Leisure travel by Canadians is back to pre-pandemic levels — but not business trips. Here’s why

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Experts say high travel costs, corporate belt tightening and a recovering tourism industry are all factors that are dampening business travel in Canada.

Dayna Sabo started her job as the executive editor of a comics and gaming publication, CGMagazine, right in the middle of the pandemic.

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Source: BNNBloomberg - 🏆 83. / 50 Read more »

Strong Demand for Canada's First Home Savings Account from Young CanadiansTwo major banks in Canada are reporting strong demand for the newly launched First Home Savings Account (FHSA) from young Canadians who are saving for a down payment. The FHSA offers the combined tax benefits of a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA). However, the challenge lies in how to invest for a potentially short and shifting time horizon. Contributions in a FHSA can be invested in various options, but they must be ready to liquidate quickly when the account holder makes an offer on a home. Fixed maturities on bonds and guaranteed investment certificates (GICs), or equities during a market lull, could pose a problem. Despite this, the tax perks from a FHSA make it a good investment, even if the funds are kept in a high interest savings account. Contributions are tax deductible, and gains on investments are never taxed as long as the funds are used for the purchase of a first home. The tax savings depend on the performance of the investments, similar to RRSPs and TFSAs.
Source: BNNBloomberg - 🏆 83. / 50 Read more »