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Auditor General Slams CRA Call Centres for Inaccurate Tax Guidance

  Auditor General of Canada Karen Hogan holds a press conference at the National Press Theatre in Ottawa on Tuesday, June 10, 2025. The Canada Revenue Agency’s (CRA) call centres are failing to provide Canadians with reliable tax information, according to a new report from Auditor General Karen Hogan. Between February and May 2025, Hogan’s office placed test calls to CRA contact centres and found that agents gave accurate and complete answers to individual tax questions only 17 per cent of the time . While responses to business tax or benefits inquiries were somewhat better, accuracy reached just 54 per cent , with completeness hovering around 30 per cent. The report also highlighted long wait times. Despite the CRA’s target of answering 65 per cent of calls within 15 minutes, only 18 per cent of calls met that standard. In June, fewer than five per cent were answered within the promised timeframe, with average waits stretching to more than half an hour  Hogan criticized t...
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TSX Futures Plunge Amid Global Market Sell-Off

 

Futures for Canada’s main stock index, the S&P/TSX, fell sharply on Friday as investors braced for crucial U.S. payrolls data amidst a global market downturn. The September futures on the S&P/TSX index were down 1.0% early in the morning.

The decline follows weaker-than-expected factory data from the U.S. on Thursday, which heightened fears of an economic slowdown and negatively impacted investor sentiment worldwide. Additionally, disappointing earnings reports from major tech companies like Intel and Amazon.com contributed to a sell-off in tech shares across markets.

Despite the overall downturn, an uptick in commodity prices helped limit the declines. Oil prices saw a slight increase, and gold was poised for its biggest weekly jump in four months.

Investors are keenly awaiting the U.S. non-farm payrolls data, expected to provide further insights into the state of the American economy. The Toronto Stock Exchange’s S&P/TSX composite index had ended 1.7% lower on Thursday, marking its biggest daily decline since February.

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