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Fixed vs. Variable Mortgages in Canada: Which Should You Choose Right Now?

  Mortgages | Personal Finance | June 2026 Variable rates sit at 3.30% while fixed rates have climbed above 4%. The Bank of Canada is frozen between inflation and recession. Here's what that means for your mortgage decision today. By MoneySavings.ca Staff  |   June 26, 2026 📊 Today's Best Mortgage Rates — June 26, 2026 Type Term Lowest Rate (Broker) Big Bank Range Variable 5-Year ~3.30% ~3.50–4.00% Fixed (Insured) 5-Year ~4.04% ~4.50–5.20% Fixed (Conventional) 5-Year ~3.94% Higher Bank of Canada Policy Rate 2.25%  |  Prime Rate: 4.45% Sources: NerdWallet Canada, Ratehub.ca, WOWA.ca, bestrates.ca. Rates as of June 26, 2026. Broker rates require qualification; Big Bank rates are estimates. Your actual rate depends on your credit score, down payment, and mortgage type. If you're buying a home, renewing a mortgage, or simply trying to make sense of an unusually complex rate environment, you've arrived at the right question at a complicated moment. The Canadian...

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CRA may tax company gifts to employees, depending on what it is and how much it’s worth

 


Here is a short article about the tax rules surrounding gifts by employers in Canada:

The Canada Revenue Agency (CRA) distinguishes between gifts, awards, and long-service awards. The value of gifts and awards are generally taxable to employees as employment income, but certain non-cash gifts and awards may not be taxable under the updated administrative policies.

A gift is something given to an employee for a special occasion such as a religious holiday, birthday, wedding, or the birth of a child. Gifts given around this time of year will generally fall under this category. 

An award is given for an employment-related accomplishment such as outstanding service, or an employee’s suggestion. It recognizes an employee’s “overall contribution to the workplace, not recognition of job performance.” 

A valid, potentially non-taxable award has clearly defined criteria, a nomination and evaluation process, and a limited number of recipients, according to the CRA. Contrast this with a reward, which is provided to employees for performance-related reasons, such as meeting or exceeding sales targets, or completing a project. These rewards are considered to be taxable benefits to the employee, akin to a bonus or extra compensation. 

Under the CRA’s administrative policy, employees can receive an unlimited number of tax-free non-cash gifts or awards each year, provided the combined total fair market value of those gifts and awards is less than $500 (including tax). Excluded from this $500 limit are small items or items of a trivial value such as coffee or tea, T-shirts, mugs, plaques, and trophies. If, however, the total of non-cash gifts and awards is more than $500 in a calendar year, the amount over $500 will be considered a taxable employment benefit.


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