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Wall Street Ends October on a High as Amazon, Tech Giants Drive Market Rally

US stocks closed October with strong gains, capping off a winning month fueled by robust corporate earnings and optimism over easing interest rates. The Dow Jones Industrial Average rose 0.1% , the S&P 500 gained 0.3% , and the Nasdaq Composite advanced 0.6% , marking another month of steady growth across Wall Street’s major indexes. The standout performer was Amazon , whose shares surged nearly 10% to an all-time high after reporting third-quarter results that exceeded expectations. The company’s cloud division, Amazon Web Services, showed renewed momentum, easing investor concerns about slowing growth in the tech sector. This rally helped lift the broader technology space, with the Nasdaq notching its seventh consecutive monthly gain. Other members of the so-called “Magnificent Seven” also contributed to the upbeat sentiment, as investors embraced signs that Big Tech’s heavy investments in artificial intelligence and infrastructure are beginning to pay off. The S&P 500 an...
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Ottawa Expands Automatic Tax Filing to Simplify Tax Returns


 The federal government is taking significant steps to modernize the tax filing process for Canadians. In a recent fall economic statement, Ottawa announced plans to expand automatic tax filing services, aiming to make it easier for Canadians, especially those with simple tax situations, to file their annual returns.

The initiative, which builds on a national pilot program launched in 2023, will allow the Canada Revenue Agency (CRA) to automatically file tax returns on behalf of eligible lower-income Canadians starting as early as the 2025 tax year. The program has already shown promising results, with over two million eligible Canadians participating in the pilot and receiving billions in benefits and credits.

The expansion will also explore options to make free online tax software more accessible, ensuring that more Canadians can benefit from simplified tax filing. This move is part of Ottawa's broader efforts to reduce the complexity and cost of tax filing services, making them more user-friendly and efficient.

With these changes, the government hopes to increase tax compliance and ensure that more Canadians receive the benefits and credits they are entitled to. The CRA's SimpleFile service, which allows tax returns to be filed in as little as 10 minutes, will play a crucial role in this initiative.

As Ottawa continues to push for a more streamlined tax filing process, Canadians can look forward to a simpler and more efficient way to manage their taxes in the coming years.




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