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Why is Canada Keeping Out China’s Rich?

SOURCE: NATIONAL POST Masses of wealthy Chinese, their money huddled in less-than-secure foreign assets, are yearning to breathe the free air of Canadian capitalism. But Canada doesn’t seem to want them much. Brimming with the spoils of a historic economic expansion, Chinese millionaires by the tens of thousands wish to make Canada home for their families and their private wealth. The Canadian … [Read more...]

2012 Tax Filing Season: A Look At tax Filing Software

SOURCE: THE STAR You can save a lot of money by cutting out an accountant and using tax preparation software to do your own taxes this year. After years of using an accountant at a cost of anywhere between $100 and $300, I decided to file my own taxes last year using Turbo Tax. I found the experience to be easier than I thought it would be sespite having multiple income sources, deductions, … [Read more...]

Royal Bank, CIBC, TD and BMO Slash Mortgage Rates to 2.99%

SOURCE: THE STAR Four major Canadian banks have slashed their mortgage rates to 2.99 per cent – temporarily – in a bid to win more business as the housing market cools. Royal Bank of Canada was the latest to join the fray late Thursday, after Bank of Montreal fired the first salvo a day earlier by cutting the interest rate on a five-year fixed mortgage half a percentage point. CIBC and TD Canada … [Read more...]

Ah, The Good Old Days of Immigration

Source: Winnipeg Free Press On a cold January morning in 1968, my parents, Rey and Gloria Pagtakhan, arrived at Emerson to immigrate to Canada. About 12 weeks earlier, my father sent in their immigration application from St. Louis, Missouri, where he and my mother were going to school on visas from the Philippines. Instead of a visa confirming his immigration, my father was sent a telegram … [Read more...]

New Sponsorship Rules for Spouses

The Canadian government is imposing a five year sponsorship bar on those who migrate to the country under the Spousal Sponsorship stream, after being sponsored by their spouse or partner. The new regulation, which came into force Mar. 02, was announced by Citizenship and Immigration Minister Jason Kenney. Until now, a person immigrating to Canada after being sponsored by a spouse or partner … [Read more...]

How Home Closing Costs Can Add Up

Source: The Toronto Star/ Moneyville Home buyers are often advised to set aside one-to-three per cent of the purchase price of their house for closing costs.  These fees are explained during the home buying process, but it is helpful to ask questions so you fully understand how these costs can affect  your budget. Legal fees On average you should budget $600 to $900 for legal fees and an … [Read more...]

Canada Mulls Change to Citizenship-by-Birth Law

The Canadian government is considering changes to the current citizenship-by-birth principle, after reports of pregnant women coming to the country to get citizenship for their newborns. Citizenship and Immigration Minister Jason Kenney has been quoted as saying the government has been aware that pregnant women are coming to Canada as tourists for the sole purpose of giving birth to a child … [Read more...]

Paying Off Mortgage Early Can Cost

Source: The Toronto Star/Moneyville   Paying off your mortgage early seems like great financial planning since you’re freeing up money that can be put towards savings. But discharging a mortgage early can mean a prepayment penalty because the bank loses money. If you had a two-year term and paid the mortgage in full after 16 months, the bank is out eight months of interest. They charge … [Read more...]

Canadian Province Looks to Ireland to Fill Almost 300 Jobs | Irish News | IrishCentral

Source: Irish Central One of the most remote provinces in Canada is to seek almost 300 skilled workers in Ireland next month. The government of Saskatchewan and employers throughout the province will embark on a labour recruitment mission to Ireland in March. Premier Brad Wall and Advanced Education, Employment and Immigration Minister Rob Norris will participate in the trip to Dublin and … [Read more...]

Marriage on Your Mind for Immigration? Think Again

Source: Vancouver Sun Married newcomers to Canada better be in love or be prepared tough it out in the relationship for two years if they don't want to be kicked out of the country. Citizenship and Immigration Canada is changing Immigration and Refugee Protection Regulations to make a sponsored spouse stay in the relationship for at least two years once they receive permanent residence … [Read more...]

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