Canada’s Inflation Rate Falls Along With Gas Prices

As gas prices plummeted in March, Canada’s annual inflation rate also fell to its lowest point in nearly five years. On a year-over-year basis, energy costs dropped 11.6% in March – the largest one-month fall since November of 2008. Moreover, gas prices last month were 21.2% lower than they were…

Government Extends Tax Deadline in Response COVID-19 Pandemic

The federal government has announced that Canadians will have extra time to file and pay their taxes this year. In response to the COVID-19 pandemic, the tax filing date has been postponed to June 1 for individuals. The deadline for trusts has been moved to May 1. The Canada Revenue…

Canadians Finding Unclaimed Cheques on Canada Revenue Agency Website

Many Canadians are finding uncashed government cheques worth hundreds – and in some cases thousands – of dollars through a little-known feature on the CRA website. The CRA recently introduced a tool in the My Account portal that allows users to collect and cash in on any unclaimed cheques, dating…

2020 Federal Tax Changes Offer A Measure of Relief

Several tax changes effective this year are aimed at relieving Canadians’ financial burdens, in a development that many citizens will welcome as they prepare their tax statements. Early in January, finance Minister Bill Morneau declared that middle-income households will receive a slight reduction in federal income tax. Canadians had been…

New Wave of CRA Phone Scams Reported

The Ontario Provincial Police (OPP) at West Parry Sound have obtained numerous complaints from locals concerning a Canada Revenue Agency (CRA) scam that is said to have occurred recently. The complainants stated that they were contacted by a caller claiming to be from the CRA. The caller asserted that they…

CRA’s Call Centres get a ‘D’ Grade From Business Advocacy Group

The Canada Revenue Agency’s tax information call centres were given a ‘D’ grade in a scathing report from the Canadian Federation of Independent Businesses. Long wait times and inaccurate information being provided were cited as the reasons for the low grade. The report also points out that the CRA performed…