The Rise Up Womens+ Pitch Competition, co-founded by the Black Business and Professional Association, The Women Entrepreneurship Knowledge Hub (WEKH), Diversity Institute, and Casa Foundation with support from the Royal Bank of Canada (RBC), Loblaw Companies Limited, Hydro One, Business Development Bank of Canada (BDC), The Globe and Mail, and City of Brampton is now open for applications!

If you want to win $10,000 in funding for your business and take your business idea to the next level then seize this opportunity to showcase your vision, connect with industry experts, and propel your entrepreneurial journey forward! Apply now to participate!

Application submissions are due April 21, 2024, @ 11:59 PM EST.

#RiseUpWomen #BlackWomenEntrepreneurs #BlackFemaleFounders #PitchCompetition #Entrepreneurship

Follow On Instagram:

@wekh_pcfe @torontomet @casafound @rbc @loblawco @hydrooneofficial @bdc_ca @globeandmail @citybrampton

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Two Big Life Moments Will Affect Your Taxes. Here’s How to Maximum Your Deductions

Good news if you’re the sort of person who loves filling out forms and poring over crinkled-up receipts: it’s tax season! And if you’re the sort of person who loathes such tasks, well, we can’t blame you. All the same, with the April 30 filing deadline approaching, we thought we’d share some advice regarding two common-ish life events with major tax implications: 1) getting married or moving in with your significant other, and 2) having a kiddo. And if you got hitched or had a kid prior to 2023, you’d be wise to read on to make sure you’re maximizing your deductions, because not overpaying the government is a sure way to build wealth. You can also check out a longer version of this article, which has pointers for folks who are heading off to university or bought a home. Let’s get to it:

Scenario #1: You’ve Shacked Up With Your Significant Other

The big perk of marriage (besides companionship, etc.) is that you and your partner can share tax credits and benefits. Couples in a common-law relationship can do the same. In either case, you’ll need to update your relationship status with the Canada Revenue Agency (and with Revenu Québec if you live in the province). Why bother? Because cohabiting couples can…

[1] claim the pooled charitable donations and pooled medical expenses amounts on whichever partner’s return will provide optimal savings (probably the higher earner).

[2] transfer unused credits for things like age, Canada caregiver, disability, pension, and tuition amounts. If you haven’t used them and your partner can, you can pass them along. The annual cap is $2,000 for pension transfers and $5,000 for tuition transfers.

[3] split pension income to take advantage of different marginal tax rates and reduce overall income taxes.

[4] claim any remaining credit from one partner’s Basic Personal Amount on the other partner’s return.

Scenario #2: Your Family Got Bigger

Adding a child to your family means less sleep, more stress, and discovering just how much more room there is in your heart than you expected. And tax breaks! A few of the biggies:

PRE-STORK TAX BREAKS

[1] Medical expenses. Ultrasounds, IVF treatments, fertility-related prescriptions, prenatal and postnatal treatments, hospital services — you can claim all sorts of birth-related expenses

[2] Adoption expenses. You can currently claim a federal credit of up to $18,210 in adoption-related expenses, and many provinces offer additional credits, so be sure to check.

POST-STORK TAX BREAKS

[1] Registered Education Savings Plan (RESP). This is a tax-advantaged account to help save for university. The government will match — that’s right, match — 20% of contributions up to $2,500 a year, for a lifetime total of up to $7,200.

[2] Regional grants. If you live in Quebec, félicitations: the provincial government will kick in a match of 10% of your RESP contributions, up to a max of $250. Other provinces, like B.C., offer similar RESP gifts.

[3] Canada Learning Bond (CLB). Children of eligible low-income families can receive a $500 deposit in their RESP from the government the first year it’s opened. Then, every year after that until they turn 15, they’ll get an additional $100, up to a maximum $2,000 benefit.

[4] Canada Child Benefit (CCB). Depending on your income, marital status, and kid’s age, you may qualify for up to $7,437 per child per year in tax-free support. You can apply for this benefit when registering a birth in your province or territory or online through your CRA My Account.

OK! That’s probably all you can stand reading about taxes in one sitting. Good luck!

Read More Articles From BlackWallStreet.ca News Blog

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 Shamier Anderson, a graduate of Wexford Collegiate School for the Arts, has impressed in roles like “Tracker” in John Wick 4 and “Trevante Cole” on Invasion, now streaming on AppleTV+. 

 Stephan James, known for portraying real-life figures, starred as Olympics hero Jesse Owens in Race and Walter Cruz in Amazon Prime’s series Homecoming. He’s the first recipient of the Radius Award from the Canadian Screen Awards. 

 Together, Shamier and Stephan co-founded Bay Mills Studios, producing The Legacy Awards on CBC, Canada’s first nationally broadcast award show celebrating Black Canadian excellence. Join us in celebrating these accomplished stars as they make their mark on Scarborough’s Walk of Fame! The ceremony is scheduled to take place at @shopstc on Wednesday, April 10th! 

 @shamieranderson @tdotsteph cc • @blackisnowcanada #ScarboroughWalkofFame #TalkofToronto

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About Gina Ma Brands 

Gina Ma Brands, led by visionary Gina Martial-Clarke, is driven by over two decades of experience in film, television, and media. Her areas of specialty include Brand Development, Brand Management, Brand Collaborations, Corporate Partnerships, and Media Production. With a commitment to inclusivity and creativity, Gina Ma Brands introduces The Gina Lumina Collection, a stunning jewelry line that embodies innovation and excellence. Alongside, Dirty Girls Inc. presents a bold alcohol brand, catering to a diverse audience with ready-to-drink martinis. Beyond her businesses, Gina Ma Brands also works with corporate and creative clients across the entertainment, music, financial, and technology sectors. Through these ventures, Gina Ma Brands continues to push boundaries, fostering diversity and creativity in media and entertainment. For more information, visit https://www.ginamabrands.com/

About the Glo Up Program 

This innovative program allows post-secondary students to gain hands-on high-level experiences within the media, creative arts, and entertainment industries. Led by visionary Gina Martial-Clarke, participants collaborate with industry leaders on real-life projects, from music video sets to celebrity events and brand launches. This immersive program fosters creativity, networking, and skill-building across various disciplines. Top students from leading colleges and universities, including Toronto Metropolitan University, York University, University of Toronto, Centennial College, Sheridan College, Fanshawe College, and many more have already been accepted into this dynamic initiative, shaping the future of media innovation. For more information, visit https://gloupprogram.com/

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Live Painting

Local Art

Music

Bar

Location: 1226 Kingston Rd, Toronto, On

For more details visit TalkofToronto.ca

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Scarborough, Ontario  — Introducing Cassandra Campbell Beauty + SKYN FACTORY, the latest addition to Scarborough’s beauty scene. Led by Cassandra Campbell, an award-winning makeup artist and master esthetician with over a decade of expertise, the studio redefines beauty with a personalized touch. Standout offerings at SKYN FACTORY are the innovative 7-minute brazilian and Coochie Care- a facial designed exclusively for the intimate area. It is more than a beauty treatment; it’s a transformative experience that reshapes the way clients think about self-care for their most delicate region.
Campbell shares her inspiration for opening the studio:

“I’ve always had a deep love for beauty, and my journey in the industry has been incredibly fulfilling. I wanted to create a space where I could share that love, not just through services but through education. It’s about more than just looking good; it’s about feeling confident in your skin. I believe in the power of a great environment to uplift and empower, and that’s what Cassandra Campbell Beauty + SKYN FACTORY is all about.”

Key Services at Cassandra Campbell Beauty + SKYN FACTORY:

1. Skin-focused makeup artistry for weddings, photoshoots, and special events.
2. One-on-one and intimate-group makeup lessons.
3. Master esthetic services, specializing in precision brow design and speed waxing.
4. Revolutionary 7-minute brazilian and Coochie Care- a customized facial for the intimate area.

Cassandra Campbell Beauty + SKYN FACTORY goes beyond being a conventional beauty studio; it’s an embodiment of Campbell’s vision to empower clients through education, deliver personalized services, and cultivate an environment that nurtures confidence in one’s skin. To experience the personalized beauty services at Cassandra Campbell Beauty + SKYNFACTORY, please contact:

Cassandra Campbell
Chief Beauty Architect
Cassandra Campbell Beauty + SKYN FACTORY
Visit Website at www.cassandracampbellbeauty.com

Credit: Sasha Stoltz Publicity

Your Source For Canadian News – BlackWallStreet.ca

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CeFIE’s mission is to create a resource center for educational and professional resources needed for growth and advancement of diverse populations.  A center people from different backgrounds with unique expériences and expertise can access and share resources for their personal growth and career development.  To access information crucial to help move forward their participation and contribution in today’s society. 

 The Centre For Intellectual Excellence understands that without recognition of the barriers against equitable participation there is no gain.  The need to appreciate diversity by embracing different backgrounds and experiences is key.  CeFIE welcomes and encourages diverse ideas and perspectives as a part of its mission to ensure equitable measures are put in place to support diverse populations.

Hilda Fankah-Arthur PhD is the president and founder of The Centre For Intellectuel Excellence. As someone who has worked with diverse groups internationally, she brings a broad knowledge and experience in equity, diversity, and inclusion as well as Indigenous relations in Canada. Dr. Fankah-Arthur is a Policy Advisor with the Government of Canada where she provides expert advice on policies, programs and services that impact diverse populations in Canada. 

Dr. Fankah-Arthur previously worked with the Government of Alberta and was a Principal Instructor/Lecturer at the University of Alberta. Dr. Fankah-Arthur, together with the CeFIE team, in partnership with the WODIL Centre will be holding the Fourth World Diversity in Leadership (WODIL) Conference. The annual Diversity & Inclusion conference will be held July 3-5, 2024, at the Best Western Premier Hotel & Conference Centre, Calgary Alberta. Canadian TV Personality Arisa Cox will be hosting. The theme for this year’s event is “Advancing ESG through Sustainable I.D.E.A Initiative.”

Discussions will be held on the opportunities available when environmental, social, and governance (ESG) principles are integrated with inclusion, diversity, equity, and accessibility (I.D.E.A) in a sustainable manner.  This year’s WODIL conference will reflect on a shared vision for a more responsible and inclusive future. Past speakers have included, Julia Gillard (Former Prime Minister of Australia) Dr. Jewel Taylor (Vice President of The Republic of Liberia) Dr. Cindy Blackstock (Exec. Director, FNCFCS) Margaret Trudeau (Former First Lady of Canada and Mother of current Prime Minister) & Martin Luther King Jnr. III.  CeFIE’s annual conference is host to 2000 experts, corporate leadership, government officials, research professionals, community leaders, and graduate students from around the world.

The World Diversity in Leadership Conference, July 3-5, 2024, The Best Western Premier Calgary Plaza Hotel & Conference Centre, 1316 33 St NE, Calgary, AB T2A 6B6.       diversityconference.ca

Follow Centre For Intellectual Excellence (CFIE):

https://www.instagram.com/cefie_canada/

https://www.facebook.com/CefieCanada

https://www.youtube.com/@CefieCanada

Credit: Sasha Stoltz Publicity

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In the wake of Federal Minister of Finance Chrystia Freeland’s unveiling of Canada’s 2023 Fall Economic Statement (FES), a paradigm shift emerges. Unlike the previous Spring 2023 budget, this statement stands out for its resolute inclusion of explicit spending measures tailored to combat the housing and affordability crisis gripping the nation.

The FES reflects the government’s commitment to addressing these issues by preparing to unveil a series of affordability policies. It’s a collaborative effort, working hand in hand with stakeholders to shape the upcoming year’s budget. This renewed focus underscores the Liberals’ dedication to core priorities like housing affordability and the overall cost of living while maintaining fiscal prudence.

A notable highlight in the statement is the allocation of an additional $15 billion in new low-interest financing, slated to commence in 2025–26. This funding, earmarked for the Apartment Construction Loan Program (formerly known as the Rental Construction Financing Initiative), aims to amass over $40 billion in loan funding, ultimately leading to the creation of more than 30,000 new homes across Canada.

Furthermore, a substantial allocation of $1 billion over three years, commencing in 2025–26, has been earmarked for the Affordable Housing Fund. This fund aims to bolster non-profit, co-op, and public housing providers in constructing over 7,000 new homes by 2028, a pivotal step towards addressing the pressing housing shortage.

Another noteworthy addition in the updated plan is the extension of HST removal eligibility to co-operative housing corporations engaged in long-term rental accommodation. These corporations, akin to new purpose-built rental housing projects, can now leverage this provision, provided they meet the prescribed conditions.

Canada’s 2023 Fall Economic Statement presents a strategic blueprint for addressing the critical challenges of housing affordability and cost of living. Stay informed as these measures unfold, aiming to reshape the real estate landscape and provide sustainable solutions for Canadians seeking affordable housing options.

Understanding the trajectory of these updates is vital as they shape the country’s real estate narrative, influencing decisions and paving the way for a more inclusive and accessible housing market for all Canadians.

Written by: Realtor Sean Findlay

The post Canada’s 2025 Real Estate Plan: A Focus on Housing and Affordability appeared first on Black Wall Street Canada.

Last month, Canadian home prices encountered a setback due to increased interest rates, marking the first decline in five months according to the latest Teranet-National Bank Composite House Price Index.

The index, which monitors home prices across 11 CMAs based on observed or registered sales at least twice, experienced a 0.4% drop on a seasonally adjusted basis between September and October. Before seasonal adjustments, there was a 1% slip in September (following a 1.3% decrease the month before), signifying the second consecutive monthly decline.

Teranet and National Bank attribute these declines to a broader slowdown in the resale market. They point to rising interest rates, worsened affordability concerns, and a less vibrant job market as key factors contributing to this shift.

Market conditions have relaxed nationwide, resulting in an increase in the months of inventory to 4.1 in October. Although this level mirrors pre-pandemic figures, it remains lower than the historical norm, according to a press release accompanying October’s report.

While the composite index presents a weighted average of observed or registered home prices in various Canadian cities, specifically Victoria, Vancouver, Calgary, Edmonton, Winnipeg, Hamilton, Toronto, Ottawa-Gatineau, Montreal, Quebec City, and Halifax, Teranet and National Bank track prices in a total of 31 Canadian cities. Of these, 58% experienced some degree of softening in home prices.

Toronto (-1.6%), Edmonton (-1.2%), Vancouver (-1.1%), Ottawa-Gatineau (-1.1%), Saint John (-5.3%), Trois-Rivières (-3.3%), and London (-2.5%) saw month-over-month declines in home prices, whereas Montreal (+3.7%), Halifax (+1.1%), Winnipeg (+1.0%), Moncton (+4.6%), Kingston (+3.8%), and Peterborough (+2.6%) recorded increases.

The press release anticipates further price declines in the upcoming months, citing persistently high interest rates and a less favorable economic context as challenges for the sector, despite the historical demographic growth.

On a year-over-year basis, the index showed a 2.8% increase last month. This rise was attributed to gains in Halifax (+12.5%), Victoria (+6.5%), Quebec City (+6.3%), Moncton (13%), and Sherbrooke (9.4%). Conversely, Edmonton (-3.6%), Ottawa-Gatineau (-0.5%), London (-2.1%), and Barrie (-0.9%) experienced declines in home prices compared to the previous year.

Written by Realtor Sean Findlay

The post Almost 60% Of Canadian Markets Saw House Prices Lag In October appeared first on Black Wall Street Canada.

1. Rising Unemployment Rates:
   • Canada saw its unemployment rate ascend to 5.7% in October 2023, a slight rise from 5.5% in September 2023. This uptick underscores a cooling national economy, despite the addition of 18,000 jobs last month. The sectors of wholesale, retail trade, and manufacturing witnessed a decline in employment, whereas construction, and information and culture and recreation sectors added jobs.
2. Bank of Canada’s Rate Stance:
   • In a bid to curb surging inflation, the Bank of Canada has pursued an aggressive rate-hiking path since March 2022, increasing interest rates 10 times and spiking its benchmark rate by 475 basis points. However, in light of the slightly easing labour market, the Bank chose to leave rates unchanged in October.
3. Economic Ripple Effects:
   • This moderation in job growth signals that the economy is beginning to feel the strain of the central bank’s rate hikes, which is mirrored in the recent gross domestic product (GDP) data showing an economic regression in Q2 2023, with a further downturn anticipated for the third quarter.
4. Hourly Wages and Inflation:
   • Despite the economic headwinds, average hourly wages saw a 4.8% annual increase, albeit at a slower pace compared to the previous month, indicating a complex wage-inflation dynamic.
5. Mortgage Landscape:
   • These economic metrics directly inform the mortgage landscape. A stable interest rate for now may present a conducive environment for potential buyers, while the rising unemployment rate might entail a cautious approach in mortgage approvals.
6. Our Guided Approach:
   • As always, we are here to traverse these economic waves together. Through our comprehensive 3-step plan, we are dedicated to understanding, assessing, and executing tailored mortgage solutions that align with both current economic realities and our clients’ short and long-term goals.
7. Looking Ahead:
   • Monitoring these economic indicators closely, alongside the Bank of Canada’s monetary policy, will be crucial in adapting our strategies to ensure we continue to provide optimal mortgage solutions and advice.

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