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5 Things to Know Today: Inflation Data, a Tariff Countdown, and a Big Energy Deal

  August 17, 2026 Inflation data lands this morning, the clock on the U.S. tariff deadline is down to two days, and a long-running provincial energy dispute is about to be settled. Here's what's moving your money today. 1. Today's Inflation Report Could Set the Tone for September Statistics Canada releases July's Consumer Price Index this morning. Economists are expecting the annual rate to tick up to roughly 2.9%, from 2.8% in June, mainly because gasoline prices swung higher again in July after the Middle East conflict pushed oil prices back up. Core inflation measures, which the Bank of Canada watches most closely, aren't expected to move much. What it means for you: A hotter-than-expected print would make it less likely the Bank of Canada cuts rates at its September 2 meeting, which matters if you're renewing a variable-rate mortgage or carrying a line of credit. A softer number keeps a cut on the table. 2. The Tariff Deadline Is Two Days Away, and Talks Are...
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What’s New in 2024 Tax Filing: Key Changes and Tips

 

As the tax season kicks off, Canadians are gearing up to file their 2023 income taxes. Whether you’re a seasoned filer or a first-timer, here’s what you need to know for the 2024 tax-filing season:

Important Dates

  • February 19, 2024: The Canada Revenue Agency (CRA) opens its portal for online tax filing. If you prefer paper filing, expect your income tax package in the mail by this date.
  • April 30, 2024: This is the deadline for most Canadians to file their tax return. Filing on time ensures timely processing of refunds, benefits, and credits.
  • June 15, 2024: Self-employed individuals (and their spouses or common-law partners) have until this date to file their returns. If you owe money to the CRA, remember to pay by April 30, 2024, to avoid interest.

What’s New?

  1. Digital Disability Tax Credit (DTC) Application Form:

    • The CRA now offers a fully digital application process for the DTC. Persons with disabilities and their medical practitioners can complete Part A of the application form online in My Account or by phone. No more printing and manual completion!
    • The applicant’s portion of the form is prepopulated with information already on file at the CRA. Once done, applicants receive a reference number for their medical practitioner to complete Part B.

  2. Changes to the T1 Notice of Assessment:

    • The T1 notice of assessment and notice of reassessment now provide clearer and more comprehensive information.
    • If you’re expecting a refund and haven’t signed up for direct deposit, you’ll receive a paper T1 notice of assessment and a separate cheque.

Remember, timely filing ensures you receive the benefit and credit payments you’re entitled to. 


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