In Canada, a six-figure salary often ranges from $100,000 CAD to $999,000 CAD annually. And yes, some jobs pay that much. Canada is a country with a wide range of opportunities. Thriving industries with good jobs popping up in every city. The average annual income of Canadians is $55,000, according to Canada stats. Cities like Vancouver …
When a person writes a cheque to you, it is standard practice for you to endorse the back of the cheque before you deposit or cash it. Endorsing a cheque in Canada is straightforward as it only needs to include any further details in addition to signing your name. Providing this information allows the bank …
A little over a decade ago, you needed an agent to help you send money. This means you had to hand over the cash at an agent location, and the receiver also had to collect it from an agent at their end. However, with the advent of smartphones and the internet, sending money and making …
What is a Mobile Wallet? – How it works in Canada Read More »
CFA vs MBA is a long-raging debate in the finance circle. Whether you are a student or a seasoned professional in finance at all levels, you must have heard of these two academic qualifications. They are arguably the pinnacle of academic qualifications that can be attained by finance professionals and business managers. By definition, they …
In our world today, it is not surprising to find people having several income sources to complement their primary source of income. These secondary sources of income could be in Canada or outside Canada. If you are generating income outside Canada, there are taxes you must pay to the CRA and the foreign country. Nonetheless, …
The two biggest banks in Canada go head to head on this one, and it is sure going to be an interesting comparison. Comparing revenue, the Toronto-Dominion Bank or TD Bank comes out on top as the biggest dog in the yard with a net revenue earning C$11.89 billion in 2020, assets valued in 2019 …
Scotiabank mutual funds are known as Scotiafunds, and it’s a pooled investment product with investors partaking in the fund after investing their money. Apart from mutual funds, Scotiabank also has a collection of investment products that include exchange-traded funds and other investable products. Scotiabank is one of the Big Five Banks in Canada, and like …
If you own a business involved in Canada’s construction activities as your main income source and pay subcontractors for construction, you must report any amount paid or credited to the Canada Revenue Agency through the T5018 Statement of Contract Payments. So as a construction subcontractor in Canada, you might get a T5018: Statement of Contract …
Employees worldwide are entitled to some benefits, and these benefits differ from country to country. In Ontario, every employee is entitled to vacation pay regardless of how their wages are calculated. Every employer is obligated to make this payment to employees in their establishment. If you are an employee in Ontario or a job seeker, …
As a student enrolled at a designated educational institution in a qualifying program, you are entitled to receive a T2202. A T2202 is also known as a Tuition and Enrollment Certificate. Canadian colleges issue it, universities or other educational institutions verifying that a student enrolled in a program qualifies for the federal tuition, education, and …
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