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Although nearly a quarter of Canadians have been a part of the gig economy, 66% of gig workers were not aware of new rules requiring platforms to report users’ income to the Canadian Revenue Agency (CRA). This is according to the latest survey from H&R Block.

"In light of the new federal legislation, the [CRA] is able to compare what gig workers report their income to be from digital platforms against what the digital platform reports on their behalf," Yannick Lemay, H&R Block Canada tax expert, said in a statement.

"Despite this, many Canadians still appear tempted not to declare all their gig-related income, which carries significant risks and is breaking the law. The good news is that there are a multitude of tax benefits and credits that gig workers can claim to put money back in their pockets."

Nearly half (45%) gig workers took on gig work or a side hustle due to the increased costs of living.

Understanding gig work and taxes

Gig workers reported not being forthcoming with what their income was come tax time. More than a quarter of respondents (28%) said they didn’t declare all gig income when they filed their taxes last year. Now that tax filing season is in full swing for income earned in 2024, 30% said they weren’t planning to declare all-gig related income. Among gig workers, more than a third said they were willing to risk not declaring ‘any’ gig work related income.

However, once respondents learned of the CRA’s new rules requiring gig platforms to report user information and income to the agency, many had a change of heart.

H&R Block’s research revealed that two-thirds of gig workers were not aware of these new rules. When they learned about the new rules, 71% of gig workers said they were more inclined to declare their gig income. However, more than a third said despite learning of these new rules, they are still not inclined to report all gig income.

This exposes the reality for many gig workers that the tax implications around their source of income is not entirely clear to them. In fact, more than a quarter reported that they don’t have a clear understanding. Meanwhile, 37% say they don’t fully understand any nuances between being a gig worker versus being classified as self-employed for tax purposes.

The increasing reality of gig work

Most gig workers (90%) indicate thier gig work is a second income to their primary employment, versus 10% who say it’s their sole income. Overall, gig-related income represents an average 24% of total income among gig workers.

Gig-related income represents total income for 10% of Canadian gig workers; up to 20% of income for 69% of gig workers; 205 to 50% of income for 16% of gig workers and between 50% to 99% for 15%.

As well, there is a shift in how gig workers are increasingly open about side hustle with employers. A majority (60%) of gig workers who say their primary employer is aware of their side hustle, compared to 49% a year ago.

In contrast, this year’s study reveals that 40% of gig workers say that their primary employer isn’t aware.

Survey methodology

The study was conducted by H&R Block in French and English from February 12 to 13, among a nationally representative sample of 1,790 Canadian members of the Angus Reid Forum.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Given the recent wildfires in L.A. and ever-escalating costs from extreme weather events across Canada annually, concern is mounting of the potential impacts on major urban centres. A new KPMG survey reveals nine out of 10 Canadian business leaders are concerned about the potential for an urban climate disaster in the country.

"As wildfires rip through parts of Manitoba and northwestern Ontario, and after what we witnessed in L.A., it no longer matters where you live – whether it’s in Canada’s remote boreal forest or in the middle of a major city – the growing intensity and frequency of extreme weather events makes everyone vulnerable," Roopa Davé, a Vancouver-based partner and KPMG Canada’s national climate risk leader, said in a statement.

Taking precautions

The devastating wildfires that swept through Los Angeles earlier this year are sparking alarm far beyond California. North of the border, a significant majority of Canadian business leaders are taking the warning signs seriously and making changes.

According to a recent survey of 351 Canadian business decision-makers, 91% say they are now more concerned about the impact of extreme weather on their operations. The fires have served as a wake-up call, prompting more than two-thirds of respondents to begin actively preparing for climate-related disruptions.

The level of concern is striking: 61% of business leaders describe themselves as “extremely concerned.” Of that group, nearly half (43%) have already implemented precautions. Another 31% say they are “somewhat concerned,” and within that segment, a quarter (25%) are also taking preventative steps.

These worries are grounded in experience. Many of these businesses felt the sting of climate impacts last year. Nearly seven in ten (68%) reported a hit to their bottom line due to extreme weather:

• 30% said their profits dropped by 6% to 10%
• 14% saw losses between 11% and 25%
• 6% endured profit declines exceeding 25%
• Another 18% experienced smaller setbacks — up to 5%

As climate risks move from distant threat to daily business reality, Canadian companies are recalibrating their risk strategies, because for many, doing nothing is no longer an option.

Investing in the future

Since nearly half of respondents say their costs rose significantly, and just over half experienced interruptions to their supply chain, many are taking steps to mitigate future calamities that may arise.

Specifically, 53% are investing in infrastructure modifications to withstand extreme weather. This may include retrofitting buildings to be more heat-resistant, embracing adaptive architecture or incorporating permeable materials and green infrastructure to manage stormwater runoff and reduce flooding, according to Davé.

Nearly eight in 10 are investing in data, analytics and technology solutions to identify, monitor or mitigate climate risk.

"The increased likelihood and severity of extreme weather events means we can’t let our guard down," said Leon Gaber, National Lead for KPMG in Canada’s critical infrastructure resilience and emergency management practice.

"Whether disaster strikes in remote areas or in urban centres, companies and governments must continuously evaluate and update emergency planning and procedures to incorporate lessons learned and best practices.”

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

The Calgary Stampede, running from July 4 to 13, 2025, is not only a cultural celebration, but also a significant economic engine for Alberta. With its blend of world-class entertainment, culinary innovation and community spirit, the event invites residents and visitors to experience the “Greatest Outdoor Show on Earth” — all while fueling downtown restaurants, filling hotel rooms and driving millions into local businesses.

Sheryl Crow headlines Oxford Stomp

On July 11, 2025, Grammy-winning artist Sheryl Crow will headline the 35th annual Oxford Stomp at Prince’s Island Park in Calgary. Joining her are Canadian rockers The Sheepdogs, along with Dear Rouge and Hotel Mira. This milestone event not only offers a stellar lineup but also supports a good cause, with proceeds benefiting the Calgary Food Bank.

The Oxford Stomp is Calgary’s longest-running corporate event and one of the city’s most anticipated outdoor music festivals. Since its inception in 1982, the event has grown significantly, attracting thousands of attendees each year. In past editions, the Oxford Stomp has hosted over 12,000 guests, raising substantial funds for local charities through the Rotary Club of Calgary.

Attendees can expect a vibrant atmosphere with live performances, gourmet food options, and a variety of beverages. The event also offers VIP experiences, including private areas with stage views, picnic tables, shaded seating and exclusive bar services.

Tickets for the Oxford Stomp are available through the official website and authorized ticket vendors. Given the popularity of the event and the impressive lineup, tickets are expected to sell out quickly. Early purchase is recommended to secure attendance at this iconic Calgary celebration.

A taste of the unexpected

If there’s one thing the Calgary Stampede does as boldly as bronc riding, it’s food. The midway has long been a playground for the culinary curious, where deep-fried meets daring and outrageous becomes irresistible, and 2025 is no exception.

This year’s new lineup is as imaginative as ever. Foodies can sink their teeth into wagyu exquisite poutine, or bite into a Skittle dog. Yes, you read that right. It’s a hot dog. With Skittles. Because, why not?

For those craving seafood with a twist, the spicy salmon nori taco and lobster tornado offer coastal flavour with midway flair, while the Spam-pede bao reimagines a retro favourite in a fluffy Asian bun.

Of course, culinary experimentation is nothing new at the Stampede. In recent years, visitors have been both intrigued and amazed by dishes like the $100 Dog – Jalapeno Cheddar Gut Buster (yes, really), ketchup and mustard ice cream and the Peanut Butter Pickle Dog. The 2023 menu included over 50 new food creations, while 2024’s standouts included the Cowboyaki, a crispy teriyaki bite packed with meat floss and seaweed, and the Spider Bao, a golden-fried soft-shell crab drenched in garlic salted egg sauce.

Love it or leave it, the Stampede midway serves up more than snacks. It’s a feast for the adventurous spirit, and a perfect reminder that Calgary’s greatest show on Earth doesn’t just happen in the rodeo arena.

Rodeo thrills and western traditions

No visit to the Calgary Stampede is complete without experiencing the heart-pounding action of the rodeo. From July 4 to 13, 2025, the world’s largest outdoor rodeo returns to Stampede Park, showcasing top-tier athletes and animal competitors in a series of events that celebrate skill, strength and the rich heritage of the Canadian West.

Each afternoon at 1:30 p.m., cowboys and cowgirls face off in events such as bull riding, barrel racing, steer wrestling, saddle bronc, bareback, tie-down roping and the newly introduced breakaway roping.

These competitions not only highlight the athleticism of the participants but also pay homage to the traditions of ranching and cowboy culture that define the region.

The Stampede Rodeo is renowned for its high stakes, with a total prize pool of $2.17 million up for grabs. Each event builds towards Showdown Sunday, where the top competitors vie for the championship title in front of a packed grandstand.

Beyond the rodeo arena, the Calgary Stampede honours its western roots through various cultural exhibitions and events. The Indigenous Relay Races, introduced in 2017, showcase traditional horsemanship skills, with teams of riders performing intricate maneuvers that have been passed down through generations. The Lady Warrior Race, added in 2023, highlights the strength and agility of female riders in a thrilling bareback race around the track.

Whether you’re a seasoned rodeo fan or a first-time attendee, the Calgary Stampede offers an unforgettable experience that captures the spirit of the West. With its blend of competition, tradition and community, the rodeo is a testament to the enduring legacy of Calgary’s cowboy culture.

Economic impact and community engagement

The Calgary Stampede is more than a beloved cultural celebration — it’s an economic powerhouse that fuels Alberta’s prosperity every summer and beyond.

In 2024, the Stampede shattered attendance records with nearly 1.48 million visitors pouring through its gates over 10 days, breaking the previous record set in 2012. That wave of foot traffic translated into an estimated $540 million in economic activity across the province, with Calgary itself benefiting from roughly $282 million of that total. From hotel rooms and restaurants to transit and local attractions, the ripple effect was felt far beyond the Stampede grounds.

But the economic impact doesn’t end when the dust settles in the rodeo arena. Stampede Park is a year-round venue that hosts more than 1,200 events annually, drawing over four million people and generating consistent economic momentum throughout the calendar year.

The Stampede also plays a key role in local employment. Each year, it creates more than 3,500 seasonal jobs, many of them filled by young people entering the workforce for the first time. These roles offer not only paycheques, but valuable experience in customer service, logistics and event operations.

In a province often defined by its boom-and-bust economic cycles, the Stampede stands out as a reliable and robust contributor to Calgary’s economic resilience — one that blends tradition with tangible financial benefits for thousands.

Plan your visit

Tickets for the 2025 Calgary Stampede are available now, with a range of options depending on what you’re looking to experience. The event runs from July 4 to 13, and given last year’s record-setting attendance, if you haven’t booked your trip to the Stampede yet, it’s time to take the bull by the horns and start planning.

Details on ticket prices, daily schedules, and venue maps can be found on the official Calgary Stampede website. Whether you’re a returning visitor or planning your first trip, it’s worth checking out what’s new this year and considering weekday visits or advance bookings to avoid crowds and last-minute price spikes.

Sources

1. Calgary Stampede

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

What’s more resilient during tough economic times than a grocery store? So, it’s not surprising when analysts remain bullish on Costco Wholesale Corporation (NASDAQ: COST) stock, despite the company’s mixed quarterly results.

For Costco (NASDAQ:COST) shareholders, the good news was that revenue beat estimates for the long-standing grocery warehouse chain; unfortunately, earnings fell short of market expectations.

Despite the mixed results, private investor and U.S.-based analyst Keith Fitz-Gerald, continues to see opportunity in the Costco brand.

In an interview with CNBC, Fitz-Gerald stated: “I think we’re going to see a good jump in comparable sales, and I think we’re going to see a very resilient membership, particularly now when people’s wallets are stretched and fear is running high.” Costco’s robust business model, characterized by a membership-based revenue stream and a focus on essential goods, positions it as a defensive stock in uncertain times — and a stock Fitz-Gerald, “cannot imagine not owning.”

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Costco’s resilience in economic downturns

One big reason why analysts favour Costco (NASDAQ:COST) stock is because of the brand’s “membership lock-in,” explained analysts at Bernstein, a U.S.-based private wealth management firm in a recent interview. They noted that its membership-based model and emphasis on consumer staples enable it to capture market share when macroeconomic conditions worsen. They state that Costco is among the top companies poised to endure economic challenges due to these factors.

The analysts at global wealth manager UBS echoed these sentiments, highlighting Costco’s ability to navigate uncertain macroeconomic backdrops better than many retailers. They attribute this to Costco’s flexibility in product offerings and the high-margin revenue from membership fees, which provide a buffer against economic headwinds.

Costco’s membership model offers a stable revenue return

One reason for the bullish outlook for Costco stock is the firm’s membership model. Costco’s membership fees are a significant contributor to its profitability. In fiscal year 2024, membership fees accounted for over 65% of the company’s net operating income.

This recurring revenue stream offers stability, especially during economic downturns when consumers seek value.

The company’s high membership renewal rates further underscore customer loyalty. As of the first quarter of fiscal 2025, the renewal rate in the U.S. and Canada stood at 93%, with a worldwide rate of 90.5%.

Costco’s stock performance amid market volatility

Costco’s stock has demonstrated resilience during market downturns. For instance, during the COVID-19 pandemic in 2020, while the S&P 500 experienced a significant decline, Costco’s stock recovered swiftly, reflecting investor confidence in its business model.

As of May 27, 2025, Costco stock was trading around US$1,013, reflecting a year-to-date increase of approximately 10%. (For Canadian investors not interested in U.S.-traded stock, the TSX-traded Costco stock (COST.TO) was trading around C$46.30.

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Strategic flexibility and operational efficiency

Costco’s operational model allows it to adapt quickly to changing economic conditions. The company’s Chief Executive Officer (CEO) Ron Vachris, emphasizes the company’s ability to manage challenges, stating that their "treasure hunt" strategy and strong supplier relationships help maintain low prices despite potential tariffs and supply chain disruptions.

Bottom line

Costco’s consistent performance, strong membership model, and strategic flexibility make it a compelling option for investors seeking stability during economic uncertainties.

Sources

1. Investopedia: These 3 Retailers Could Be Best Positioned To Weather ‘Macro Storm,’ Bernstein Says (March 25, 2025)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

You’ve hit your late 50s, you’ve got a nice cushion in your Registered Retirement Savings Plan (RRSP) and suddenly you find yourself wondering if that cushion will provide you with enough comfort to retire today.

The promising news is that yes, you may be able to retire today at 58 years old with $970,000 in your RRSP. But you’ve got enough life experience now to know there’s always a bit more nuance than that.

Retiring earlier means you’ll need to wait a couple years before you can start claiming Canada Pension Plan (CPP) benefits. And it means needing a solid plan on your retirement expenses, health care and even taxes.

Don’t have that all set in stone? Then you may have to delay retirement.

Here’s what to consider before handing in your notice.

Get a clear picture of your financial situation

Deciding if it’s possible for you to retire will depend on whether you have a clear idea of how you’ll cover your expenses if you stop working. Since you can’t claim CPP benefits just yet, the $970,000 in your RRSP needs to be truly enough to cover all of your expenses until you can.

Many retirees use a common retirement budgeting tactic, the 4% rule, to ensure there’s enough money from their retirement accounts when making withdrawals, even when adjusted for inflation. With $970,000 in a RRSP, you can typically withdraw $38,800 each year before taxes. Of course, your retirement income may be higher if you have more assets held in other retirement accounts.

Look at your spending now and whether this will change once you retire. Aside from costs like food, clothing and transportation, take a look at what you owe as well.

For example, do you still have personal loans you need to pay off? Will it be a few years before you no longer have a mortgage? If so, you need to factor in your monthly payments in your retirement budget.

Compare your spending with your retirement income — is it enough to live on? Do you have other income sources like investments from brokerage accounts or pensions (assuming you can tap into them right now)?

If not, you may need to hold off until you have more in your nest egg. Or perhaps when you can start to claim CPP benefits if you’ll need to rely on that extra boost to afford your retirement expenses.

Debt Hack: If you still have debt, consider lowering the interest cost on that debt with a lower-interest loan. To find low interest rate loans quickly, use a rate consolidator such as Loans Canada. By working with multiple lenders across Canada, Loans Canada can offer competitive rates with better terms.

Making early retirement work for you

Still want to retire early? Here’s where getting crystal clear comes in handy: If you’re not clear on your income and expenses, you could be at risk of running out of money down the line.

As in, it’s still possible to make it work if you’re willing to get creative with how you can afford it.

Say you estimate your retirement expenses will be $50,000 each year and your only income source is your RRSP until you decide to claim CPP benefits when you’re 60. In this case, you’ll need to cover around a $12,000 shortfall (it’ll depend on how much you need to pay in taxes) for the next two years.

Instead of leaving your career entirely, see if you can work part-time hours or freelance for your current employer. Side hustles or gig work is another way to fill in any income gaps. Your skills may easily lend themselves to a side business idea. That way, you can free up some time to pursue your ideal retirement lifestyle while earning income.

Another option is to find ways to drastically reduce your expenses like downsizing to a smaller home, relocating to a lower cost of living area or selling one of your cars. Giving yourself that financial breathing room can take a lot of pressure off finding part-time work, or feeling that you have to wait longer before retirement is on the horizon.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

A lot of Canadians are reasonably on edge lately, with US president Donald Trump’s continued talk of annexing Canada and various tit-for-tat tariff threats lobbed back and forth across the border. That tension has been reflected in Canadian businesses, with the Canadian Federation of Independent Business (CFIB)’s Business Barometer crashing to an all-time low in March.

"Small business owners are feeling pessimistic about their business’s perspectives for the next few months or even beyond. It’s hard to make critical decisions for the long, medium or short term when so much can change within a matter of hours," Simon Gaudreault, CFIB’s chief economist and vice-president of research, said in a statement.

"No one knows when the tariff war will end, and businesses are worried the worst is yet to come."

The index dropped 24.8 index points to 25.0, which is a lower mark than at any time during the 2020 pandemic, 2008 financial crisis or even the September 11, 2001 attacks.

How is this tension affecting Canadian small businesses?

To recoup the losses caused by tariffs and the ongoing financial struggles, small businesses plan to raise prices by an average of 3.7%, an increase from 3% in February — the largest month-over-month spike in price increase intentions since the pandemic. Average wage increase plans dropped to 1.9% from 2.2% last month.

Weak small business optimism is also translating into lower hiring plans, with 19% of small firms planning to lay off in the next few months (up from 13% in February), and only 11% looking to hire.

Insufficient demand has been steadily trending upwards since November 2024, reaching a new historical high of 59% of affected small firms in March, eclipsing the pandemic high mark of 53% for this indicator.

Are there regional or sector differences?

Confidence among all sectors also fell, with hospitality (17.0), manufacturing (18.6), transportation (21.0) and agriculture (21.3) at the bottom of the scale. In addition to US tariffs, agriculture businesses are also facing 100% tariffs from China on canola oil, peas and oil cakes as well as 25% tariffs on pork and aquatic products such as lobsters.

This dramatic drop in confidence is being felt across the country, according to CFIB’s survey. All provinces registered a drop in optimism, with the three largest provinces among the most pessimistic: Ontario (23.4), Alberta (24.1) and Quebec (24.9).

"Business confidence is at abysmal levels. If this doesn’t send a strong warning signal to policymakers that businesses urgently need all the help they can get to weather this storm, including a much-improved business environment here in Canada, then I’m not sure what will," said Corinne Pohlmann, CFIB’s executive vice-president of advocacy.

Survey methodology

CFIB’s survey is based on 1,065 responses from a stratified random sample of its members, to a controlled-access web survey from March 5 to 7. Measured on a scale between 0 and 100, an index below 50 means owners expecting their business’s performance to be weaker over the next three or 12 months outnumber those expecting stronger performance.

This article Canadian small businesses’ confidence is at an all-time low amid US trade tensionsoriginally appeared on Money.ca

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

You’ve worked hard to save for retirement and the time is finally here. Now, the challenge isn’t about how you’ll spend your time. A far more pressing concern is the fear of outliving your savings, which may influence how you spend your money.

In other words, this apprehension could lead to spending less and truly enjoying your retirement. But how do you spend without anxiety when many Canadians aren’t sure how long their savings will even last.

According to Spring Financial, the average person has around $272,000 saved by the time they retire. That being said, a BMO survey discovered that 76% of Canadians are worried they will not have enough money in retirement because of rising prices. Even wealthier seniors are too scared to spend.

The answer could have to do with your mindset, and your very valid fear of running out of money. It’s hard to change your habit of saving when you no longer need to.

Here are some best practices to make sure you can enjoy your money without the risk of outliving your nest egg.

Determine a retirement budget

Having a clear spending plan in place is key now that your ‘accumulation years’ are over. Taking the time to assess your expenses can help ease your fears.

One simple task you can do right now is to track every penny you spend, and on what. That way, you can see how much money you might need for the basics and anticipate any costs that might go down or up.

For example, you plan to downsize in a few years, so your housing costs will go down. Or, you don’t travel much now, but want to in the future, so that cost will go up.

Having a better understanding of what you’ll spend during retirement will help you to see how you can safely withdraw from your retirement accounts.

Using the 4% rule — where you withdraw 4% of your portfolio in your first year of retirement, then adjust the amount for inflation in the years that follow — can be a useful guideline. However, it might not be the best strategy for you.

Instead, finding a way to get a steady source of income to cover the essentials may be the way to go.

Have a fixed source of income

The 2024 MassMutual Retirement Happiness Study found that the longer someone is retired, the less fear they have about financial uncertainty.

While there weren’t indicators as to why this may be, having a solid financial plan could help you feel more comfortable spending more.

You can do so by establishing your essential costs and making sure you have fixed income sources to cover them. Then, you look at what you have leftover to spend as your fun money.

You have several options to choose from when it comes to fixed income sources. Most Canadians will qualify for the Canada Pension Plan (CPP) and/or Old Age Secuirty (OAS). There are also fixed-income securities, such as municipal bonds, whereby you’re paid interest at regular intervals.

Annuities are another popular option. You invest in or purchase a contract backed by an insurance company. You’re paid regularly, for a specified amount of time, based on premiums paid or a lump sum payment you’ve made.

Once you’ve figured out your baseline spending — what you need to pay for housing, transportation, health care and food — you can make a plan on getting it from fixed income sources. Then, determine the amount you can withdraw safely from other sources to spend on extras, like travel.

Work with a fee-only advisor

A financial advisor can help you to assess your needs and to figure how much you can safely spend during retirement.

As you plan for retirement, consider consulting a fee-only advisor — you pay a set rate for their services but not commissions on products they sell you. Then, meeting with them once or twice a year after retiring may be enough to make sure you’re still on track.

Sources

1. Spring Financial: The Average Savings by Age in Canada – How Do You Compare? (May 5, 2025)

2. BMO: BMO Retirement Survey: Over Three Quarters of Canadians Worry They Will Not Have Enough Retirement Savings Amid Inflation (Feb 12, 2025)

3. MassMutual: 2024 MassMutual Retirement Happiness Study

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

You’re enjoying your retirement years, taking the occasional road trip to spend time with friends and family. But your car has seen better days — nearing the end of its life at 200,000 miles.

Since you haven’t purchased a car in a long time, you may be surprised at how much vehicles have changed — and how much they cost.

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Before heading to the nearest dealership, It’s essential to determine what you’re looking for in a new vehicle first.

Evaluating your finances

Take a careful look at your financial situation. You’re no longer in your income-earning years, so every penny counts. Planning for expenses outside your usual spending can help prevent you from severely depleting your retirement savings.

Start by figuring out your budget for a vehicle purchase. You can do this by reviewing your monthly retirement income and allocating a percentage towards a vehicle.

If your car budget isn’t as high as you’d like it to be, purchasing a used vehicle could save you money.

Don’t forget to estimate the trade-in value of your current car — it could help bring down the overall cost.

It’s possible to finance a vehicle after retirement, but you’ll need to factor in interest charges and any additional lender fees. These extra costs can eat into your retirement budget, so the monthly payment must be one you can easily afford.

Shopping around with different lenders is a smart way to find the best rate and loan terms based on your financial profile. Checking your credit score ahead of time can also give you an idea of which lenders are more likely to approve you.

Paying for a car in full upfront can save you money on interest. If you choose this route, consider whether you’re comfortable withdrawing a lump sum from your retirement accounts. Alternatively, you could set up a sinking fund — setting aside a chunk of your retirement income in a separate savings account until you have enough to make the purchase.

Remember to factor in ongoing costs beyond the purchase price or loan payments, such as car insurance, maintenance, and fuel.

Owning a different vehicle may result in higher car insurance premiums, so be prepared for potential increases. Fuel costs might also rise if your new car isn’t as fuel-efficient as your old one.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Choosing the right vehicle for your needs

Reliability is one of the most important factors when choosing a car. Look for a vehicle that offers the safety features you want, one that’s low maintenance and fuel-efficient. Spending less on fuel and repairs will help lower your ongoing expenditures.

Resources like Consumer Reports offer reliability ratings can give you insight into how well certain makes and models hold up over time. You can also ask trusted friends and family members for their recommendations.

In addition to financial considerations, think about your lifestyle. If you need a reliable car for running errands and visiting family, you may not need all the latest bells and whistles.

However, if you plan to be more active — going camping or taking long-distance trips — you may want to consider features that improve your safety on the road. These can include backup cameras, blind spot detectors and cross-traffic alerts.

Whatever you plan to use your car for, make sure you feel comfortable driving it and know how to use its features. A high-end infotainment system might sound nice for long trips, but if it’s challenging to use, it could end up being more frustrating than helpful.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

The return-to-office (RTO) movement is accelerating across Canada in 2025, with the Canadian federal government and major corporations rolling out RTO orders that are reshaping the work-life balance for thousands of employees.

Even large U.S.-based companies with Canadian offices, such as Amazon, Dell, JPMorgan Chase, Disney and BlackRock are pushing for increased in-office presence, leaving many workers scrambling to adjust to a reality that no longer prioritizes remote work flexibility.

The most recent announcement came from Canada’s top bank, Royal Bank of Canada (RBC). In a recent announcement, RBC will require employees to be in the office four days a week, as confirmed by a recent internal memo obtained by Reuters.

Some employers argue that returning to the office fosters collaboration and innovation, the shift is already creating new headaches for employees, particularly those in urban centres like Toronto and Vancouver.

With Canada’s largest bank now enforcing a near full-week office schedule, thousands more workers are bracing for a gruelling return to long commutes, packed transit lines, and increased daily expenses. Toronto, already one of North America’s most congested cities, could see a significant spike in travel times and transit delays as this new wave of office mandates takes effect.

Meanwhile, backlash is brewing among employees, many of whom had structured their lives around hybrid or remote work models. The added cost, time, and mental toll of commuting are emerging as major points of tension—raising new questions about work-life balance, employee satisfaction, and the long-term sustainability of rigid in-office policies.

RBC announces a return-to-work (RTO) mandate to start September 2025

RBC announced it will require employees to return to the office four days a week starting in September 2025. According to a company memo, the policy applies to most hybrid roles but excludes fully remote positions and those already based in-office full time.

RBC leadership cited the importance of “in-person, human connection” to its “relationship-driven” culture as the rationale behind the mandate. The bank emphasized that physical presence is key to collaboration, innovation, and maintaining a strong company culture. However, the announcement has triggered concern and pushback among employees, particularly around increased commuting time and associated costs.

Real reason for RBC RTO mandate

Critics believe the RBC return-to-office mandate is less about fostering culture and more about tightening control amid financial underperformance.

The RBC RTO announcement came just hours after RBC reported lower-than-expected second-quarter earnings, driven by rising loan loss provisions — a signal the bank is bracing for economic uncertainty.

Some employees suspect the leadership is using the office mandate as a tool to boost productivity and accountability following the disappointing results. According to some forum chats, internal chat groups have been buzzing with speculation that the move is a response to financial pressures rather than a genuine effort to rebuild workplace connection.

RBC is not the first to issue RTO mandates: A few big companies lead the RTO charge

Several global corporations with Canadian offices are implementing strict return-to-office policies.

Return to full-week (or almost full week) at the office

• Amazon: As of January 2025, Amazon mandated that all corporate employees return to the office five days a week, effectively ending the hybrid model introduced in 2023. There is dOffices in Toronto and Vancouver
• BlackRock: Employees of the investment firm must work at least four days per week from the office. Offices in Toronto
• Dell Technologies: Dell plans to end its hybrid work policy, mandating that employees near office locations return five days per week, beginning in March 2025. Offices in Toronto
• Disney: One of the faster companies to go back to an in-office work schedule, Disney employees returned to the office four days a week as per the statement made by CEO Bog Iger in 2023. Offices in Toronto
• Goldman Sachs: As of 2023, employees had to be back in the office full-time as corporate leaders emphasizes the office-first work culture. Offices in Toronto
• JPMorgan Chase & Co.: The banking giant has followed suit, requiring its hybrid employees to be in the office full-time starting March 2025. Offices in Toronto
• Twitter (X): Following the acquisition of X (formerly Twitter) by Elon Musk, the firm now requires all employees to work full-time from the office. Offices in Toronto

These changes signal a broader shift among employers, many of whom cite the need for stronger collaboration, improved company culture, and increased productivity as key reasons for pulling employees back into offices.

Hybrid return-to-work model

• Apple: Since September 2022, Apple introduced the 3-day-in-office schedule, where all corporate employees must work in the office on Tuesdays and Thursdays as well as on a team-chosen day. Offices in Toronto
• Canadian Federal Government: Since September 2024, public servants have been required to work at least three days per week in person. Offices in Ottawa and across Canada
• Deloitte: Employees can continue working with the hybrid model that was introduced in 2023. Offices in Toronto
• Intuit: Using a hybrid model where employees come into the office two to three days per week. To help with the costs associated with commuting, Intuit offers employees carpool ride matching, enhanced transit connections, and on-site amenities. Offices in Toronto
• Google: Google employees must be in the office for at least three days per week (and this return to work started in 2022). Offices in Toronto and Montreal
• Meta (Facebook): The social media conglomerate only requires employees to come in three days per week. Offices in Toronto
• Microsoft: Operates a hybrid work policy, which typically requires employees to come in for two or three days per week. Headquarters in Toronto
• Questrade: Operates a hybrid work policy, which typically requires employees to come in for one to three days per week. Headquarters in Toronto
• RBC: Issued a mandate for hybrid-employees to start returning to the office four days a week, starting September 2025. Headquarters in Toronto and offices across Canada
• Shopify: No mandate. This e-commerce giant embraced the remote work model and allows employees to work from anywhere. Headquarters in Ottawa
• Starbucks: The company has set a slightly more flexible three-day in-office requirement for corporate employees since January 2025. Offices in Toronto

Tough adjustment for employees

For employees in densely populated cities, the return-to-office mandates are likely to bring back pre-pandemic commuting challenges.

Commuting nightmares return

For instance, commuters in the GTA can expect a significant increase in traffic volume, with experts predicting longer commute times as thousands of professionals return to transit and highways during peak hours. The impact is expected to be felt across major transit networks, including GO Transit and the Toronto Transit Commission (TTC), both of which have been gradually adjusting services in expectation of RTO mandates.

For workers who moved to suburban areas during the work-from-home era, the abrupt shift back to daily commuting is especially daunting. Many will now need to reconfigure their routines, adding hours of travel time to their days and increasing expenses related to transportation and office attire.

Loss of work-life balance

Before the pandemic, work-life balance often felt like an elusive goal. Remote and hybrid work arrangements provided a newfound sense of autonomy, allowing employees to integrate personal responsibilities into their schedules, exercise more frequently and spend more time with family. Surveys indicate that a significant percentage of Canadian workers (79%) believe hybrid work positively impacts their well-being, with 70% stating that it has directly improved their mental health.

With full-time office attendance making a comeback, many workers are concerned about losing the flexibility that has become a crucial factor in job satisfaction. In fact, 81% of Canadian employees say flexible work arrangements influence their decision to stay with an employer or seek opportunities elsewhere.

Is there a silver lining? Claiming deductions for hybrid work

Despite the shift back to in-office work, there are still ways for employees in hybrid arrangements to find financial relief. The Canadian Revenue Agency (CRA) allows workers who perform a portion of their duties from home to claim tax deductions related to home office expenses. While employees mandated to work in-office five days a week may not benefit, those on hybrid schedules can still take advantage of these deductions.

Eligible employees may be able to deduct expenses such as:

• A portion of rent or mortgage interest (for those using dedicated office space)
• Utilities such as electricity and internet
• Office supplies, including computers, chairs, and desks

To qualify, employees must meet specific CRA criteria and obtain a T2200 form from their employer. While the deductions won’t fully offset the loss of remote work perks, they do offer some financial relief in the face of rising commuting costs.

Future of work in Canada

As companies continue to enforce return-to-office policies, the workforce is at a crossroads. While some employees welcome in-office collaboration, others view it as a step backward from the flexibility they have come to value. With the labour market still tight and talent retention a top priority, businesses that maintain hybrid options may find themselves with a competitive edge.

For workers adjusting to this new reality, strategic planning — such as negotiating hybrid arrangements, seeking tax deductions, and reevaluating commuting options — can help mitigate the impact of RTO mandates. While the work-from-home era may be fading for many, its influence on employee expectations will likely shape workplace policies for years to come.

Sources

1. Benefits Canada: 79% of Canadian employees report improved well-being due to flexibility of hybrid work: survey (Jan 22, 2025)

2. HRD: Most Canadian workers think 5 days in-office hurts wellbeing: survey (Jan 14, 2025)

3. Talent Canada: No longer a ‘perk’ – Canadians now expect flexible, hybrid work: Survey (Feb 16, 2023)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.