Skip to main content

Featured

Churchill Falls: A 15% Power Bill Rebate, $10 Billion From Ottawa — What It Means for Your Wallet

  Thursday, August 20, 2026 Last Monday, Prime Minister Mark Carney stood on a pier in St. John's alongside Newfoundland and Labrador Premier Tony Wakeham and Quebec Premier Christine Fréchette to announce what Ottawa is calling the largest clean energy investment in North American history. Buried in the headline numbers — $273 billion in nominal contract value, $10 billion in federal financing, 14,000 megawatts of new hydro capacity — is a much simpler story for ordinary Canadians: who pays what for electricity, for the next 50 years. Here's what actually changed, and what it means for your bills whether you live in St. John's, Montreal, or Ajax, Ontario. The deal it's replacing was historically lopsided To understand why this is a big deal, you need the old one. Under the original 1969 Churchill Falls contract, Quebec locked in the right to buy the vast majority of the plant's power from Newfoundland and Labrador at roughly 0.2 cents per kilowatt-hour — a price th...
Post a Comment
Read more

article

Labels

RESP: A Smart Way to Save for Schooling.


RESP is a great way to save for schooling. RESP stands for Registered Education Savings Plan. It is a government-sponsored investment account that helps parents save for their child’s post-secondary education. One of the key benefits of RESP is that it allows your savings to grow tax-free until the funds are withdrawn. This means that any investment income earned within the RESP is not subject to tax as long as it remains in the plan. Additionally, the government provides grants and incentives to encourage parents to save for their child’s education. For example, the Canada Education Savings Grant (CESG) matches 20% of the contributions made to an RESP, up to a maximum of $500 per year. This can significantly boost your savings over time.


RESPs offer flexibility in terms of investment options. You can choose from a wide range of investment products such as mutual funds, stocks, bonds, and guaranteed investment certificates (GICs). This allows you to tailor your investment strategy based on your risk tolerance and financial goals. Moreover, when it comes time to withdraw funds from the RESP, the earnings are taxed in the hands of the student, who typically has little or no income. Since students usually have a lower tax rate than their parents, this can result in significant tax savings.


In summary, RESP is an excellent way to save for schooling as it offers tax advantages, government grants, and investment flexibility. It provides parents with a structured and efficient means of saving for their child’s post-secondary education while maximizing their savings potential.

Labels:

Comments

Post a Comment