What or who do you rely on to earn an income?

YOU ARE YOUR INCOME SOURCE   We all need to earn an income to survive in this crazy world. Many people jump in their vehicle or rely on other community services in the morning to go to work. Typical day… maybe. What would happen if there was no more bus service or our vehicle stopped running? I never gave much thought about who or what I rely on to earn an income until this past week. I think plenty of people worry more about whether they will keep their job over how they will get to their job and other so-called slight factors that would cause an impeding problem to their income. To call them slight would be a huge mistake. Many of us live life similar to everyone else who gets up in the morning, eats breakfast, showers, sorts the family out and is off to work. Of course depending on your work schedule that might not be the way it rolls in your household but you know what I mean. I remember posting that when my wife and I bought a house we bought it on one income so we had almost a free income to work with […]

For the cost of a stamp a disability tax credits application cost one couple $1629

TAKE TIME TO DO RESEARCH   Applying for the Revenue Canada disability tax credit certificate was something I did to help our friends’ parents who paid more than they needed to. When someone doesn’t know how to do something they normally do research or call in the professionals to help them. Often you hear stories about how people were taken advantage of or how they paid far too much for a service they could have easily done themselves.   Over-priced services   My friends’ mother had not realized that she could claim disability tax credits until it was mentioned to her by her daughter. She wanted to claim for the 10 years previous so she could claim at least some of the money she had over-paid the government while working and looking after her very ill husband. Her mother had already tried accessing disability tax credits through a company that advertised online and charged her $1300 for the service to no avail. It reminded me of the time when my wife and I were filling out the immigration forms to become a permanent resident in Canada. You could hire a representative to complete the forms which you would need to […]

Can you afford to take a full day off from work?

PAYING THE BILLS TAKES MONEY   In order to take a full day off from work for most people that means an entire day’s loss of income. That can be tough for any budget but there are times when it must be done. Unless your employer has provided you with stellar benefits or a contract that states your days off are paid sick days you might be shaking your head, no you can’t afford to take a full day off. You may say, yes you can afford to take a full day off because you have money saved up in the event that you need to take a day off and it won’t affect your budget too much. That’s great. Some employees are lucky they can carry over their sick days, bank them or get paid out for them but you must read the provisions of your contract with your employer to know what is covered. If you are not sure contact your human resources department or your benefits company for a more in-depth explanation. It’s better to know rather than to guess.   Full day off   Not everyone can afford to take a full day off from work […]

Free Trade Agreement: Planning for a stronger Canada

WHO CUT THE CHEESE PRICE?   The Free Trade agreement in principle was recently signed between Canada and the European Union.  It was hailed as a significant step to boosting the economy of Canada while having minimal negative impact for Canadians. Free trade   So what is a Free Trade Agreement?  Essentially it eliminates tariffs or taxes on cross border imports/exports making it easier for companies to trade products and/or services with neighbouring countries. It’s not just as simple as that though, there has to be limits or quotas set where each trading partner agrees to a set level. Depending on what the country exports or imports the most can determine what is set in the quotas. So for instance Canada has a lot of trees and the US needs to build a lot of houses, it would be in both of their interests to eliminate the tariffs on trees for, let’s say the first 100,000 tonnes. Anything past the 100,000 tonnes then tariffs will be applied so companies would have to budget their exports in order to keep with-in the quota. That’s great for Canada, they’re selling trees like they’re going out of fashion, but what’s the US getting out of the deal? They put […]

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