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 The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) .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...
Stock Market Climbs to New Heights Ahead of Powell’s Testimony
The stock market witnessed modest gains today, with both the S&P 500 and Nasdaq Composite achieving new record highs. Investors are keenly anticipating Federal Reserve Chair Jerome Powell’s upcoming congressional testimony, which could provide crucial insights into the future of interest rates.
- Modest Gains: The S&P 500 rose by 0.1%, while the Nasdaq Composite saw a 0.3% increase, marking a continuation of their upward trajectory.
- Economic Indicators: Recent jobs reports suggest a cooling labor market, leading to increased speculation about a potential rate cut by the Federal Reserve in September.
- Corporate Updates: Notable movements in the corporate sector included Boeing’s guilty plea to a criminal conspiracy charge related to the 737 Max crashes, and Tesla’s shares turning positive, potentially extending its winning streak.
- Cryptocurrency Watch: Bitcoin hovered near the $56,000 mark, maintaining its position despite recent sell-offs and the ongoing repayment process by the defunct crypto exchange Mt. Gox.
As the market landscape evolves, all eyes remain on Powell’s testimony and the forthcoming Consumer Price Index data, which could further influence investor sentiment and market dynamics.\
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