Category: Personal Finance

How to Not Fall Victim to the CRA Phone Scam

Posted February 10, 2019 by CCC Staff in ,

Have you ever received a phone call from someone who claims to be from the Canada Revenue Agency (CRA) threatening to arrest you if you don’t pay up? You’re not alone. The “CRA phone scam,” as it’s come to be known, is quite prevalent in Canada. In fact, according to the Canadian Anti-Fraud Centre, more than $15 million has been taken from about 4,000 Canadians through the CRA phone scam since 2014. (Although the actual number of victims and dollar amount stolen is likely a lot higher.)

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The Taxman and Loyalty Points

Posted October 5, 2018 by cccadmin in

Couple Doing Taxes

Us Canadians love our loyalty points. But before you redeem your points, be sure to understand the tax consequences, especially if you earned those points through your work.

Now, I know what you’re thinking. Tax consequences, what, tax consequences? And you’d be right in most cases. If you’re using your personal credit card to earn and redeem loyalty points, then there wouldn’t be any tax consequences from earning and redeeming them.

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Buying Bitcoin with Your Credit Card: A Bitcoin Primer

Posted December 19, 2017 by cccadmin in

Unless you’ve been living under a rock, it’s hard not to hear about Bitcoin. Bitcoin is the hot topic around watercoolers these days. Is it legit? Will it hit a new record – or go bust? These are just some of the questions being asked now that Bitcoin has gone mainstream.

Bitcoin isn’t just popular at the office. It’s popular online, too. The search term “buy Bitcoin with credit card” is on the rise on Google, as everyone looks to cash in on the cryptocurrency craze.

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Celebrating Financial Literacy Month 2017

Posted November 5, 2017 by cccadmin in

Financial Literacy Month

Happy Financial Literacy Month, everyone! Can you believe we’re celebrating the 7th annual Financial Literacy Month? This year has a unique theme: “Take charge of your finances: It pays to know!” It’s all about Canadians taking actions on their finances to better manage their money and debt. This includes creating a budget, setting up a savings plan and understanding your financial rights and responsibilities as a consumer.

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Are Debit Card Rewards Worth Considering?

Posted September 20, 2017 by cccadmin in

Do you prefer using your debit card over your credit card in certain instances? You’re not alone. When you’re at the supermarket, it can be convenient to use your debit card and request cashback at no extra charge. It’s a lot easier than going to the ABM to get cash.

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