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June Jobs Report: What It Means for the Bank of Canada's July 15 Decision

  Friday, July 10, 2026 Statistics Canada releases its June Labour Force Survey today, and the timing couldn't matter more. This is the last major economic data point before the Bank of Canada's next interest rate decision on July 15, 2026 — and whichever way the jobs numbers break, they'll shape what happens to borrowing costs for the rest of the summer. What Economists Are Expecting Consensus forecasts point to a modest but positive jobs report. Economists expect Canada added around 10,000 jobs in June, with the unemployment rate holding steady at 6.6%. That would follow a much stronger May, when the economy added 88,000 jobs and the unemployment rate actually fell by 0.3 percentage points. In other words, June's report is expected to show a cooling-off after May's surprise strength — not a reversal, but a return to a more modest pace of hiring. Indicator May 2026 June 2026 (Forecast) Net Employment Change +88,000 jobs +10,000 jobs (expected) Unemployment Rate 6....
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Taxes 2024: Seven Best Tips for Last-Minute Filers as the Tax Deadline Approaches

 


With the April 30 deadline swiftly approaching, time is running out for most Canadians to file their 2023 income tax returns. But fear not, procrastinators! It’s not too late to get started. I’ve gathered some essential tips to help you navigate this last-minute scramble:

  1. Understand the Consequences of Filing Late:

    • For employees, the deadline is April 30, while self-employed individuals have until June 17 (since June 15 falls on a Saturday).
    • Regardless of your employment status, ensure that any outstanding balance is paid by April 30. Failure to do so results in daily compounded interest at an annualized rate of 10%.
    • Late-filing penalties are even steeper for repeat offenders. If you owe money to the government, it’s crucial to act promptly.

  2. Claim All Deductions:

    • Common mistakes arise from “mistakes of omission.” People often forget to claim eligible deductions.
    • Use your previous year’s tax return as a reference to ensure you haven’t missed any potential deductions.
    • If you’re unsure about a specific line number, visit the CRA website for explanations.

  3. Use a Checklist:

    • Anxiety about being late can be overwhelming. Ease your mind by using a checklist.
    • TurboTax Canada provides a 2023 tax checklist to ensure you have all necessary documents.
    • Remember, late returns may delay payments for credits and benefits like the GST/HST credit and the Canada Child Benefit.

  4. Pay Attention to Deadlines:

    • April 30, 2024: The deadline for most Canadians to file their tax return. Pay any outstanding balance by this date to avoid penalties and interest.
    • June 15, 2024: Self-employed individuals have until this date to file. Don’t procrastinate!

Remember, if you’re due for a refund, there’s no penalty for filing late. However, the longer you wait, the longer your refund remains in the government’s hands. So, take that money and put it to good use! 

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