Personal finance includes everything from bank accounts, cheques, credit cards and mortgages to investment, insurance and taxation; in other words, everything related to you and your family's financial affairs.
Newcomer Investor Education Kit: Investing Guide for Newcomers to Ontario
This brochure will help newcomers, like you, better understand the investment environment and what it means to invest your money. Available in several languages.
How
can I open a bank account?
In order for a financial institution to handle your money, you open a personal
account with that institution.
How
can I compare the cost of living and salaries between
my country of origin and Canada?
The cost of living will vary from city to city, and is affected by things like
your family size, where you decide to shop and if you own a car.
What
does it cost for a family of three to live in Canada?
Living expenses vary from city to city in Canada. Find out more about how to
estimate your costs and prepare a budget.
What
do I need to know about credit and my credit history?
Your credit report (or credit history) is essentially your financial "reputation",
which indicates how you have handled your financial obligations in the past,
including credit card payments, loan repayments or sponsorship obligations.
How
can I get a credit card with no Canadian credit history?
Most banks will not give you a credit card without any kind of history, but
there are ways to get credit and build a credit history.
My bills are bigger than my income, and I can't seem to pay off my debts. Could I get help?
If you have accumulated debt and are having difficulties repaying it, you may consider entering a debt management program offered by a credit counselling service.
Where
can I get information on investments?
Banks and other financial institutions can provide initial information in person
about the investment services they provide. Investment opportunities exist
in the stock market, bond market, mutual funds and other types of financial
products.
What
is an RRSP?
A Registered Retirement Savings Plan is a savings plan that is "registered" with
Canada Customs and Revenue Agency (CCRA). It allows you to save money for your
retirement on a tax-sheltered basis.
What
is the taxation system in Canada?
The Canadian tax system exists to collect revenues from individuals and corporations
to help finance government programs and services.
Will I pay Canadian taxes? How much will I pay?
Canadians pay a variety of taxes. They allow Canadian residents to benefit
from government programs that have been paid for through their contributions.
Where
can I find help with my income tax return?
Each year you must submit an Income Tax and Benefit Return to tell the government
how much money you earned and how much tax you paid. If you need help filing
your income tax and are eligible, there are a number of community-based options
to consider.
What is the Canada Child Tax Benefit?
If you have children under the age of 18, the Government of Canada may be able to help you with some of the costs of raising them.
What kind of personal insurance can I get?
An insurance policy is a type of financial product designed to protect you from loss, make your assets grow or help you save for the future. There are different types of insurance that protect you, your assets or your family in various situations.
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