As we head into 2020, less people are working full-time jobs. In fact, almost half of Canadian millennials are now part of the gig economy. It’s the age of the freelancer, and with more and more people preferring (or needing) to work as independent contractors, it’s crucial that they know how to properly deal with their taxes. In Canada, employees of a company receive a T4 (Statement of Remuneration Paid) slip, showing the tax deductions … Read More
World’s Most Improved Currencies 2019
Currencies like the US dollar (USD) and the euro are strong because so many countries and investors continue to purchase them. Buyers pay attention to currencies that are likely to remain stable and have positive forecasts. Here’s a list of the 5 most improved currencies of 2019 (valued against the world’s most traded currency – the USD). *All exchange rates were sourced from Google Finance at the time of publication. Also, check out the World’s Strongest … Read More
5 Tips To Reduce Income Tax For Canadian Entrepreneurs
The end of 2019 is fast approaching – but you still have time to maximize your tax breaks! Unfortunately, trying to figure out exactly what you owe the government (or what they owe you) isn’t always a fun process. Here are 5 simple tips to help you save money, and ensure your tax bill is no more than it needs to be. Consider Incorporating Your Business Many sole proprietors incorporate because of tax breaks. In … Read More
World’s Weakest Currencies 2019
There are several factors that impact the value of a currency, but buyers are often the most prominent influencers. For example, the US dollar is strong because so many countries buy this currency. If investors and buyers were to stop buying US dollars, its value would drop significantly. More attention is paid to popular currencies that are likely to remain (relatively) stable. This provides a basis for forecasts and projections – not to mention higher … Read More
Canadian Banks vs Credit Unions
Are you currently banking with one of Canada’s “Big 5”? If so, there’s a strong chance that you’ve wondered about better alternatives. If you’ve already looked into switching banks, you probably noticed that none of them are particularly cheap – and they all seem to be constantly raising their fees. This is exactly why more and more Canadians are looking for alternative banking solutions. One of the most popular options is to use a credit … Read More
REMITR Guide: Why is the Value of the Pound Sterling in Free-Fall?
The value of the British Pound (GBP) has come under massive pressure against other major currencies such as the US Dollar and the Euro in July. On Monday July 29th, the pound, also known as the Pound Sterling, touched its lowest level in over two years against the US Dollar. This has taken the value of the currency to its lowest level in 28 months. On Tuesday July 30th, the pound continued to slide on … Read More
Scotiabank Business Bank Accounts: Everything you Need to Know
Opening a business bank account is one of the first things you should do when starting a business. Even if you’re running the smallest of businesses, it’s important to have a separate business bank account. This will help keep your business and personal expenses/income separate. Many small business and sole proprietorship companies shy away from opening a business bank account in order to avoid paying extra bank fees. In addition to this,having a business bank … Read More
The History of the Canadian Dollar and the Canadian Monetary System
Canada’s currency, the Canadian Dollar (CAD), is the sixth most traded currency worldwide – but how did it get to where it is now? When you consider the extensive, complex history of Canada, it comes as no surprise to learn that the story of its currency is no different. We’re here to outline the fascinating history of currency in Canada, from pre-European contact right up to the modern day Canada and the Canadian dollar. The … Read More
REMITR Guide: How to Open a Bank Account in Italy
Captivating scenery, incredible history and jaw-dropping beauty. It’s no surprise that Italy expels an intoxicating vibrancy that attracts migrants from all around the world. Thankfully, banking in Italy is just as wonderful as the country itself. Whether you’re an expat, investor, a student living abroad, Italy has a bank account for you. Unlike many countries, Italy has implemented regulations for the purpose of providing financial flexibility to suit all needs. Continue reading to learn more … Read More
CIBC Global Money Transfer Fees and How to Avoid Them
What is CIBC Global Money Transfer? CIBC Global Money Transfer is a service offered by one of Canada’s largest banks, the Canadian Imperial Bank of Commerce. Global Money Transfer is a platform offered by CIBC to its customers, which allows them to send money to 80 countries around the world. Customers can send money by signing in to their Online Banking or using the CIBC Mobile Banking App. Once customers have entered the required information … Read More