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Markets Steady as Tariff Tensions Ease and Trade Talks Gain Momentum

U.S. stock futures edged higher Tuesday morning, signaling cautious optimism among investors following President Trump's latest tariff announcements. Futures tied to the S&P 500 rose 0.12% , while Nasdaq 100 futures gained 0.25% , as markets digested the news of steep import duties on 14 countries and a delayed implementation date of August 1 . The tariff threats—ranging from 25% to 40% —initially rattled markets, with major indexes closing lower on Monday. However, the postponement has opened a window for renewed trade negotiations , giving investors hope that diplomatic efforts may avert a full-blown trade war. Global Respons:  Countries like South Korea and Japan , both targeted by the tariffs, have signaled readiness to accelerate trade talks. Meanwhile, Wall Street is keeping a close eye on upcoming Federal Reserve minutes and corporate earnings , with Delta Air Lines set to kick off the season later this week. With the deadline extended and negotiations underway, invest...
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New Financial Considerations for Canadians in 2024


This year, Canadians have several new financial considerations to keep in mind. Here are four of them:

  • First Home Savings Account (FHSA): Introduced in the 2023 federal budget, FHSAs are a new type of investment account that can be used by any Canadian resident between age 18 and 71 who has not lived in a home owned by them or their spouse or common-law partner in the current year or previous four years. Up to $8,000 of annual contributions can be made to an FHSA, up to a total of $40,000. Contributions are tax deductible and though you report them in the year they are made, the deduction can be carried forward to use in a future higher income tax year. Eligible withdrawals must be made within 15 years of opening an FHSA and are tax free when used for the purchase of an eligible owner-occupied home.

  • High-Interest Debt: High-interest debt can be a significant burden on your finances. If you have high-interest debt, consider consolidating it into a lower-interest loan or line of credit. This can help you save money on interest charges and pay off your debt faster.

  • New Tax Filing Obligation: Starting in 2024, Canadians who hold foreign assets with a total cost of more than $100,000 will be required to file a new form with their tax return. This form is called the T1135 and is designed to help the Canada Revenue Agency (CRA) identify taxpayers who may be hiding assets offshore.

  • Registered Retirement Savings Plans (RRSPs): RRSPs are a popular way to save for retirement in Canada. If you haven’t already, consider making a contribution to your RRSP before the deadline on March 1, 2024. This can help you reduce your taxable income and save for your future.


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