divorced parents

    If you've separated or divorced in the last tax year, the CRA wants to know. (Getty)
    If you’ve separated or divorced in the last tax year, the CRA wants to know. (Getty)

    When you first realize your marriage is ending, who do you tell? The kids, your family and your friends, right? Who’s missing from that list? The CRA, of course.

    The Canada Revenue Agency (CRA) wants to know who’s coming and going from your home, and they won’t even buy you a beer or let you cry on their shoulder.

    You should inform them of any change in marital status, but in the case of a marital (including common-law) breakdown, wait until you’ve been separated for 90 days.

    A lower household income should mean increased benefits such as a GST/HST credit child and provincial tax benefits, so there’s no financial benefit to wait. Here are a few tax issues that you’ll need to consider if you’re newly single.

    What does “separated” mean?

    It depends on who you ask. A divorce lawyer may tell you that you can be separated even if you live in the same dwelling — while you’re trying to sell the family home,

    Read More »from Tax tips for separated and divorced parents
  • How to protect yourself against tax season scams

    (CBC.ca)

    Forty per cent of all Canadians have not yet filed their taxes, even with the May 1 deadline less than two weeks away. If you’re in the procrastinator group, the Canada Revenue Agency has published a list of red-flag scenarios to watch out for when receiving tax-related communication, particularly when it asks for payment. Here’s how to recognize and protect yourself against financial fraud.

    You will never receive an email from the CRA containing links to visit a website where you’re asked to verify your identity by entering personal information

    “You may get an email with an official CRA logo on it and it looks legitimate,” says CRA Communications Manager Paul Murphy. “It asks you to click on a link because we’ve got a refund for you and asks for your social insurance number, personal financial information, credit card number that kind of thing. If you do get a refund, you’ll get something in the mail — we’re not going to send you an email with a link to click.”

    There is only

    Read More »from How to protect yourself against tax season scams
  • McDonald’s goes haute couture with designer uniforms

    McDonald's
    Courtesy McDonald’s

    Just weeks after McDonald’s Australia announced it wanted job applications via SnapChat, the U.S. branch of the fast-good giant revealed that the outfits of approximately 850,000 McDonald’s restaurant employees were getting a designer makeover. In fact, they’re getting two.

    In collaboration with designers Waraire Boswell and Bindu Rivas, McDonald’s USA crewmembers will get to choose between two contemporary uniform collections: WARAIRE for McDonald’s and Timeless Elements, for crew members and managers. These new collections, scheduled to debut in the U.S. in April, will be available to all 14,000 restaurants.

    McDonald's
    Lovin’ that drive-thru life

    The monochromatic grey on grey uniforms are a departure from the bright colours traditionally worn by restaurant staff. Celebrity outfitter Boswell, whose clients include Will Smith, Ellen DeGeneres, Pharrell Williams, LeBron James and Kobe Bryant among others, has said that as a former McDonald’s crew member in Pasadena, Calif., he

    Read More »from McDonald’s goes haute couture with designer uniforms
  • Google's Canadian engineering headquarters in Kitchener-Waterloo, Ontario seen on January 14, 2016. (Reuters)
    Google’s Canadian engineering headquarters in Kitchener-Waterloo, Ontario seen on January 14, 2016. (Reuters)

    U.S. President Donald Trump signed an executive order this week asking Congress to review the process granting H1-B work visas.

    The move potentially halts America’s tech companies (Google, Amazon, Facebook, etc.) from expanding, as they rely on these workers for skills such as coding and won’t be able to hire the world’s best and brightest in the numbers they need.

    “Technology companies everywhere know that their success relies on their people, and to compete globally they need to attract the best. The H-1B visa in the U.S., similar to Canada’s temporary foreign worker program, lets American companies bring in best and the brightest from around the world – many of which are Canadian,” says Robert Watson, president and CEO of the Information Technology Association of Canada, the national voice of the information and communication technology industry in Canada for over 60 years.

    Read More »from Tech firms look to Canada in light of Trump H1-B visa reform
  • Cookies shaped like marijuana leafs are pictured at the Cannabis Carnivalus 4/20 event in Seattle, Washington April 20, 2014. (Reuters)
    Cookies shaped like marijuana leafs are pictured at the Cannabis Carnivalus 4/20 event in Seattle, Washington April 20, 2014. (Reuters)

    When Canada’s federal government released details regarding proposed legislation meant to legalize the recreational use of marijuana, the regulation of edibles was decidedly absent, despite their popularity and profitability in other jurisdictions where recreational use is already legal.

    According to BDS Analytics, a leading cannabis industry data firm, edible sales in Colorado more than tripled between 2014 and 2016, vastly outpacing traditional marijuana flower sales, which fell from 70 per cent of the market in 2014 to 56 per cent in 2016. Conversely, edibles sales grew from 11 per cent to 14 per cent over the same period, which translates to growth from $17 million to $53 million. The Marijuana Business Factbook 2016 estimates that edibles make up 30 per cent of the total U.S. market, with many retailers reporting that edibles and concentrates have

    Read More »from Canada's marijuana legislation takes a bite out of edibles market
  • Expenses you may think are tax deductible but aren’t

    Expenses that many taxpayers think are tax deductible but actually aren’t
    Tax forms and Canadian currency are shown together in a photo illustration taken in Toronto on Sunday, April 3, 2016. (THE CANADIAN PRESS/Graeme Roy)

    It’s likely an accountant’s worst nightmare: A client walks into the office carrying bags that are bursting at the seams from both the crumpled receipts they contain and the wishful thinking that these expenses will be tax deductible.

    While this may be an exaggeration, there are plenty of claims that many taxpayers believe are eligible for tax deductions but simply do not qualify.

    Here’s a look at these misconceptions, according to two experts from the field:

    Medical expenses

    Jamie Golombek, managing director of tax and estate planning with CIBC, told Yahoo Finance Canada that medical bills are the most commonly denied expense, as taxpayers often try to claim the costs of vitamins, supplements, bandages, shoe inserts and over-the-counter medicines.

    “They just don’t qualify,” he said.

    “There’s a very specific list of medical expenses that

    Read More »from Expenses you may think are tax deductible but aren’t
  • People observe marijuana plants while visiting the
    People observe marijuana plants while visiting the “Expo Cannabis” forum in Montevideo, December 5, 2015. (Reuters)

    The Liberal government’s recently tabled cannabis law will allow adults to grow up to four cannabis plants less than a meter in height per residence. But the bill, which had its first reading last week, is sure to raise some logistical questions when it comes to home insurance.

    “There’s a whole host of potential issues especially with the growth of marijuana that we’ve seen across Canada,” says Pete Karageorgos, director of consumer and industry relations at the Insurance Bureau of Canada. “Hopefully the legislation will set some (rules) out in terms of requirements and responsibilities as well.”

    If the bill receives royal assent, he suspects insurers will need to “review and explore” the effects of growing marijuana plants in the home.

    “A home is designed to be lived in, it’s not necessarily designed to have a grow-op created in it,” says Karageorgos. “You could have

    Read More »from Home marijuana growers present new challenges for insurance companies
  • Bill offers new protections for temporary workers in Ontario

    The new bill will better protect workers who are at a job for longer than six months. (Getty)
    The new bill would better protect workers who are at a job for longer than six months. (Getty)

    NDP deputy leader and Ontario MPP Jagmeet Singh has presented a Private Member’s Motion to the Legislative Assembly of Ontario calling for stronger protections for temporary job agency workers.

    “Far too many workers in Ontario are unable to find good quality, permanent employment, and many end up in precarious work through temporary job agencies,” said Singh. Over 700,000 Ontarians find work through temp agencies, some of which are known to take up to 50 per cent of temp workers salaries for themselves. “We must commit to protecting workers employed through these agencies, and ensure that they are receiving equal pay for equal work.”

    Singh’s proposal looks to ensure temp employees are paid the equivalent of their colleagues, eliminate the fees charged by staffing agencies and ban “temporary” assignments that turn into long-term gigs.

    The motion responds to the growing use of temp agencies by

    Read More »from Bill offers new protections for temporary workers in Ontario
  • Got a loonie? Bid on this fully detached Toronto house

    This house on Park Lawn Road in Toronto was listed for just $1. (Realtor.ca)
    This house on Park Lawn Road in Toronto was listed for just $1. (Realtor.ca)

    Got a loonie in your pocket? That’s all you need to bid on this detached home in one of Canada’s hottest real estate markets.

    Okay, okay — not really. Even though this Park Lawn Rd. detached home was listed at $1 this week, it’s virtually impossible for the home to actually sell for $1.

    The two-bedroom, two-bathroom home in the Toronto suburb of Etobicoke is described in the listing as “livable” and ideal for investors and contractors. No images of the inside are included with the listing, but it does have blueprints for the home’s interior.

    It does include all light fixtures, a stove, refrigerator, washer and dryer, and is available for showings seven days a week.

    A quick search on MLS listings site Realtor.ca shows that this isn’t the only home listed for $1 in the area, either; two listings in Milton, Ont. (one home and one vacant lot) are also on the market right now for less than the price of a cup of

    Read More »from Got a loonie? Bid on this fully detached Toronto house
  • Vancouver is still the most expensive city to rent in right now

    Apartment buildings in Vancouver, B.C. (Robert Ashworth/Flickr)
    Apartment buildings in Vancouver, B.C. (Robert Ashworth/Flickr)

    The price for a one-bedroom apartment rental in many of Canada’s most populous cities went up this month, although not as dramatically as home sale prices.

    In rental listing website PadMapper’s monthly Canadian Rent Report, 25 Canadian cities were analyzed based on the average rates for one bedroom and two bedroom apartments.

    Interestingly, prices remained largely unchanged in Canada’s most expensive rental market, Vancouver, B.C. The price for a one-bedroom apartment stayed at $1,900, while the price of a two-bedroom rose slightly by 2.2 per cent to $3,200.

    In Toronto, prices were up slightly, but not as dramatically as may have been feared. Earlier this month, a report from real estate consulting firm Urbanation showed that while there were some high-profile cases of tenants seeing their rent double, most condo renters actually saw a drop in the average rental price of a condo unit. In a month-to-month comparison, April

    Read More »from Vancouver is still the most expensive city to rent in right now
  • Delta has upped its compensation on overbooked flights, but there’s a catch
    In this Saturday, April 6, 2013, file photo, a Delta Airlines jet flies past the company’s billboard at Citi Field, in New York. (AP Photo/Mark Lennihan, File)

    In an effort to distance itself from United Airlines in the wake of the scandal that erupted after a passenger was forcibly removed from one its planes, Delta has upped its compensation for seats on overbook flights to nearly US$10,000.

    But there’s a catch: The money it gives to customers in exchange for these spots likely won’t be in cash.

    According to Quartz, Delta gave an average of $9 in cash or cheques to its passengers who were denied boarding last year.

    That figure includes both passengers who volunteered and those who were selected to give up their seats if no one came forward.

    Of just the passengers who volunteered to give up their seats, the payday is actually worse. According to Quartz, Delta provided an average of $0.08 to passengers who willingly gave up their seats on overbooked flights.

    In fact, among U.S.

    Read More »from Delta has upped its compensation on overbooked flights, but there’s a catch
  • April travel deals for Canadians to jump on now

    Get ready to get away with this month's roundup of hot travel destinations. (Getty)
    Get ready to get away with this month’s roundup of hot travel destinations. (Getty)

    Spring has sprung and so have these April travel deals. Unlike many savings that come and go in 24 hours, these travel deals will allow you enough time to find someone to go with, book off work and decide if you should take the kids out of school or arrange for childcare while you’re away.

    These deals range from a luxurious, all-inclusive resort in Jamaica to several bustling U.S. cities, to a famous and charming Canadian town. So choose your favourite destination and get ready to relax on the beach, try new foods, meet new people and learn about other cultures.

    A scene from 'Anne & Gilbert: The Musical' (Facebook)
    A scene from ‘Anne & Gilbert: The Musical’ (Facebook)

    The Deal: The Anne of Green Gables Package – Charlottetown, Prince Edward Island

    Savings: Tickets to four attractions for one price – $47.97 plus taxes and fees. To order tickets through Ticket Pro click here.

    The Details: The Anne of Green Gables package includes tickets for “Anne and Gilbert:

    Read More »from April travel deals for Canadians to jump on now
  • Royal Bank president David McKay speaks at the Royal Bank of Canada annual meeting in Toronto on Thursday, April 6, 2017. THE CANADIAN PRESS/Frank Gunn
    Royal Bank president David McKay speaks at the Royal Bank of Canada annual meeting in Toronto on Thursday, April 6, 2017. THE CANADIAN PRESS/Frank Gunn

    The term “housing bubble” has been thrown around for years now by experts, pundits and every self-professed “expert” on social media who claims a crash is looming.

    The Toronto Real Estate Board reported that the average property in the Greater Toronto Area (GTA) was $916,567 in March, an increase of 33.2 per cent over the same period last year.

    Speaking at RBC’s annual shareholder meeting in Toronto recently, Dave McKay, the bank’s President and CEO, raised alarm bells about Canada’s real estate market. “I’m increasingly concerned by the unhealthy combination of factors that have driven the market to the current point of strain,” he said.

    What’s the problem? 

    McKay listed persistent supply and demand imbalances in the greater Toronto and Vancouver areas, low interest rates, and speculative activity as reasons for a growing problem in

    Read More »from What a 'multi-faceted solution' for cooling the real estate market means
  • Legalized marijuana could funnel $675M annually in federal, provincial coffers
    A woman smokes a joint during the annual 420 marijuana rally on Parliament hill on Wednesday, April 20, 2016 in Ottawa. (THE CANADIAN PRESS/Justin Tang)

    A new report indicates that if marijuana is taxed effectively it could discourage use of the black market and add hundreds of millions of dollars to federal and provincial coffers each year.

    In an open letter addressed to Federal Justice Minister Bill Blair earlier this week, Rosalie Wyonch, a policy analyst at the C.D. Howe Institute, wrote that the government must carefully navigate the line between public health concerns and revenue generation.

    Because of the presence of a “prolific black market,” Wyonch said the federal government is in a position to choose either a “regulated market or large revenue generation, but not both.”

    “If the government taxes marijuana heavily, it will ensure the continuation of the black market and will be undermining its efforts to control the substance,” said Wyonch.

    “If the tax rates are very low,

    Read More »from Legalized marijuana could funnel $675M annually into federal, provincial coffers
  • People walk at the United Airlines terminal at the Newark Liberty International Airport in New Jersey, July 8, 2015. (Reuters)
    People walk at the United Airlines terminal at the Newark Liberty International Airport in New Jersey, July 8, 2015. (Reuters)

    The recent United Airlines incident-turned-public-relations-nightmare where a passenger was yanked from their seat after refusing to deplane is yet another reality check in a growing disconnect between airlines and their passengers.

    “Every airline has some sort of protocol when it comes to having to bump passengers… (a) priority list,” explains Fred Lazar, an aviation analyst, and professor at the Schulich School of Business. “The bottom of the list is going to be people that aren’t members of a loyalty program that have bought the cheapest discount seat and haven’t paid for a seat assignment in advance.”

    But the truth is, in today’s unbundled airline industry where passengers are looking for the cheapest fares and then pay extra for things like seat selection, extra leg room or baggage as needed, the hidden cost is they’re not necessarily guaranteed a spot on

    Read More »from Airline overbooking: How the cost of your ticket can influence whether you'll be bumped
  • How gas prices are set

    An Esso gas station displays gas prices in Toronto, June 23, 2014. (Reuters)
    An Esso gas station displays gas prices in Toronto, June 23, 2014. (Reuters)

    There are a lot of things about the fossil fuel industry that are difficult to understand.
    It all starts with the fact that oil is priced by the barrel. What the heck is a barrel? I know a litre, and can probably figure out a gallon, but it seems to me that pricing oil by the barrel is like if they priced gold by the handful. Sometimes it seems as if there’s a secret club whose goal is to keep the rest of us confused (and I’m not talking about OPEC).

    But the more pressing question is, why do gasoline prices seem to rise and fall of their own accord, with no obvious reason? On Wednesday, gas prices rose by 6 cents a litre in Toronto and 15 cents a litre in Montreal who can we blame for that?

    Not only can gas vary by city, but also between stations, prompting people to fill up at the Costco station that’s cheaper than the Esso down the street. It’s enough to have drivers scratching their heads, wondering how

    Read More »from How gas prices are set
  • A vendor sells pot as thousands of people gather at 4/20 celebrations on April 20, 2016 at Sunset Beach in Vancouver, Canada. (Getty)
    A vendor sells pot as thousands of people gather at 4/20 celebrations on April 20, 2016 at Sunset Beach in Vancouver, Canada. (Getty)

    Marijuana law reform is set to get a boost this week with the Federal government releasing the official legislation on recreational use but the medicinal side got a lift of its own with Loblaw’s announcement to cover prescription cannabis through the employee health benefits plan.

    The move could trickle down to other Canadian employers and their benefit plans and even set a precedent, says Paul Grootendorst, an expert on insurance and reimbursement and director of the division of social and administrative pharmacy in the Leslie Dan Faculty of Pharmacy at the University of Toronto.

    “If other companies are followers and they want to make sure the benefits package is competitive with a rival, they may themselves elect to start covering this,” he says. “This could be a pretty big deal in terms of getting the ball rolling.”

    Both the grocery giant Loblaws and

    Read More »from Loblaw's medical marijuana coverage sets precedent for insurance industry
  • Canadians uncomfortable with prospect of free-trade deal with China
    Canadian Prime Minister Justin Trudeau, left, introduces Chinese Premier Li Keqiang after speaking to a business luncheon Friday, September 23, 2016 in Montreal. (THE CANADIAN PRESS/Ryan Remiorz)

    With the collapse of the Trans-Pacific Partnership and the potential renegotiation of the North American Trade Agreement looming, the Liberal government is exploring how it could ramp up its relations with China.

    However, according to new data, Canadians are uncertain of a potential arrangement with the Asian superpower.

    The Nanos Research survey, which polled 1,000 Canadians between April 1-4 on behalf of The Globe and Mail, found that 90 per cent of respondents did not want China’s state-owned companies to have unrestricted access to Canada’s economy.

    Furthermore, 88 per cent were uncomfortable or somewhat uncomfortable with the idea of a free-trade deal if it would allow these Chinese enterprises to buy up Canadian tech firms and remove limitations on investment in Alberta’s oil sands.

    Read More »from Canadians uncomfortable with prospect of free-trade deal with China
  • Why tax protesters are getting it all wrong

    Why tax protesters are getting it all wrong
    Canadian tax form. (Getty Images)

    Last summer, Russell Porisky was sentenced to five-and-a-half years in jail and fined nearly $260,000 for tax evasion and counselling others on how to do the same.

    The B.C.-based anti-tax crusader is the founder of the Paradigm Education Group, which sold a variety of material and offered seminars on the subject of avoiding income taxes.

    Despite Porisky’s sentencing and fines imposed on his other disciples, tax protests remain a prominent an issue in Canada.

    According to Lindsay Tedds, associate professor at the University of Victoria who focuses on tax policy, the theory propagated by the Paradigm Education Group is currently the rationale that is in vogue among tax protesters, but is part of a continuing evolution of ways Canadians who simply don’t want to pay taxes, validate their stance.

    “All of these cases, it almost feels like these individuals — these people that are so out there — they’ll try to glom onto anything to try to get out of doing

    Read More »from Why tax protesters are getting it all wrong
  • Rain to blame for lettuce shortages in Canada

    Mexican agricultural workers cultivate romaine lettuce on a farm on October 8, 2013 in Holtville, California. (Photo by John Moore/Getty Images)
    Mexican agricultural workers cultivate romaine lettuce on a farm on October 8, 2013 in Holtville, California. (Photo by John Moore/Getty Images)

    If you’ve been pining for some leafy greens but have been unable to track them down, you’re not alone: some stores in Canada are posting signs reporting that their normal lettuce supply has been interrupted.

    The reason for this lack of lettuce: Heavy rains in California.

    “All the rains they’ve had, there have been issues with quality, with leaf lettuce having bugs and mildew because of all the moisture,” Mohammad Nazari, the purchasing and sales manager at J.E. Russell Produce Ltd. in Toronto, told CTV News.

    “…They’re not shipping it out if it has quality issues. So it’s created a real … shortage that has been building and going on for about a month and half now.”

    Lettuce — including romaine, iceberg and even packaged salads — isn’t the only produce getting hurt by heavy rains, either. Almond production slowed in late March, as the downpours

    Read More »from Rain to blame for lettuce shortages in Canada
  • : Canadian business executives ‘extraordinarily ambivalent’ about Trump administration
    Prime Minister Justin Trudeau meets with US President Donald Trump in the Oval Office of the White House in Washington, DC on Monday, Feb. 13, 2017. (THE CANADIAN PRESS/Sean Kilpatrick)

    Despite believing that U.S. President Donald Trump’s policies could help their businesses, Canadian executives are “extraordinarily ambivalent” about his administration.

    The findings come from the C-Suite Quarterly Survey, which interviewed 156 executives from the country’s top 1,000 most profitable companies between February 27 and March 24 on behalf of KPMG.

    When asked about the economic impact of the Trump presidency, the respondents seemed largely optimistic about its direction so far.

    Seven out of 10 said they expect businesses to “benefit at least somewhat” from the administration’s policies.

    Furthermore, most executives said they believe the Toronto Stock Exchange will be “buoyed” by a Trump effect.

    A large number of them cited lower corporate taxes, deregulation, infrastructure investment and the

    Read More »from Canadian executives ‘extraordinarily ambivalent’ about Trump administration: survey
  • You've been selected for a CRA tax audit. Now what?

    Sign for the Canada Revenue Agency (Lars Hagberg/Canadian Press)
    (Lars Hagberg/Canadian Press)

    In March, we told you what to do to make sure you don’t get audited this tax season. Maybe you listened, maybe not. Either way, here’s what happens when you actually get audited.

    What exactly is a tax audit? 

    During an audit, the Canada Revenue Agency (CRA) closely examines books and records of small and medium-sized businesses to make sure they’ve filled out their returns correctly and applied the law appropriately. Under the Income Tax Act, you can be audited at any time in cases of fraud or misrepresentation, or at any time up to four years after the date of mailing the original assessment.

    But it’s not how it looks in movies. An auditor from Canada Revenue Agency isn’t going to come to your house. In the extremely unlikely event that he or she does, you don’t have to talk to them.

    “I have never seen an auditor just appear out of the blue. They can’t show up at a dwelling … and enter without a person’s consent,” says John Sorensen, a partner at law firm

    Read More »from You've been selected for a CRA tax audit. Now what?
  • Sears Canada to open pop-up shop in Toronto’s Queen West neighbourhood
    In this Wednesday, March 22, 2017, photo, shoppers exit a Sears department store at the Tri-County Mall, in Springdale, Ohio.
    (AP Photo/John Minchillo)

    In recent years, Queen Street West has become associated with Toronto’s creatives and ultra-hip, with the New York Times going as far to say it’s a neighbourhood “like no other.”

    But that was 2014. And this edge continues to fade as corporate giants such as Aritzia, Lululemon, H&M and now Sears Canada try to cash in on its appeal.

    The struggling department store, which isn’t exactly known for being fashion-forward, is set to open a pop-store in the area this weekend.

    “This pop-up shop shows the savvy, fashionable and cost-conscious urban Toronto shopper that we are a hot new destination with great-quality merchandise and amazing prices,” Brandon Stranzl, executive chairman of Sears Canada, said in a press release.

    “Some Torontonians have never experienced Sears Canada, and can now re-discover us and experience the wow.”

    Sears Canada is

    Read More »from 'Too little too late': Sears Canada to open pop-up in Toronto’s Queen West
  • Are Canadians being mistreated by wireless carriers?

    (Jhaymesisviphotography/Creative Commons)

    What’s your biggest gripe when it comes to cellphone service in Canada?

    “Misleading information” and “Non-disclosure of terms” are listed the top complaint in a mid-year report by the Commissioner for Complaints for Telecommunications Services (CCTS).

    The second most common complaint noted is “Incorrect charge.”

    According to a 2016 CRTC study, Canada won a gold prize — in the category of most expensive low-end wireless telephone service. It also won silver prize for premium mobile phone services that include more minutes and data.

    Have you been there? Yahoo Finance wants to hear from you. Tell us where you live, why your cellphone experience was the absolute worst, and what needs to change. 

    Read More »from Are Canadians being mistreated by wireless carriers?
  • Uber driver Glen Snower sits in a BYD e6 electric car in Chicago, Illinois March 18, 2015. (REUTERS/Jim Young)
    Uber driver Glen Snower sits in a BYD e6 electric car in Chicago, Illinois March 18, 2015. (REUTERS/Jim Young)

    Many Canadians who participate in the sharing economy seem to be under the impression they don’t have to pay their fair share of taxes from their side hustle income.

    Valorie Elgar, a tax expert with H&R Block, says she has met many Canadians confused about whether they have to declare income to the Canada Revenue Agency (CRA) from side hustles, such as being an Airbnb host, an Uber driver, or an Etsy creator.

    “All of your work is taxable,” clarified Elgar in a recent phone interview with Yahoo Canada Finance. “Any income should be reported on your tax return.”

    Do not try to hide any income from the CRA, warns Elgar, adding “they’re always on the lookout.” If (or more likely, when) the CRA finds out you have failed to declare income you could be fined 10 per cent of that previously undeclared income, said the tax expert.

    There’s no need to fear the CRA as long you declare all of

    Read More »from Drive for Uber? How to declare your side hustle income at tax time
  • A customer shops inside a Costco Wholesale Corp. store in Miami, Florida. (Scott McIntyre/Bloomberg/Getty Images/CNBC)
    A customer shops inside a Costco Wholesale Corp. store in Miami, Florida. (Scott McIntyre/Bloomberg/Getty Images/CNBC)

    The popularity of wholesale retailer Costco is undeniable, especially if you’ve ever been fighting for parking outside one on a Saturday, or attended a Costco-themed birthday party.

    But all that popularity also means that the original purpose, a wholesaler for small businesses, has been diluted by the addition of other items in stores, like clothing, Christmas decorations and a snack bar.

    On Friday, Costco returned to its roots with the launch of Costco Business Centre in Scarborough, Ont. the first of what the retailer intends to be several cross-Canada locations catering to small business purchasing needs. The 127,000 square-foot facility has different operating hours than its other stores in order to better serve its targeted customers and offers delivery in a 24 km-radius of the store.

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