7 h. ago These are the tax credits and deductions most commonly missed by Canadians

There are only a few more weeks of tax season left in Canada, so don't forget to claim any missed benefits, credits, and deductions.According to a new H&R Block Canada survey, nearly two out of three Canadians (65 per cent) report that they did not know they could amend their tax returns from the last 10 years to claim benefits, credits or deductions they were entitled to but missed."There are likely hundreds of thousands of Canadians who have left money on the table from missed credits and benefits from prior tax returns," said Yannick Lemay, H&R Block Canada tax expert, in the report."Meaning, if you filed a tax return and missed a credit or deduction you were entitled to in years past, you can go back to the Canada Revenue Agency [CRA] and amend the previous assessment."Despite knowing they can amend their prior tax returns, the report found that a whopping 72 per cent of Canadians say that amending it is "too much hassle."Lemay says the tax prep company's free ...

Economics

11 h. ago Carbon taxes on businesses still make life more expensive, Canadians say

44% of Canadians believe businesses pass on all of the carbon tax costs to the consumer

Economics

14 h. ago Inflation cooled to 2.3% in March as gas prices fell, StatCan says

OTTAWA — Canadians got a break on inflation in March even without a tax holiday as Statistics Canada says the pace of price increases slowed last month.  The agency says the annual inflation rate was 2.3 per cent in the month, down from 2.6 per cent in February.  StatCan says a drop in the price […]

Economics

4 d. ago Amid ‘Buy Canadian’ surge, should travel at home get you a tax credit?

Canadians are looking within their borders to travel, but some say governments making travel tax credits available could spur even more trips.

Economics

4 d. ago Liberals promised the carbon tax would reduce emissions, but emissions went up

The Trudeau government tried to sell Canadians the carbon tax was an environmental solution. It just made them poorer

Society

5 d. ago Can’t pay your tax bill? File your return on time and don’t panic, experts say

OTTAWA — For many Canadians, filing their taxes often means a refund, but for some, tax time can mean a bill that’s unexpected or more than anticipated. If that’s you and you don’t have the cash on hand to pay the bill, tax experts say not to panic. Ottawa-based accountant Marlene L. Grant says you […]

Economics

8 d. ago Canadians can expect April tax benefit payments earlier than usual

Eligible families can expect to get Canada's child tax benefit a little earlier this month.The monthly Canada Child Benefit (CCB) payment usually comes on the 20th of each month unless it lands on a weekend or statutory holiday.April 20 is a Saturday, and April 18 is Good Friday, so parents will get CCB deposits three days early on the 17th.The Canadian government increased the child tax payments by 4.7 per cent in July 2024, which was the beginning of the new benefit year. The maximum benefit for children under six increased by $350, from $7,437 to $7,787. For children aged six to 17, it increased by $295, from $6,275 to $6,570.Families can look forward to another increase in the child tax benefit payment in July 2025, but it will not be as big as last year's raise.The Canada Revenue Agency (CRA) says parents can expect a 2.7 per cent bump, bringing the annual base benefit for children under six from $7,787 to $7,997 ($666 monthly) and from $6,570 to $6,748 ($562 monthly) for child...

Economics

1 week ago Hochul Says Trump’s Tariffs Are Already Hurting New York Economy

President Donald Trump’s sweeping tariff push is already hitting New York’s economy, with falling Canadian tourism and cross-border shopping driving down sales tax revenue, Governor Kathy Hochul said.

Economics

1 week ago Canadians are about to get their second GST payment for 2025

Canadians are just days away from receiving their second GST credit payment of the year.The goods and services tax/harmonized sales tax (GST/HST) credit is a tax-free quarterly payment. Its purpose is to help families with low and modest incomes offset the taxes they pay.Eligible Canadians will see extra cash in their bank accounts on Friday, April 4.Are you eligible for the GST payment?According to the government, those eligible are at least 19 years old and a Canadian resident for income tax purposes a month before the Canada Revenue Agency (CRA) makes the payment.If you are under 19 years old, the government says you must meet at least one of the following conditions during the same period:You have (or had) a spouse or common-law partnerYou are (or were) a parent and live (or lived) with your childParents who share custody may be eligible for half of the credit for that child.If your income is equal to or exceeds the amounts below, you or your family won't qualify for the credit....

Other

2 w. ago Celiac Canada Calls on Federal Politicians to Implement Tax Reform for Gluten

Gluten-Free Food Prices are No Joke! Mississauga, ON, April 01, 2025 (GLOBE NEWSWIRE) — Mississauga, ON. March 26, 2025 – Celiac Canada is urging federal politicians to support a crucial tax policy change that will make life more affordable for the estimated 400,000 Canadians living with celiac disease. The organization is calling for improved tax […]

Politics

2 w. ago Pierre Poilievre unveils capital gains tax break ahead of election

Campaigning in the GTA Sunday, Pierre Poilievre proposed a tax cut to boost Canadian investment, counter U.S. tariffs and strengthen the economy ahead of the April 28 election.

Economics

2 w. ago Saskatchewan removal of industrial carbon levy reveals $430M budget hole: NDP

Saskatchewan is set to become the first Canadian province to go “carbon tax free," but the NDP say it leaves a giant hole in the latest budget.

Economics

2 w. ago All the government money payouts Canadians can get in April 2025

Canadians can expect some serious cash from the provincial or federal government in April 2025.Inflation rose for the first time in six months in February, from 1.9 per cent to 2.6 per cent. This was also the highest spike in eight months.Housing costs are high, and food continues to get more expensive. With the U.S. and China both slapping high tariffs on Canada, economic uncertainty is high.Canadians should take advantage of any benefits program for which they are eligible. Luckily, there are many opportunities to get money from the government next month. Make sure your direct deposit is enabled as you look forward to the following:GST/HST credit — April 4The second quarterly instalment of the goods and services tax/harmonized sales tax credit will be paid out to Canadians on April 4. It aims to help families with low and modest incomes offset the taxes they pay.According to the government, you could get up to:$519 if you are single$680 if you are married or have a common-la...

Politics

3 w. ago Carney dismisses tax cuts while showcasing Liberal’s tax relief

Liberal plan boasts $825 annual savings for average Canadian family, while dismissing Tory tax cuts as extreme

Economics

3 w. ago Canada’s Poilievre Promises Deeper Income Tax Cut Than Carney

Canadian Conservative Leader Pierre Poilievre is promising a deeper income tax cut than Liberal Leader Mark Carney, as the two politicians battle to attract affordability-minded voters in a tight election race.

Economics

3 w. ago We’re still being deceived about the carbon tax: Full Comment podcast

It’s finally dead or is it? New Liberal Leader Mark Carney reduced the carbon-tax rate to zero before calling an election, but as Franco Terrazzano tells Brian Lilley, there are still questions about what Canadians will pay. Terrazzano, federal director of the Canadian Taxpayers’ Federation, is author of the new book, “Axing the Tax.” […]

Economics

3 w. ago Franco Terrazzano: Canadians needs tax cuts, not retaliatory tariffs

Knee-jerk retaliatory tariffs will likely have little effect other than causing Canadians more pain

Economics

3 w. ago Letters, March 20: Liberals are gaslighting Canadians on carbon tax

Does Canada need more oil development? Vote in our daily poll! Liberals are congratulating themselves for pausing the carbon tax. Ironically, are they not the ones who brought in the punishing tax? Talk about gaslighting Canadians. Curtis Radcliffe (They learned the error of their ways?) Say what, grits? A message for Liberals: You blamed every […]

Economics

3 w. ago Here's how the end of carbon tax in Canada will affect your everyday expenses

With the carbon tax set to be scrapped next month, Canadians may be wondering exactly how much this will affect gas and food prices in Canada.According to an analysis from Desjardins Economics released on Tuesday, Canadians can expect a drop in prices at the pump immediately, but it may take a while for their grocery bills to go down.The report comes after Prime Minister Mark Carney announced that the federal government would be axing the consumer carbon tax in Canada as of April 1. The final Canada Carbon Rebate (CCR) will still be issued that month, but you'll need to get your affairs in order to cash in.Desjardins predicts that inflation will be about 0.7 per cent lower in April 2025 than it would have been if the carbon tax stayed.More specifically, the report suggests that removing the price of pollution will drop gas prices by about $0.18 per litre on April 1 in provinces where the fuel charge is applied.In comparison, the carbon tax in Canada was...

Economics

3 w. ago Trudeau’s two pensions worth $8.4 million, taxpayers federation estimates

'Taxpayers shouldn’t be on the hook for a second pension,' Franco Terrazzano says of extra stipend for heads of state

Economics