https://padlet.com/amanatgrewal50/hek6byyhzttik3dm Amanat kaur en-us 2023-04-06 21:04:57 UTC 2023-04-06 23:59:21 UTC hello@padlet.com amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546637964 In this padlet i will discuss about how loans and interests effect you either you are taxpayer or consumer.]]> 2023-04-06 21:10:19 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546637964 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546642178 https://www.ig.ca/en/insights/how-do-rising-interest-rates-affect-you


This website states that increasing interest rates has both positive and negative effects on consumers . The positive effect is that when interest rates get high, thẹn consumer’s interest will drop down and they tend to spend less or buy less as a result, the demand of that product will decrease too which automatically decreases the price of that product which reduces the inflation rate eventually.The negative effect is that as the interest rates increase the monthly payments called mortgages will increase and as a result, it will become more difficult to buy things.
I have chosen this website because there is option to speak with an IG advisor directly whenever u need help at the time when interest rates will increase. I found that very useful and meaningful.

Website 2
https://www.canada.ca/en/revenue-agency/services/tax/prescribed-interest-rates/2023-q2.html
This websites shows the prescribed tax rates calculated by CRA(Canadian revenue agency)for the year 2023 specifically . It also has shown the applied tax rates from the year 2006 to the taxes. It has shown that interest rates paid on non-corporate overpayments would be higher as compared to corporate overpayments.
I have chosen this website because actually CRA is the agency that deals with all taxes in canada so from here we will get correct information which would be helpful for everyone.

]]> 2023-04-06 21:22:35 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546642178 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546656051
https://www.canada.ca/en/revenue-agency/services/tax/prescribed-interest-rates/2023-q2.html
This websites shows the prescribed tax rates calculated by CRA(Canadian revenue agency)for the year 2023 specifically . It also has shown the applied tax rates from the year 2006 to the taxes. It has shown that interest rates paid on non-corporate overpayments would be higher as compared to corporate overpayments.
I have chosen this website because actually CRA is the agency that deals with all taxes in canada so from here we will get correct information which would be helpful for everyone.]]> 2023-04-06 22:02:04 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546656051 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546659606 https://www.taxpayer.com/newsroom/ontario-debt-interest-payments-set-to-soar-in-2023
This website demonstrates that the ontario’s debt interest rates are continuously rising and probably be increase in 2023 also . It has shown that the interest rates has risen about six times this year. At this time, its important to be financially independent and responsible rather than paying high interest rates.

I have chosen this website because it has given insight to the debt interest rate because lot of us are today nớt financially independent we are paying a high amount of interest rates these days.]]> 2023-04-06 22:13:42 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546659606 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546661847 https://beta.ctvnews.ca/local/toronto/2022/2/22/1_5791753.amp.html
This website shows the result of the survey that how canadian see increasing interest rates . According to survey, 55 %of them are really worried about increasing interest rates and others think that it would be a great financial trouble for them. Apart from it, 35% see it will results in bankruptcy .
Out of them 16% said there situation is poor but 18% said they are good .
I have chosen this site because it provides a good estimate of how people see increasing interest rates as good or bad.]]> 2023-04-06 22:20:41 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546661847 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546664028 https://youtu.be/u78StHpYgf0
The video shows how interest rate and inflation rate are linked to each other.How banks ỉn canada increases the interest rates.There is two types of inflation supply inflation and demand inflation . Supply inflation is when supply is good but demand is low so the banks reduces thé interest rates so people will buy more to increase demand however in other the demand is too high then banks will increase interest rates so people will buy less and spend less in order to balance economy of the country.]]> 2023-04-06 22:28:22 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546664028 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546665560 https://youtu.be/8T0mwe6BrdA
This video shows that if interest rates get high or low how it will effect your budget . Right now, increases interest rates gave birth to recession currently, its very difficult to survive here in canada because the prices has increased terribly and there is no good income if i take example of international students its very hard for them to survive now because they don’t have jobs and they can’t afford to even but a grocery.]]> 2023-04-06 22:33:54 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546665560 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546679257 https://youtu.be/-TXpzPhuE5A
This video shows the results of the survey that how inflation these days is influencing Canadians. It shows that 22% of them are out of money right bow they don’t have any savings to survive in this tough time. ]]> 2023-04-06 23:14:03 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546679257 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546683357 https://youtu.be/x3xe_VTBEeA

This video has provided with the news that due to high inflation these days bank of canada has decided to let their interest rates be constant at 4.5%. Although , maintaing this interest rate would not help in lowering grocery prices but will eventually help as the interest rates would not increase inflation will nớt grow continually.]]> 2023-04-06 23:24:48 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546683357 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546688807 https://gtdebtsolutions.com/2022/03/04/price-shock-how-increasing-inflation-and-interest-rates-are-jolting-canadian-consumers/



This image shows what inflation means for Canadians and shows how much people have savings or how much people can’t afford.]]> 2023-04-06 23:37:42 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546688807 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546695060 The image depicts that whether the inflation is high right now but it will cool down . Although, basic food prices are high but inflation will drop down.]]> 2023-04-06 23:48:13 UTC https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546695060 amanatgrewal50 https://padlet.com/amanatgrewal50/hek6byyhzttik3dm/wish/2546699688 #I have learned so much from these topic as i was totally unaware about how tax rates are calculated and how interest rates and economics is linked to each other.
#If i would provide real life example the best example is i am international student here and i don’t have good income right now so it applies to my life also that we need to spend less at this time due to inflation and has shown many surveys right now that most of people are out of money right now. So, its time to be financially responsible nớt financially unstable.
#The most important information that need to be passed on is that everyone should spend less right now otherwise it will be very hard to survive because most of us even don’t have backup to do basic expenses.

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