Personal Finance articles

Toronto and Vancouver most ‘vulnerable’ to interest rate hikes as personal debt soars, CMHC warns

Toronto and Vancouver most ‘vulnerable’ to interest rate hikes as personal debt soars, CMHC warns

Personal debt levels in Toronto and Vancouver continue to hit record-levels.Postmedia Network TORONTO — Canadians living in two of the country’s largest cities may find themselves more “vulnerable” to interest rate increases as personal debt levels in Toronto and Vancouver continue to hit record-levels, warns a report by Canada Mortgage Housing Corp. The housing agency

Canadians’ household debt burden creeps higher

Total credit market borrowing, however, slowed for the third consecutive quarter.Canadian Press OTTAWA — The amount Canadians owe relative to their income ticked higher in third quarter. Statistics Canada says household credit market debt as a proportion of disposable income was 177.5 per cent in the third quarter on a seasonally-adjusted basis. That compared with

Couple with $2.9 million in assets and no debt think they won’t be able to make ends meet in retirement

Situation: Couple in their late 50s with poor investments fears a financial squeeze in retirement Solution: Raise returns by selling real estate and improve their investment plans In British Columbia, a couple we’ll call Henry, who is 56, and Julia, who is 58, have complicated financial lives. Henry runs his own consulting company. It makes

Qualifying for disability tax credit an uphill battle for many amid spike in CRA rejections

In the 2016-17 fiscal year, 45,157 disability tax credit applications were rejected compared to 30,235 the previous year.Peter J. Thompson/National Post files One of the most valuable tax benefits for persons with disabilities is the disability tax credit (DTC), which can be worth between $1,500 to $2,700 of combined federal and provincial tax relief, depending

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