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TSX Surges 1.35% as Nvidia Beats and Oil Retreats Below $100

  TSX Surges 1.35% as Nvidia Beats and Oil Retreats Below $100 A blowout Nvidia earnings report and accelerating US-Iran peace diplomacy conspired to lift Canadian equities, while a sharp drop in crude oil — below the psychologically important $100 mark — offered relief to consumers and rate-watchers alike. TSX 34,197.87 ▲ +1.35% CAD/USD 0.7275 ▼ −0.02% WTI Crude $97.83 ▼ −6.07% Gold $4,518/oz ▼ −0.38% Bitcoin CAD $106,195 ▲ +0.79% Market Overview Bay Street Bounces Back Canadian equities logged their best single-day gain in weeks on Thursday as two powerful tailwinds converged: Nvidia's standout quarterly results lifted North American tech sentiment broadly, while peace-talk progress between the US and Iran sent oil prices tumbling more than six percent. The S&P/TSX Composite Index climbed to 34,197.87, recovering the ground lost during Tuesday's selloff and then some. The Nvidia Effect Chipmaker Beats Estimates, Rewards Shareholders After Wednesday's close, Nvidia rep...
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Unlocking Tax Benefits: A Guide for Parents in 2024

 


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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