Business

Greater Toronto Area Housing Market on Fire as Average Home Prices Surpasses $1 Million

The Toronto Regional Real Estate Board says the housing market remained on fire in February with the average price surpassing $1 million for the first time. The real estate board...

Canada To Extend 3 COVID-19 Supports for Businesses Until June

The Canadian federal government announced Wednesday it will extend multiple critical COVID-19 emergency benefits aimed at helping businesses during the pandemic. Prime Minister Justin Trudeau said the Canada Emergency Wage...

CRA Says “Rare” Error in Some Tax Slips Lists Repaid CERB as Taxable Income

When the COVID-19 pandemic closed schools last spring, crosswalk guard and recent graduate Danny Thomson were encouraged by the Ottawa Safety Council to apply for the new COVID-19 emergency benefits.

Canada’s Economy Recorded Its Worst Results in 2020 But Entered 2021 With Double-Digit Growth

The Canadian economy sprinted to the finish line of 2020 with nearly double-digit growth in the fourth quarter, ending its worst year on record on a strong note that has continued into the...

CFIB estimates Canada’s Small Businesses Now Have $135 Billion in Debt Due to COVID-19

As the COVID-19 pandemic drags on, Canadian small businesses have racked up a collective $135 billion in debt because of the health emergency, according to estimates by the Canadian Federation of Independent Business...

Canada’s Central Bank Warns Housing Market Has “Early Signs” of Overheating

Bank of Canada governor Tiff Macklem says the central bank is seeing early signs that people may be purchasing homes solely because they believe prices may go up. Macklem says...

Canada’s Central Bank Pledges Full Support to Revive Job Markets

Bank of Canada Governor Tiff Macklem indicated he plans to maintain plenty of stimulus in the economy well into a strong labour market recovery. Mr. Macklem emphasized the damage COVID-19...

Financial Data from Canada’s Big Banks Likely to Provide Insight on Economic Recovery this Week

Canada’s largest banks will report their quarterly financial results this week, and analysts say they will be listening for hints as to how bank executives view the economic recovery from COVID-19.

Ontario Overview

Ontario has densely populated cities along the Great Lakes and St. Lawrence River in the south, and remote communities in the forests of the Canadian Shield in the north. This is reflected...

Netflix Tax Could Yield $1.3 Billion in Revenue, Slightly More and Federal Government’s Estimate says PBO

A new report from the parliamentary budget officer says the government may be slightly underestimating how much revenue it could receive from taxing online services like Netflix. Currently, foreign-based online...

Ontario Set to Spend $2.6 Billion Over Fall Budget on COVID-19 Pandemic

Ontario will spend all of the $13.3 billion in pandemic funding it received from the federal government by the end of March, although that won't change the record deficit it expects to rack...

PM Trudeau Pledges Billions in Permanent Funding for Public Transit

Prime Minister Justin Trudeau announced plans today for the federal government to spend an additional $14.9 billion over the next eight years on public transportation projects across the country. The...

CERB Recipients Deemed Ineligible After Messaging Mix-Up Won’t Be Forced to Repay

Self-employed Canadians who received up to $14,000 in Canada Emergency Response Benefit (CERB) payments but were later told they were ineligible after a messaging mix-up won’t be forced to repay.

Toronto Home Prices Topping $1 Million As January Sales Surges 52%

Canada’s largest housing market got off to a roaring start this year, as Toronto home sales continued to surge in January, led by activity in the condo market. Greater Toronto...

Applications to Ontario’s Nursing Programs Surges as Job Vacancies Grow

With Canada facing a nursing shortage, new data is suggesting a surge in applications to nursing programs at Ontario’s universities. Employment in health-care and social assistance rose 19,000 jobs in...

Ontario Will Let More Businesses Reopen, Gradually Lifting Stay-At-Home Orders

Provincial authorities on Monday said non-essential retailers in Ontario would be allowed to reopen at limited capacity, as three public health units are set to loosen COVID-19 restrictions. Premier Doug...

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