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FIFA World Cup 2026 & Your Wallet: How to Cash In Right Now

  The biggest sporting event in history is happening right now in Canada. Here's what it means for your money — whether you own property, rent, or just want to watch. The 2026 FIFA World Cup kicked off on Canadian soil on June 12 — and whether you've been following the matches or not, this tournament is already leaving a mark on Canadian wallets. Toronto and Vancouver are hosting games through July 19, and the economic ripple effects are very real: in hotels, short-term rentals, restaurants, and yes, your tax return. If you're a homeowner — especially in Toronto or the GTA — there's still time to benefit. And if you're simply a Canadian taxpayer, it's worth knowing exactly what this tournament is costing us, and what we're getting back. Here's everything you need to know about the FIFA World Cup and your money. The Big Picture: What This Tournament Is Worth to Canada FIFA projects that hosting the World Cup will contribute up to CAD $3.8 billion in eco...
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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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