Thursday, July 9, 2026 Every July, a wave of federal benefit payments resets for the new benefit year — and 2026 brings one of the biggest shifts in years. Between a permanent 25% boost to the old GST/HST credit, a fresh Canada Child Benefit increase, and the largest quarterly OAS bump of the year, millions of Canadian households will see different numbers land in their accounts this month. Here's what actually changed, and what to check in your own CRA account. The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) . It's not a new program from scratch — it runs on the same CRA infrastructure and eligibility rules — but the payment amounts are 25% higher, and that increase is locked in for five years. The first CGEB payment went out on July 3, 2026. Under the new structure: A single individual with no children can receive up to roughly $679 per year (about $170 per quart...
Canada’s main stock index faced a significant decline on Tuesday, with losses in financial, industrial, and telecom stocks outweighing strength in energy and base metals. Simultaneously, U.S. stock markets also experienced a downturn.
Key Points:
- S&P/TSX Composite Index: The Canadian benchmark index closed down 110.15 points at 22,075.10.
- Dow Jones Industrial Average (DJIA): In New York, the DJIA was down 396.61 points at 39,170.24.
- S&P 500 Index: The broader S&P 500 index declined 37.96 points to 5,205.81.
- Nasdaq Composite: The Nasdaq composite dropped 156.38 points to 16,240.45.
Currency and Commodities:
- Canadian Dollar: Traded at 73.68 cents US, compared to 73.67 cents US on Monday.
- Crude Oil: The May crude oil contract rose by US$1.44, reaching US$85.15 per barrel.
- Natural Gas: The May natural gas contract increased by three cents, reaching US$1.86 per mmBTU.
- Gold: The June gold contract surged by US$24.70, reaching US$2,281.80 per ounce.
- Copper: The May copper contract gained two cents, reaching US$4.07 per pound.
This report by The Canadian Press provides a snapshot of the market conditions on April 2, 2024. Investors should closely monitor developments as market dynamics continue to evolve.
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