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The GST/HST Credit Has a New Name — And It's Paying 25% More

  Sunday, July 19, 2026 If you've relied on the quarterly GST/HST credit, that name is gone for good. Here's what replaced it, how much more it's worth, and whether you need to do anything to get it. For years, the GST/HST credit quietly landed in millions of Canadian bank accounts every three months — a modest, tax-free top-up meant to offset sales tax on everyday purchases. As of this month, that program no longer exists under its old name. It's now the Canada Groceries and Essentials Benefit (CGEB) , and the federal government has permanently increased the payment by 25%, locked in for five years. If you already qualified for the GST/HST credit, you don't need to apply for anything new. But you should know what changed, because the numbers — and the timeline — are more involved than a simple rename. What actually changed The CGEB was first announced by the federal government in January 2026 as part of a broader affordability push, and it became law with the passa...
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Powell’s Words Rattle Investors

 

US stock futures took a tumble today after Federal Reserve Chair Jerome Powell poured cold water on hopes for an early interest rate cut. As we head into a busy week of corporate earnings, investors are closely watching the impact of Powell’s statements on the recent market rally. S&P 500 ( ^GSPC) futures slipped 0.2%, signaling a pullback from the benchmark’s record-setting run, Dow Jones Industrial Average ( ^DJI) futures shed roughly 0.2%. and  Nasdaq 100 ( ^NDX) futures dropped 0.1%.

Powell, in a recent “60 Minutes” interview, reiterated the central bank’s cautious approach to rate cuts. He emphasized that the “danger of moving too soon is the job’s not quite done” in quelling inflation. Traders responded by scaling back their bets on rate cuts, not only for March but also for May, according to the CME FedWatch Tool.

US bonds sank, with the 10-year Treasury yield ( ^TNX) rising about six basis points to 4.08%. This move reflects the market’s recalibration of expectations following Powell’s remarks.

Investors are now turning their attention to quarterly results. Last week’s triumphant reports from Meta (META) and Amazon (AMZN) fueled the recent rally. Today, McDonald’s (MCD) disappointed with sales falling short of Wall Street estimates. The coming days will be crucial as a wave of corporate earnings reports determines whether the rally can sustain its momentum.


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