Whats New in Canada-Update on CA

[mayankpandya]

New tougher Canada mortgage rules spark home buying

Canada, 23rd March: Canada’s new and stricter mortgage rules are coming into effect immediately and they are spurring up first time house buyers, several experts have revealed.

The new Canada mortgage rules that became effective on 18th March are not clear to the home buyers in Canada. In such a scenario, they seem to be acting in a haste to cash in on the changes introduced in the mortgage regulations in the nation.

Buyers on a home-buying spree—

According to Ryan DeLuca from Sotheby Real Estate, buyers are oblivious of what the changes in the mortgage rules real mean. And this is causing a spike in home buying in Canada, adds DeLuca. Doug Hayden, a realtor based in Calgary, feels that this has led to a biggest hike in the starter house market.

In terms of sales, the month of January this year has been significantly higher than the previous year and keeping in view the official sales figures, February registered even higher sales volume, adds Hayden. It showed around ten percent higher sales, he maintains. No wonder, many Canadians like Black McCullough are in a haste to grab their first home since they feel it is actually the right time to buy their first homes now.

What are the changes in the Canada mortgage rules?--

• The first change introduced in the Canada mortgage rules includes shorter periods of amortization. For government-insured mortgages, the maximum amortization period has been reduced to 30 years from the earlier period of 35 years.

This rule is for those Canadian home buyers who make a down payment lower than 20 percent of the total home value. And with the new ruling for Canada mortgages coming into effect, mortgages for greater than 30 years will not be able to get qualified for insurance. This also means a full-stop on getting mortgages extending for a period greater than three decades.

• Contrary to the earlier Canada mortgage rules which qualified a family with an annual income of $75,000 and zero debt for a mortgage on a house worth around half a million, the new tougher rules require a Canadian family to have an annual income of $85,000 for becoming qualified for a home mortgage in Canada.

 

[mayankpandya]

$22 million funding for helping new immigrants find jobs in Canada

Canada, 29th March: To help newcomers find employment in Canada, a funding of $22 million has been announced by the Canadian government.

The Bridge to work program is aimed to help foreign-trained Canadian citizens as well as permanent residents awaiting the recognition of their foreign credentials in Canada.

This has been stated by a press release of the Canadian government. The government of Canada revealed its next phase of the Economic Action Plan and the immigrant training program is a part of this plan.

According to Jason Kenney, Canada’s immigration and citizenship minister, said the program will assist skilled immigrants in Canada enter into the workforce market of the nation and integrate successfully into it.

Employers are a vital link for successful settlement of newcomers in Canada and hence, the program will engage them in the Bridge to Work program, Kenney added.

Till date, the program for helping newcomers get jobs in Canada has already assisted around 35,000 immigrants in nearly 200 immigrant settlement programs since its beginning way back in the year 2007-08.

It may be worth mentioned that the federal funding for helping new immigrants’ settlement in Canada has gone up three times since the year 2006.

The Bridge Training program will be extended a federal funding of $CA 12 million in the year 2011-12 and a further funding of CA$10 million in 2012-13. It’s the result of the successful collaboration between the Canada government and the Government of Ontario.

The projects that enable newcomers in Canada obtain training needed for getting work in Canada in both regulated and non-regulated employment or a Canada license in any regulated profession will be covered for providing federal funding.

The Bridge Training program will help newcomers get jobs in Canada in accordance with their requisite qualifications, skills and work experience.

The Canadian government feels its continuous commitment in not only just attracting foreigners into Canada but also help in retaining them and in successful integration into the communities of Canada. The government has been providing funding to several projects that enable new immigrants merge into Canadian societies. Services of language training as well as settlement services are the results of the federal funding for such programs in Canada.

 

[mayankpandya]

Immigrants on Marriage Visa got to stay in Long Relationship for their PR

The Canadian government is coming up with a provision that those coming into the country should be in legitimate relationship for more than 2 years to earn a permanent residence status.

Recently there has been increase in number of sham marriages, which is one of the popular modes to acquire Permanent residency status by the aspiring immigrants to the country.

To keep a check on the such migrants, Harper government have recently proposed that those who are coming to Canada to be with their spouses or partners, must continue their relationship here for at least 2 or more years before they get legitimate to their permanent residency status.

Canadian government is taking strong steps to curb marriage and immigration frauds. This step is proposed by the government regulate the migration by those people who use immigration laws for their fraudulent purposes.

The spousal sponsorship is one the most fraudulent process for bringing in the illegal immigrant. In some of the cases both of the partners have understanding between them to carry it out, or in other the sponsor thinks it to bona fide, but the sponsored one just wanted the benefit and breaks up after settling in the new country.

Taking this step will also bring Canada’s immigration policies matching up with the other countries such as Australia, United States of America and Britain, who had already implemented 2 year relationship conditions to keep a migration check in their countries.

As per this proposal the sponsored fellow should be in the continuing relationship with one who is sponsoring for the years or more following the day time of sponsored’s arrival. Until then the new migrant spouse will be granted only conditional permanent residence status.

If any case the relation is not continued, then the person may have to leave Canada and go back to the native land.

But it is expected that such a proposal would be hurtful for the women who live with the violent relationships. It is going to be terrible for the ladies who are abused by their husband or family members, has many of them don’t report about it to the police.

For such situations the notice further says there would be a process for allowing genuine spouses to come forward and would continue to live in the country against this enforcement.

After this proposal by the federal government the government website was flooded with the further queries on it.

The government also expects suggestions and feedback from the general public on this matter, so that they could implement it in the most beneficial way for them.

 

[mayankpandya]

Looming shortage of IT skills in Canada -Study

Canada, 30th March: Canada’s information and technology sector is soon going to face severe shortage of workforce, findings of a latest study have warned.

The study undertaken by ICTC(Information and Communications Technology Council) titled Outlook for Human Resources in the ICT Labor Market, 2011-16, shows that Canadian firms are going to recruit around 106,000 new workers for the job positions of ICT between the years 2011 and 2016.

Its being estimated that Canada will be facing shortage of available workforce with requisite IT skills.

The report by the industry group based in Ottawa is the third report in the series of the analysis of the labor market in Canada.

The information technology and communications technology sector of Canada is going to reach its pre-recession employment levels and this is going to push Canadian companies to look for increased number of IT professionals possessing required IT skills along with a business degree.

Chief executive of the ICTC, Paul Swinwood, said that Canada is facing lack of supply of IT workforce.

The nation will be confronting some serious recruitment problems in the coming times due to extreme shortage of IT personnel with several years of work experience in the related field, the study cautions.

This is due to falling or almost constant rates of enrollment for computer engineering and software programs along with a declining rate of immigration of foreigners possessing requisite ICT skills and qualifications in the recent times while the demand for such workers is going up, the study maintains.

President of Microsoft Corp’s Canadian division, Eric Gales, said that the firm was knowing of the scarcity of available talent in the nation and has been working to increase its reach. The nation is going to struggle with the limited number of skilled IT people, he added.

Different set of IT skills will be in demand-

The jobs have undergone changes and so has the requirement for professionals with required IT skills, Mr. Swinwood added. Way back in the year 2001, there was a peak demand for ICT professionals having programming skills for writing software programs, he said.

However, as of now, the skills in demand will be different from the ones needed almost a decade ago, stated a global talent management leader, Evelyn Ledsham. Ledsham is working with Open Text Corp., a firm based in Ontario, Waterloo, which is the largest software firm of Canada.

Demand for IT personnel with flexibility to gain expertise in several domains—

Canada will favor those who are open to get expertise in digital media, e-finance, e-health etc, the study maintains.

 

[mayankpandya]

Harper likely to win with big majority

This time it is expected that Harper will be winning with majority, as the public is confident about his vision that will lead country to the way of progress.
As elections is just round the corner in Canada, an exclusive poll held for Postmedia News suggests that almost 50 per cent of its respondents, still find that Stephen Harper would form the finest Prime Minster for the coming years.

On being asked by the respondents whom do they find most trustworthy out of all the leaders, as much as of 42 per cent of the total respondents showed that they full confidence over Harper and hence poled out to be as most trustworthy of all.

He has also been ranked as first amongst all the other competing leaders for having most supporting vision for the country. 45 per cent of the respondents felt that he have the vision to take countries to the heights in the coming years.

The public have developed confidence over Harper after five years of his service to the country. The public have noticed the work done by him on the hard edges and formed a good image by making people more comfortable as compared to their before situations. Now the Harper has altogether better knowledge about the situations in the country.

According to the poll, only 49 per cent of the respondents felt that the conservative leaders may turn out to be the best prime minster of the country. Followed by the NDP leader, in whom only 34 per cent placed their trust while only 17 per cent respondents felt that Liberal leader could contribute as the finest amongst all. Minority of 9 per cent of the poll respondents had a view that Bloc Quebecois leader as their choice to run the country’s administration.

As per the poll 39 per cent of the respondents believed that Harper has strong agenda to further support the country, whereas 46 per cent felt that Michael Ignatieff, the Conservative leader doesn’t have an agenda as strong as him. Ignatieff could attain the public’s confidence, as they really don’t get what a former Harvard University Professor exactly wants to do. He has been ranked quiet lowly when it came to the trustworthiness of the leader only 15 per cent of the respondents could show confidence in him.

The leaders were ranked quiet similarly when Canadians were asked as to who they most thought and wanted to be prime minister for the right reasons.

As when the question was turned to who have the brightest vision for the country after Harper, 30 per cent respondents polled for Layton, followed by Ignatieff with 18 per cent.

 

[mayankpandya]

Jobs and Quality of Life – Two Major Issues in Canada elections

This starkly beautiful country north of United States of America is going to the polls in May 2011.

If you are living in Canada you will be voting for your new government on 2nd May this year. Being informed and educated will help you to choose the right person at the helm of affairs. As per reports jobs and quality of life are two major issues concerning voters in Canada right now.

Contradictory reports on the subject of job creation with free-trade talks with the European Union and India can be quite confusing to the common man. The Globe and Mail writes, “….part of an effort to demonstrate how the party (Conservative Party) intends to foster economic growth and jobs by expanding foreign trade….” The Montreal Gazette reports, “The Canada-European Union free trade agreement … will bring less than half the benefits originally projected ($6 billion now rather than the projected $12 billion) when negotiations were announced in 2008, according to an EU-commissioned analysis.”

Debates of this sort can put you in a quandary and mislead you. The best thing to do would be to dig for more information and come to a conclusion before you go the polls. This concerns you and you alone; jobs are what keep the people of any country alive and kicking. A healthy economy is reflected in the society and the opposite is also very evident everywhere.

Jobs and sources of income help in enhancing the quality of living for every one. This is another point of debate among voters and the people at the top. Providing a decent life for your family and yourself is always the prime reason for working and earning money. Education of children is getting expensive by the day and yet you strive hard to be able to give your kids the maximum affordable.

A good quality of life also means a decent roof above your head. With the new mortgage laws find out where you stand. Discuss among friends and colleagues and relatives – get to know what their prerogatives are, know what is most important for you and your countrymen. After all, it is you and people like you who will face whatever comes in the next few months and years.

The best part about this election is that each party has a state of the art website of its own. You get to know each party’s agenda and its promising policies – now is the time to read between the lines with still some time in hand. Prior to making up your mind it is important to remember no one person makes the government – it is the collection of the party members.

In the past Canada has been voted “The World’s Best Country to Live in” and the five cities of this country – Toronto, Ottawa, Montreal, Calgary and Vancouver were praised for high levels of “personal safety and security” and for being in a politically stable country, according to a report from CBC News. Keeping all this in mind make a choice you will not regret ever.

 

[mayankpandya]

To promote employment, Harper Government announces tax breaks for small business

Harper government has announced tax breaks for small business for the overall development of the Canadian economy.
For helping to regain the Canadian economy fully, from the depression it has suffered in previous years, Harper government has now announced an incentive of one year tax break for the budding small enterprises.

According to the announced plan, government will provide one-time credit up to $1000 against the increase in small employers EI premiums in 2011. This will help to lessen the cost of employing more workers to the business leading to cost effective ways of hiring. Harper added, “If a small business pays around $3000 in EI premiums in 2010, they would now just have to face an increase of $800 in 2011 in their EI premium, which is even less than half as compared to previous year. Hence the proposal will prove fruitful in the near future.”

The plan is expected to benefit approximately 5, 25,000 employers, reducing their payroll cost hugely by $165 million, especially for those whose EI premium in last year was $10,000 or below.

The reduced tax rates come as a relief for small businesses, as through it they are expected to earn more income as before which was gone in taxes. The plan will also be effective in increasing the incomes of small business holders as well as the employees.

Another advantage of this plan that it is expected to increase in job creation. Usually, as each employee counts up for around $300 to $ 400 addition to the EI premium to its small business employer, but this year the employers can hire about 2 to 3 employees without any increase in their EI premiums. Hence the employers are expected to employ more people this year. “Creating and protecting the existing jobs and helping financial conditions of Canadian families is our main concern”, Harper adds on.

The plan has encouraged protecting of the existing jobs and creating new ones for the unemployed. It will also help to regain the jobs which were lost during the recession periods and improve their standards of living which have gone down during the trouble years.

The government has further reduced federal capital tax, other corporate taxes so as to encourage small businesses to invest in this, expand themselves using the incentives given and hire more and more people by creating new jobs.

The plans and changes brought up in the budget will provide Canada a significant leap in the global economy.

 

[mayankpandya]

Canada stock register sharp rise on reports of Job Growth

It has been noticed that increase in Canada stock market is leading to rise in jobs.

A sudden hype in Canadian dollar has been seen in against the greenback, the loonie rose to 102.95 US cents from 0.35 of cent. This rose came as a surprise in spite of some lowering in oil prices recently.

The oil prices went down when according to a report US crude oil supplies went up unexpectedly. This proposes that rising of the price may crimp the demand of it.

As per the last week oil prices went up as $106, due to pro- democracy revolts in Arab countries, there was a threat to cut off the crude oil supplies from Saudi Arabia and Iran which are its major manufacturers. This further drowned the energy markets levels for that time being.

Recently the may contract with New York Mercantile Exchange has closed down at 52 cents at $104.27 US per barrel of crude oil.

Lately as the June bullion contract in New York registered a high rise from $7.40 to $ 1,424.90 an ounce, it led to hype in Gold prices. A fall sharp fall prices have come up in Copper, with the May contract at the Nymex, it fell down from 7 cents to US $4.27 a pound.

As according the data provided by the ADP company payroll, US dollar was registered lower than even Euro. The euro sought a rise to $1.4127 U.S. at late day trading on Wednesday from $1.4088 late Tuesday. The Euro rose up higher as compared to the US currency, after a statement given by a European Central Bank, that the bank is planning to increase the rates gradually rather than in one go. It showed that US private sector has been successful in creating approximately 201,000 jobs since last month. It proves is has been in expectations with as per the March non-farm pay roll reports, that was been released on last Friday.

The Central bank has raised their interest rates to keep a check on increasing inflation, and the hype in the rates of government bonds leads to increase the demand for the currency it is linked to country or area.

The Industrial Product Price Index, which is purely dependent on primary metal products, coal products and petroleum has increased up to 0.7 per cent February, as stated by the Statistics Canada in Canadian economic news. The Raw Materials Price Index has also noticed a rise by 1.8 per cent during last month, due to increase in prices of vegetable products non-ferrous metals and animal products.

Economists are expecting the economic growth by 0.5 per cent by the December this year.

 

[kavya]

Mayank,
Doing great job of keeping all updated here
Best Wishes,
Kavya

 

[mayankpandya]

Thanks Kavya,

Do visit here or post.

Regards,
Mayank

Mayank,
Doing great job of keeping all updated here
Best Wishes,
Kavya

 

[mayankpandya]

Canada stock register sharp rise on reports of Job Growth

It has been noticed that increase in Canada stock market is leading to rise in jobs.

A sudden hype in Canadian dollar has been seen in against the greenback, the loonie rose to 102.95 US cents from 0.35 of cent. This rose came as a surprise in spite of some lowering in oil prices recently.

The oil prices went down when according to a report US crude oil supplies went up unexpectedly. This proposes that rising of the price may crimp the demand of it.

As per the last week oil prices went up as $106, due to pro- democracy revolts in Arab countries, there was a threat to cut off the crude oil supplies from Saudi Arabia and Iran which are its major manufacturers. This further drowned the energy markets levels for that time being.

Recently the may contract with New York Mercantile Exchange has closed down at 52 cents at $104.27 US per barrel of crude oil.

Lately as the June bullion contract in New York registered a high rise from $7.40 to $ 1,424.90 an ounce, it led to hype in Gold prices. A fall sharp fall prices have come up in Copper, with the May contract at the Nymex, it fell down from 7 cents to US $4.27 a pound.

As according the data provided by the ADP company payroll, US dollar was registered lower than even Euro. The euro sought a rise to $1.4127 U.S. at late day trading on Wednesday from $1.4088 late Tuesday. The Euro rose up higher as compared to the US currency, after a statement given by a European Central Bank, that the bank is planning to increase the rates gradually rather than in one go. It showed that US private sector has been successful in creating approximately 201,000 jobs since last month. It proves is has been in expectations with as per the March non-farm pay roll reports, that was been released on last Friday.

The Central bank has raised their interest rates to keep a check on increasing inflation, and the hype in the rates of government bonds leads to increase the demand for the currency it is linked to country or area.

The Industrial Product Price Index, which is purely dependent on primary metal products, coal products and petroleum has increased up to 0.7 per cent February, as stated by the Statistics Canada in Canadian economic news. The Raw Materials Price Index has also noticed a rise by 1.8 per cent during last month, due to increase in prices of vegetable products non-ferrous metals and animal products.

Economists are expecting the economic growth by 0.5 per cent by the December this year.

 

[mayankpandya]

Harper Promises physical fitness tax benefits for adults

Keeping the health issues as his priorities,Harper is formulating policies for health care system of the country

As the 2nd May, Election Day is rounding the corner, the new policies and promises are being formulated by the contesting candidates, to the people. Through this they want them to know their plan of action the way they will work if elected.

As the different parties are accusing Stephen Harper for not taking care of health issues of the country, he is formulating future policies basically concentrating on the health policies, which would in turn benefit the public in future.

Recently Harper has been promising another physical fitness tax benefits for adults, if he again gets elected as Prime Minister. He announced this benefit at a campaign stop. The campaign began from Ottawa and headed further to the Ontario.

Through this they will be effectively pledging it with the ongoing benefits of tax credits which are available for the children fitness. Under this scheme all adults that is grown up Canadians, would get tax benefits for gym memberships and also other athletic expenses which will help public to look after their health. They will encourage for taking up physical activities of their interest without having financial problems.

In the first week of campaign he also promised a tax cut for the families having kids, and also said if reelected he would allow parents of the kids who are under 18 to share up to $50, 000 of their income tax.

The current plan regarding Children fitness tax credit, which has been started since 2007, is allowing parents of the kid to claim up to $500 per year, for the eligible expenses they have incurred for each of their child who is under the age of 16 years. Such tax benefits ensure that the parents encourage their kids for sports and other recreational activities without any financial constraints.

The cost for this scheme is not very clear right now. But the cost of ongoing children fitness tax credit is around $115 million as per the reports of Federal Finance Department of Canadian government.

According to the Tories, it is expected the announced and promised scheme would not be able to into effect until the federal budget is balanced. But looking at the current scenario of the government it will only be possible in coming four years

Tories are also expecting to support their promises with more tax reliefs with a raft of program.

 

[mayankpandya]

Steep Correction Expected In Canadian Real Estate Market

The real estate market in the country of Canada has been quite patchy this season.

If the entire index is studied in detail, there have been a considerable number of ups and downs faced. If a detailed study of the Canadian real estate market for January is made, it is seen that the index has touched 100. Since the month of January, the home price index has wobbled considerably.

If the trend for the last ten years is also seen a lot of ups and downs have been experienced. Between the years of 2000 to 2010, the wobble has been felt considerably which has created a great confusion in the minds of the investors

In the month of August 2010, the home prices in the country of Canada peaked at quite a high but since then the trajectory has taken a downslide. The last six months have been quite a dry period for the housing market of the country. As per the latest information which has been received through confidential sources in the Canadian press, quite a bit of steep correction is expected in the market. The market has been very wobbly over the years which have created quite a major concern among the investors.

A major correction is obviously round the corner and the leading economists of the country are planning in advance for a better situation. As per the information received from the leading economists of the country, there has been a lot of borrowing experienced over the years.

This has created a great anxiety among the investors who were keen to roll out funds in the market. The central bank of the country is quite perturbed about this issue and sent a warning signal to the investors community.

The level of debt has risen tremendously in the country and this is not at all a good sign for the future economic situation of the nation. As per the prediction of some of the leading economists of the nation, the country has gone through a turbulent phase as far as the real estate market is concerned.

Although the prices of the houses have gone up, the same has not been reflected in the income of the citizens. But as per the future plan of the economists, a revival or correction seems to be on the cards which will be a positive sign for the economic health of the nation.

 

[mayankpandya]

Canada Helping in tightening the Border Securities for New Zealand

Canada has signed a pact with other countries to help them provide border securities at their ends.

Now days it has been seen that immigration fraud has been increasing day by day. Some countries have come forward to keep a check on it by extending help to each other.

Recently it has been seen that Canada’s immigration authority has been extending help to other countries to for strengthening their border securities.

Being a part of Five Country Conference (FCC) biometric program including authorities from New Zealand, Canada, The United States, Australia and the United Kingdom.

The pact was signed to a check on the border securities across the various countries and to watch the trespassers.

Canada is now helping New Zealand for checking its border securities by aiding it with various advanced biometric tools which will help the officials to identify the problematic persons.

This will help the officials to catch targeted the crime groups and illegal immigrants who tends to create problem for the country.

“It will provide new and advanced tools to the New Zealand officials to identity frauds; as well it will help to process genuine travelers faster by checking the finger prints details, when needed, with the help of Canadian Counter parts.” As said by Immigration minister Jonathan Coleman.

He further added “The ability to check biometric data with international partners will help immigration in New Zealand to identify people having false identity which are trouble creator for them.”

Using these identity tools and equipments will be helpful in evading the frauds which the country officials are facing recently.

According to the agreement made also mean that information on asylum claimant and even the illegal migrants can also be accessed by the other four countries who have also signed the pact with the each other, for the people who don’t provide with their real identification.

Through this development both the countries will able share information regarding this particular matter. “This initiative will help both Canadian and New Zealand immigration authorities, as by working together they will be able to identify frauds more effectively and get catch of those who try to enter these countries without permission”, says Jason Kenney, Minister of Citizenship and Immigration Canada commenting on the development.

As confirmed by the authorities, all the arrangements confirm that the respective Privacy Acts of the members of the pact and fingerprints of the citizens of FCC will not be shared to the others.

New Zealand has also signed the similar agreements with Australia and United Kingdom last year

 

[mayankpandya]

New Immigration rules to crack down ghost immigration Consultants

New Immigrations rules have been proposed to crack down the crooked immigration consultants.

As there is increase in number of frauds due to dishonest immigration consultants, who victimized innocent aspirants who want to go to abroad.

To keep a check on such ghost immigration consultancies and their illegal activities, a new legislation has been introduced in Canada.

The act is formed to govern the rules for the operating consultancies, those who ask for the fees for their advice regarding immigration. These consultancies take an advantage of loop holes present in the system and guide people with the sham procedures of immigrating to other countries.

To regulate these frauds a brand new set of body is proposed recently by the federal immigration minister. This step is proposed to limit the abilities of ghost consultancies to organize crime and takes an advantage over the laws and acts implemented by the government.

They have planned to form an own regulatory body consultants to provide quality advices, representations to the seekers. It is mainly targeted to the undeclared ghost consultancies and others who form the part of unacceptable activities relating to immigration.

This new regulation will protect the people’s interest and help them to build their trust over the immigration system of the country.

This act and body is expected to come into force in coming months of this year. “Bill C-35 was firstly introduced as for the Cracking Down the crooked consultant Act, which has now received as Royal Assent will be soon coming into the force”, said by Jason Kenney, Citizenship, Immigration and Multiculturalism Minister.

It is believed that once it came into force, then it will be offence for anyone other than an authorized immigration consultant to give advice to the seekers and carry out various procedures for them in legal way and would guide them properly. This will help to put a stop on the ghost consultancies, which victimized innocent people and earn money for the wrong ways shown by them.

To ensure further check on it the law has doubled the fine money from $50, 000 to $ 1, 00,000 for giving unauthorized advice to the seeker. And summary conviction has been increased to $20, 000 from $10, 000 plus the other penalties also.

According to the government such consultancies are not only threat for the aspirants but also to integrity of the immigration system of the country. It will serve as a successful strategy to protect people from frauds who want to immigrate to Canada and settle.