Contribution rules for a popular tax shelter continue to perplex ordinary Canadians, despite a year-long information blitz by the Canada Revenue Agency and the big banks. The agency sent out almost 103,000 letters to holders of tax-free savings accounts this month warning they likely over-contributed in 2010 — and now must pay additional tax. That number is up sharply from the 72,000 letters issued on June 1 last year for…
Gold prices soared to new highs Friday, gaining as much as $59.40 US, or 3.3 per cent, to $1,881.40 US an ounce. Bullion for December delivery later gave up a large part of that, but still closed up $30.20 on the New York Mercantile Exchange at $1,852.20. The metal was headed for its seventh consecutive week of gains, the longest string of advances in almost four and half years. Investors…
Toronto taxpayers are facing a 35% tax hike unless there are job cuts to the city’s workforce, Mayor Rob Ford warned Friday. His administration can’t avoid penning pink slips if more staff does not start volunteering to take buyouts the mayor said on The Roundtable, with Sun News Network co-hosts Pat Bolland and Sue-Ann Levy, the Toronto Sun’s veteran city hall columnist. “I don’t know if we have a choice,”…
If you’ve been wondering which job sectors have been showing the biggest gains or the largest loses then you’re in luck because Statistics Canada has released their new numbers.