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Byline: ERICA ALINI; Staff The maximum interest rate that creditors can legally charge is set to drop in the new year, but consumer affairs experts and advocates are now urging [...]

The case shows the need for more oversight of fintech startups that are increasingly offering services similar to those traditionally performed by banks, Joe Baradziej was surprised to discover, at the beginning of April, that low-fee money transfer platform Wise had closed a multicurrency account he’d been using for travelling and for some [...]

Byline: ERICA ALINI; Staff Joe Baradziej was surprised to discover, at the beginning of April, that low-fee money transfer platform Wise had closed a multicurrency account he'd been using for [...]

Byline: ERICA ALINI, SALMAAN FAROOQUI U.S. president-elect Donald Trump's promise to impose 25per-cent tariffs on all imports from Canada and Mexico has set off alarm bells among politicians and economists [...]

To think about the possibilities is to contemplate a bewildering range of what-ifs, so The Globe asked four experts to help Canadians think through whether they should tweak their personal finances, U.S. president-elect Donald Trump’s https://www.theglobeandmail.com/world/article-trump-tariffs-canada-mexico/ on all imports from Canada and Mexico has set off alarm bells among politicians and economists north of the border. But should Canadians change what [...]

Byline: ERICA ALINI; Staff There is much for consumers to like about a new generation of prepaid cards offered by up-and-coming challenger banks and fintech startups. But not all of [...]

Byline: ERICA ALINI; Staff Air passengers could learn a useful lesson from an Edmonton resident who challenged a carrier's rebooking of a cancelled flight after he discovered that a much [...]

Stranded passengers may secure better alternatives by challenging their carrier’s default rebooking, Air passengers could learn a useful lesson from an Edmonton resident who challenged a carrier’s rebooking of a cancelled flight after he discovered that a much earlier departure had room [...]

Byline: ERICA ALINI; Staff The Supreme Court of Canada unanimously dismissed an appeal by domestic and global airlines in a landmark decision that upholds the country's Air Passenger Protection Regulations, [...]

Passengers will continue to be able to claim compensation as set out in the current rules for flights to and from Canada, The Supreme Court of Canada unanimously dismissed an appeal by domestic and global airlines in a landmark decision that upholds the country’s Air Passenger Protection Regulations, or APPR, as it [...]

Declining borrowing costs will shrink the gap between the low mortgage rates homeowners had during the early stages of the COVID-19 pandemic, and the higher rates many will face when renewing their loans in 2025 and 2026, Many homeowners who will be renewing their five-year mortgages for the first time next year may be worried about a steep increase in their monthly payments. But faster and larger [...]

Byline: ERICA ALINI; Staff Many homeowners who will be renewing their five-year mortgages for the first time next year may be worried about a steep increase in their monthly payments. [...]

Byline: ERICA ALINI; Staff With central bank interest-rate cuts now under way in the United States as well, Americans are largely set to see the cost of their credit-card debt [...]

Credit cards in the U.S. typically have variable interest rates, but in Canada the majority of credit cards have fixed rates, With central bank interest-rate cuts now under way in the United States as well, Americans are largely set to see the cost of their credit-card debt slowly decline. But only [...]

Byline: ERICA ALINI; Staff A federal levy on vacant homes owned by foreign nationals that also ensnared thousands of Canadian taxpayers has so far failed to raise any meaningful revenue, [...]

Almost 98% of underused housing tax returns assessed have no tax owing, A federal levy on vacant homes owned by foreign nationals that also ensnared thousands of Canadian taxpayers has so far failed to raise any meaningful revenue, with almost all tax [...]

Byline: ERICA ALINI; Staff New federal rules would help homebuyers access lower mortgage rates for pricier properties and pay smaller instalments over a longer time period, but the changes would [...]

While the changes will make it easier for first-time buyers to purchase a home, they could wind up paying tens of thousands of dollars more in interest, New federal rules would help homebuyers access lower mortgage rates for pricier properties and pay smaller instalments over a longer time period, but the changes would also allow borrowers to [...]

Statistics Canada’s consumer price index report says the slowdown was partly driven by lower gasoline prices, 11 a.m. What’s next? The Bank of Canada’s next rate announcement is more than a month away – meaning there’s plenty of time to speculate on the size of rate [...]

Byline: ERICA ALINI; Staff The case of a Montreal resident who was charged twice for luggage on both the outbound and return segments of an international trip shows the potential [...]

Airlines’ poor implementation of the rules that govern codeshare flights can result in overbilling and a lack of clarity, says head of advocacy group, The case of a Montreal resident who was charged twice for luggage on both the outbound and return segments of an international trip shows the potential pitfalls of booking with [...]

Consumers should keep in mind that by doing so they might forfeit some of their travel insurance coverage and rights to refunds, experts warn, A strike by Air Canada’s https://www.theglobeandmail.com/investing/markets/stocks/AC-T/ pilots could disrupt travel for hundreds of thousands of passengers in the coming weeks, but consumers may regret rushing to cancel or rebook their [...]

Byline: ERICA ALINI; Staff Fixed mortgage rates under the 4-per-cent mark are like an endangered species coming back from the brink of extinction in Canada's current real estate market. Already, [...]

Lower rates may help prospective homebuyers and borrowers with upcoming mortgage renewals, Fixed mortgage rates under the 4-per-cent mark are like an endangered species coming back from the brink of extinction in Canada’s current real estate market. Already, there are sporadic sightings [...]

Governor Tiff Macklem said it is “reasonable to expect further cuts in our policy rate” provided that inflation subsides as expected, 11:40 a.m. What’s next? The next Bank of Canada decision is coming Oct. 23. Between now and then, there will be plenty of economic data for central bankers and investors [...]

Putting money into an FHSA can yield not only tax savings but a boost to the Canada Child Benefit, a tax-free monthly payment from the federal government, For young families with tight budgets, the combination of the new first home savings account and the federal child benefit can be a match made in personal finance heaven. But [...]

The focus on shifting income to a lower earner has diverted attention from the fact that Canada Pension Plan benefits can also be divided, Income splitting is a perennial hot topic among retirees, but one aspect of it is often neglected, according to some financial planners: the ability to share Canada Pension Plan payments. [...]

The Globe’s personal finance reporter Erica Alini explains the impact of indexing inflation, For the best listening experience and to never miss an episode, subscribe to The Decibel on your favourite podcast app or platform: Apple Podcasts, Spotify, Amazon Music, iHeartRadio, Pocket Casts [...]

Byline: ERICA ALINI; Staff Tiny apartments in Toronto, Canada's largest condo market, are increasingly turning into a financial riddle for real estate investors. On the one hand, owners renting out [...]

Studios, the smallest condo units, have seen the steepest annual declines in rents for recent leases, Tiny apartments in Toronto, Canada’s largest condo market, are increasingly turning into a financial riddle for real estate investors. On the one hand, owners renting out the smallest units in [...]

The reading matched estimates on Bay Street, likely keeping the Bank of Canada on track to cut interest rates again on Sept. 4, 10:35 a.m. What’s next? There is not much happening between Tuesday’s inflation report and the next Bank of Canada rate announcement on Sept. 4. Statistics Canada will publish numbers on [...]

While hotels increase room rates months ahead of events such as the Eras Tour, they are likely forced to lower them later on to boost occupancy in vacant rooms, Europe’s summer of Taylor Swift megaconcerts and Olympic Games holds a counterintuitive lesson for Swifties, sport fans and travellers at large: Booking your accommodations months in advance doesn’t always guarantee [...]

Byline: ERICA ALINI; Staff A passenger rights group has filed a lawsuit against WestJet Airlines Ltd. in a legal challenge that some consumer advocates say could have broad repercussions, helping [...]

Byline: ERICA ALINI; Staff Decades of low borrowing costs established home equity lines of credit, or HELOCs, as Canadians' top choice for financing anything from kitchen facelifts to third-floor additions. [...]

Byline: ERICA ALINI; Staff Travellers who haven't yet finalized their plans for summer may be able to find some unusually cheap flights for the tail end of the season this [...]

Byline: ERICA ALINI; Staff Ottawa's new benefit for people with disabilities risks becoming an indirect financial transfer to many of the country's provinces and territories if more jurisdictions don't take [...]

Byline: ERICA ALINI; Staff Borrowing costs may still be uncomfortably high for most Canadians, but anyone venturing into the mortgage market this summer will find a welcome silver lining: a [...]

The Office of the Taxpayers' Ombudsperson has launched a formal investigation of how the Canada Revenue Agency handled new reporting rules around bare trusts that took effect - and were [...]

Byline: Clare OâHara, Erica Alini; Staff A former client of RBC Dominion Securities, the wealth management subsidiary of Royal Bank of Canada, estimates he lost tens of thousands of dollars [...]

Byline: ERICA ALINI; Staff Few new parents realize that the timing and length of the period they take off work after a child's birth can complicate their mortgage approval process. [...]

Byline: ERICA ALINI; Staff Banks big and small are teaming up with estateplanning software platforms to help clients take care of that most neglected item on the personal finance to-do [...]

Byline: ERICA ALINI; Staff COST OF LIVING The main takeaway for taxpayers from the government's new guidance on changes to the tax on capital gains is that Ottawa is sticking [...]

Byline: ERICA ALINI, MATT LUNDY After inflation's largest upswing in four decades, it's finally simmering down. As of April, the annual rate of inflation was firmly nestled below 3 per [...]

Byline: ERICA ALINI; Staff For homeowners with mortgage renewals coming up in the next few months, the question is whether and how to take advantage of the beginning of interest [...]

A 2023 analysis by the Parliamentary Budget Office estimated the benefit might provide an average of approximately $7,700 to $14,600 per year – significantly more than the $2,400 in the new budget, The federal government’s new benefit for working-age Canadians with disabilities would deliver just a fraction of the financial support that even modest scenarios had estimated Ottawa might provide through the [...]

Byline: ERICA ALINI; Staff New tax-filing obligations around trusts and real estate investments are forcing many Canadians to spend hundreds - if not thousands - of dollars in accounting and [...]

Byline: ERICA ALINI; Staff The 2024 tax season got off to a rocky start for many early filers, as the Canada Revenue Agency experienced a technical issue in processing the [...]

Byline: ERICA ALINI; Staff In Canada's overheated rental market, tenants are increasingly gravitating toward purpose-built rentals, experts say - demand that is driving up rent for these units much faster [...]

Supply, affordability and cost-conscious tenants looking for rent-controlled units are driving up costs for purpose-built rentals, In Canada’s overheated rental market, tenants are increasingly gravitating toward purpose-built rentals, experts say – demand that is driving up rent for these units much faster than for condos. Advertised [...]

The UHT imposes a yearly 1-per-cent levy on foreign-owned residential properties considered to be underused or vacant, A federal tax targeting foreign real estate investors has turned into a bureaucratic headache for many Canadian couples owning rental property who may be among the domestic homeowners required to [...]