504 – 2024 Federal Budget: Unintended Consquences?

Doug and Ted sit down to chat about the 2024 federal budget. Believe it or not Doug actually read the entire budget! They discuss taxes, what a budget means, making tax filing automatic, government single sign-in portal, reducing CRA call centre wait times, NSF fees, free and affordable bank accounts, cell phone charges, credit reports, and payday loans. They also get into detail about how credit for paying rent will impact Canadians.

Timestamps:

00:00 Documentary announcement

02:37 Why should you care about the Federal budget?

03:00 Taxes

06:28 What is a budget?

08:07 Automatic tax filing for low-income Canadians

10:29 Single sign in portal for government services

11:35 Reduce CRA call centre wait times

12:07 NSF Fees

14:23 Free and affordable bank accounts

17:47 Cell phone fees

18:38 Credit for paying rent

24:12 Credit utilization for rent

26:10 Student housing

27:45 Credit bureaus

29:03 Payday loans

29:55 Final thoughts

Related Links:

Should Rent Be a Part of a Credit Score?: https://www.hoyes.com/blog/should-rent-be-a-part-of-a-credit-score/

Federal Budget 2024: https://budget.canada.ca/2024/home-accueil-en.html

TurboTax Personal Tax Calculator: https://turbotax.intuit.ca/tax-resources/canada-income-tax-calculator.jsp

Bretton Woods and Related Agreements Act: https://laws-lois.justice.gc.ca/eng/acts/b-7/index.html