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Macklem Just Raised the Inflation Alarm: What Monday’s CPI Means for Your Wallet

  Canadian Money Brief  |  Sunday, October 18, 2026  |  Written ahead of Monday’s 8:30 am ET inflation release Bank of Canada Governor Tiff Macklem has just told Canadians what the central bank is about to say on October 28: its inflation forecast is going up, and by a lot. The reason is oil. With the Middle East conflict dragging on, shipments still curtailed and refinery capacity damaged, he said the risk that inflation broadens and lingers has gone up. Speaking to reporters from Bangkok on Saturday, he framed the coming decision as a simple question: will inflation drift back toward 2% on its own, or does the Bank need to raise rates to nudge it there? Monday is the first real clue. Here is what is landing, what economists expect, and what it could mean for your gas bill, your grocery cart, your heating costs and your mortgage. 3.0% August CPI, year over year 3.2% September consensus (Reuters poll) 2.25% BoC policy rate, unchanged for nearly a year Oct 28 Rat...
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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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