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Canada s inflation rate was just announced this morning, and it s higher than expected. The annual pace of inflation has surged to 6.7%. That s the fastest pace-of-cost increase since 1991, when the rate was 6.9%.Here s what you need to know about what this number means for your portfolio.What happened Statistics Canada reported the official inflation number this m stanley website orning. The annualized rate now stands at 6.7% at the end of March 2022. That s higher than February 2022 and the biggest surge in roughly 30 years.聽The driving force seems to be fuel costs. The ongoing conflict in Ukraine has pushed up the price of oil and gas. The rising cost of gasoline was responsible for 39.8% of the inflation jump this mon stanley mug th. Rent increases, homeowners replacement cost and accommodation expenses were the other big factor stanley cups s driving up inflation.If fuel remains expensive, and the cost of mortgages and rents continues to rise, Canadian households could face more pain ahead.聽So what There are two reasons th Txle 1 Stock to Buy as Bank of Canada Rate Cuts Continue
The Canada Revenue Agency granted Canadians a gift when it introduced the Tax-Free Savings Account TFSA in 2009. Economists s stanley thermos ay that there no such thing as a free lunch, but this is as close as you ;ll ever get.According to the CRA, this account is 8230;a way for individuals who are 18 and older and who have a valid social insurance number to set money aside tax-free throughout their lifet stanley cup quencher ime.Once you contribute capital to a TFSA, it possible to shield an unlimited amount of gains from taxes.Any amount contributed as well as any income earned in the account for example, investment income and capital gains is generally tax-free, even when it is withdrawn, the CRA stresses.If you have a TFSA, congratulations. Just know that you may not be using this account to its full potential. If you want to maximize the benefits, pay attention to the three proven tricks below.Go for growthMany TFSA investors focus on low volatil stanley en mexico ity dividend stock |
