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5 Things Every Canadian Should Know About Their Money Today

Published: April 26, 2026 · moneysavings.ca/canadian-money-brief The week is shaping up to be a busy one for Canadian wallets. From a federal budget update to record household debt, here are the five things you need to know today. 1. The Spring Economic Update Lands Monday Finance Minister François-Philippe Champagne is set to table the Spring Economic Update 2026 on April 28 — just two days away. The government has promised to outline its plan to build "the strongest economy in the G7," with further actions to drive prosperity and support Canadians. Whether that means tax relief, new spending, or trade-war cushions, Canadians should pay close attention: what gets announced Monday could directly affect your tax bill, your mortgage rate outlook, and government benefit amounts. What to watch for: any changes to the GST/HST credit, housing incentives, or tariff-offset support for workers. 2. Your Household Debt Is Still Climbing Statistics Canada's latest data pa...
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Canada Implements Digital Services Tax Amidst Controversy

Canada has officially enacted a digital services tax (DST), which imposes a three percent levy on revenue from Canadian users by foreign tech giants, retroactive to 2022. This move has sparked significant debate and concern among businesses and the United States government, with fears of potential trade repercussions.

Deputy Prime Minister and Finance Minister Chrystia Freeland defended the decision, stating that it was unfair for Canada to indefinitely delay its own measures while waiting for a multilateral agreement on digital service taxes. She emphasized the need for tech companies to pay their fair share of taxes on revenue earned without a physical presence in Canada.

The DST is expected to affect companies with global annual income of at least $1.1 billion and Canadian revenues greater than $20 million a year. While the tax aims to level the playing field and support essential investments within the country, it has raised concerns about adding irritants to the trade relationship with the United States, especially during a sensitive time with upcoming presidential and congressional elections.

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