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CRA announces prescribed rate for Q2

Agency confirms the interest rate Canadians must pay on overdue tax will remain 10%

work from home

$5.2 billion in home office expenses claimed last tax season

CRA has indicated that employees who worked from home in 2023 by choice can claim employment expenses 

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iA Financial Group reports net income of $248 million for Q4 2023

Earnings per share were $2.46, up from $1.71 a year earlier

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Product roundup: Mackenzie launches halal mutual fund

Also, Lester Asset Management launches Canada's first biodiversity fund

WCM’s Return to Bay Street program results in 18 hires in 2023

Hirees to work at eight different financial institutions

  • By: IE Staff
  • February 20, 2024 February 20, 2024
  • 11:03
business woman

Must an employer provide a Form T2200?

Employees need the form to claim home-office expenses this tax filing season

Binder with papers

CPP Investments earned 3.4% in latest quarter

Net assets grew to $590.8 billion

change direction

Industry moves this week

Two people departed from Scotiabank, including veteran executive Jake Lawrence

  • By: Katie Keir
  • February 15, 2024 February 15, 2024
  • 14:29
Manulife head office building in Toronto, Canada. Manulife is a Canadian multinational insurance company.

Manulife Financial reports $1.66B in net income in Q4

In Canada, assets under management were up 3% in 2023

Executives are discussing the financial results of the Company for the marketing plan.

Great-West Lifeco sees Q4 earnings rise to $740M

Net earnings were down for the company's Canada segment

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Quebec’s top leaders announced for 2023

Guy Cormier and others were honoured by Finance et Investissement

  • By: IE Staff
  • February 14, 2024 February 14, 2024
  • 11:24
Personnel

Power Corp. hires veteran Scotiabank executive Jake Lawrence

Former head of Scotiabank's wholesale banking and capital markets business replaces Gregory Tretiak at Power Corp. as of March 18

gavel

SeeWhy Learning sues Advocis over non-payment of study materials

The national financial advisors association alleges it was overcharged

AMF outlines best practices for responsible AI use

Consumer protection and individual responsibility a core focus of the recommendations

Downtown Vancouver, BC with bridge over harbour

Denying tax deductions for illegal short-term rentals could raise $170M: PBO

One in 10 Airbnbs in Montreal, Toronto and Vancouver are unlicensed, report found

Pension saving

Firms expect fewer Canadians will contribute to RRSPs this year

Canadians are more concerned with meeting current needs than saving for the future, according to industry surveys

CPA Canada cuts 20% of workforce ahead of split with Ontario and Quebec

The organization had about 400 employees across the country before the cuts

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4 in 10 Canadian asset managers plan to launch impact products: Millani

Respondents concerned about greenwashing, biodiversity and green investment classification in Canada

Computer with 2024

Insurance advisors need ample coaching and tools

MGAs and carriers are revamping their support programs in response

  • By: Katie Keir
  • February 12, 2024 February 9, 2024
  • 00:10
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Globalive’s Lacavera says deal in place to acquire Wealth One Bank of Canada

Wind Mobile founder sees acquisition as opportunity to provide more choice in banking services

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Pollock sues Advocis for wrongful termination

Longtime president and CEO alleges he was let go without notice

Sun Life building and Place Ville Marie, downtown Monteral

Sun Life Financial reports net income of $749 million for Q4 2023

Assets under management increased 6% in 2023

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Wealth business drives Canaccord earnings as M&A outlook improves

The firm's Canadian wealth management business generated $77 million in third-quarter revenue

  • By: IE Staff
  • February 8, 2024 February 8, 2024
  • 10:42
bank fail

NY Community Bancorp tries to reassure investors, but stock falls again

Shares fell another 11% Wednesday after the bank's credit rating got downgraded to “junk”

  • By: Ken Sweet
  • February 7, 2024 February 7, 2024
  • 11:25
diversity

Big Six banks missing the mark on hiring people with disabilities

Government data shows financial sector is also falling short on gender and Indigenous pay gaps