Shopify Inc. shares fell sharply on Wednesday after the company reported a quarterly loss and issued an outlook that anticipates slower revenue growth in the upcoming quarter. The e-commerce platform, which reports in U.S. dollars, posted a net loss of USD 273 million for the quarter ended March 31, equal to a loss of USD … Read more

Nearly two years after ChatGPT first greeted users with “Hello! How can I assist you today?”, most Canadians worry that the newest wave of artificial intelligence (AI) will displace human workers. In a February Leger survey, 75% of respondents expressed this concern. While many see AI as useful, there is a strong perception that it … Read more

You applied for a new credit card expecting added convenience and perks, only to find your application declined. That can feel frustrating and confusing, but it’s also an opportunity to learn what lenders saw in your file and take practical steps to improve your chances next time. Understanding the likely reasons for a decline helps … Read more

The 2024 federal budget introduced changes to how capital gains are taxed in Canada. Under the proposals, certain taxpayers would see a larger portion of their capital gains included in taxable income — two-thirds instead of the long-standing one-half inclusion rate — for part or all of their gains. “Inclusion rate” refers to the percentage … Read more

Low-interest credit cards can be a smarter choice than cash-back or rewards cards for anyone who regularly carries a balance. At the typical interest rate many cards charge on unpaid balances, interest can quickly erode the value of any rewards you earn. The BMO Preferred Rate Mastercard appeals to cardholders seeking lower ongoing finance charges: … Read more

Michael McCullough is a financial writer and editor in Duncan, B.C. Oil sands producers await TMX price bump The expanded Trans Mountain Pipeline began moving diluted bitumen on Wednesday. Even at a slow pace, it will take weeks for the crude to reach destination refineries, but the restart has renewed hopes that Canadian oil sands … Read more

The minimum age at which you can convert a registered retirement savings plan (RRSP) to a registered retirement income fund (RRIF) depends on provincial rules—commonly 50 in some provinces and 55 in others. Once you convert an RRSP to a RRIF, you must begin taking minimum annual withdrawals starting the year after conversion. These mandatory … Read more

Metro, Inc. has announced plans to leave the Air Miles Rewards program and introduce Moi Rewards across its Ontario stores later this year. The move affects shoppers who collect Air Miles and those who rely on store loyalty perks. Below we explain what’s changing, how Moi Rewards works today in Quebec, what to expect during … Read more

With tax season in full swing (individuals faced the April 30 filing deadline and self-employed Canadians have until June 15), many people are wondering how long it takes to receive a tax refund in Canada—and what the smartest ways are to spend that money. While a vacation or a wardrobe refresh can be tempting, there … Read more

Ask MoneySense I was having dinner with a friend and talking about inheritance tax regarding her parents’ house when they pass away. If they transferred ownership while the parents were still living, what would the impact of the inheritance tax be? –Mary Understanding inheritance tax in Canada Thanks for your question, Mary. It’s important to … Read more