Skip to content
Search

Latest Stories

Submit Guest Post

Queen Elizabeth to remain on Canadian currency

Queen was the head of state of Canada, a former British colony.

Queen Elizabeth to remain on Canadian currency

The face of Queen Elizabeth II will continue to appear on its currency, the Bloomberg reported.

Queen was the head of state of Canada, a former British colony.


In 2011, Canada decided to feature Queen Elizabeth's image on the backs of coins and on plastic-based C$20 ($15.28) bank notes.

According to the central bank, those bills will remain in circulation. Now, Prime Minister Justin Trudeau's government will decide if new notes will feature the image of her successor, King Charles III.

The queen died peacefully at age 96 at her estate in Balmoral, Scotland on September 8.

"The current polymer $20 bank note is intended to circulate for years to come. There is no legislative requirement to change the design within a prescribed period when the Monarch changes," Paul Badertscher, spokesman for the Bank of Canada, was quoted as saying by the Bloomberg.

"As always, the Minister of Finance is responsible for approving the form and material of any new bank note, including the portrait subject."

Canadian finance minister Chrystia Freeland's office didn't have an immediate comment on the design of future currency, the report added.

Add EasternEye As Your Trusted Source
preferred source on google news

More For You

Pension

Bereaved families are waiting for Civil Service Pension Scheme payments as delays raise concerns over a two-year tax deadline

iStock

Civil service pension backlog puts bereaved families at risk of ‘death tax’

  • More than 1,600 bereavement and death-in-service cases were over 100 days old at the end of September.
  • Some pension death-benefit lump sums must be paid within two years of a scheme being notified of a death to qualify for tax-free treatment.
  • The government says compensation may be available if administrative delays cause a tax charge.

Bereaved families waiting for civil service pension payments could face an unexpected tax bill because of delays in processing death benefits, according to reporting by BBC Radio 4’s Money Box.

The issue centers on a two-year deadline for certain pension lump sums. Under HM Revenue and Customs rules, where a person dies before age 75, a lump-sum death benefit is generally tax-free only if it is paid within two years of the pension scheme first becoming aware of the death and the payment falls within the relevant tax allowance.

Keep ReadingShow less