Business bankruptcies totalled 2,621 for the year, up from 1,942, while proposals filed by businesses amounted to 781, up from 538 in 2021.
The federal regulator says the sectors that saw the biggest increase in insolvencies were accommodation and food services businesses and the construction industry. The sectors that saw the biggest drop were mining and oil and gas extraction, and finance and insurance.
Insolvency filings by consumers in 2022 totalled 100,184, up 11.2 per cent from 90,092 in 2021.
The consumer figures included 24,586 bankruptcies, down from 27,461 in the previous year, while proposals rose to 75,598 compared with 62,631 in 2021.
Was your 2022 tax refund larger than you expected it to be? For many, this likely comes as a pleasant surprise. However, overpayments are likely the result of a mistake on your part or the Canada Revenue Agency. If you don’t amend your returns and the overpayment isn’t returned, you could end up in hot water.
As economic conditions make it harder to qualify for a mortgage, Canadians are increasingly looking to alternative lenders, particularly amid interest rates. CTVNews.ca looks at why Canadians are seeking private lenders and the potential benefits and risks attached to them.
The federal government's latest TFSA contribution limit increase took effect this year. On CTVNews.ca, personal finance contributor Christopher Liew outlines eight tips on how Canadians can get the most out of this popular savings account.
There are going to be some changes to Canada's tax brackets as we move into 2023. These changes could impact how you’re taxed when you file your 2023 income tax returns next year.
Food bloggers and cookbook authors say meal-planning and simple recipes can help home cooks put together filling and tasty dishes on a budget -- an increasingly stressful challenge amid rising food prices.
The Better Business Bureau says Canadians fell for home improvement scams the most in 2022, in a report highlighting the riskiest scams and how much money they cost Canadians.
A man looks at his bills in this stock photo. (RODNAE Productions/Pexels)
