The Pituffik Space Base (formerly Thule Air Base) in Greenland Global markets faltered as fresh tariff threats from U.S. President Donald Trump reignited fears of a renewed trade clash between Washington and key European partners. The announcement targeted several EU nations and immediately sent shockwaves through equities, currencies, and commodities. European stocks opened sharply lower, with export‑heavy sectors—particularly autos, luxury goods, and industrials—bearing the brunt of the selloff. Major multinational firms saw billions wiped from their market value within hours as investors braced for potential retaliatory measures from Brussels. The proposed tariffs, set to begin at 10% and potentially rise to 25% later in the year, stem from escalating geopolitical disagreements that have st...
Whether your child is a newborn, working a part-time job, or considering applying to university, there are essential benefits and credits that parents should be aware of as tax season approaches. As a parent, understanding these opportunities can significantly impact your financial well-being. Let’s explore some key points:
1. Canada Child Benefit (CCB)
The Canada Child Benefit (CCB) is a tax-free monthly payment administered by the Canada Revenue Agency (CRA). It aims to assist eligible parents with the cost of raising children. Here’s what you need to know:
- Maximum Benefit: For children under six, the maximum annual benefit is $7,437 ($619.75 per month). For children aged six to 17, it’s $6,275 ($522.91 per month).
- Sign Up: Remember to sign up and apply for the CCB promptly, as there’s no retroactive payment. It begins once you’ve enrolled.
2. Childcare Expenses
Childcare costs can be substantial, but parents can claim certain expenses on their annual tax return. Here’s how it works:
- General Amount: Parents can claim up to $8,000 for children under seven and $5,000 per child aged seven to 16.
- Additional Amounts: Children with disabilities may qualify for additional amounts.
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