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5 Things to Know Today: Key Money Headlines for Canadians

1. Spring Economic Update Lands Today Finance Minister François‑Philippe Champagne tables the 2026 Spring Economic Update this afternoon, outlining Ottawa’s latest fiscal outlook and new measures aimed at supporting Canadians amid global instability. 2. Fuel Excise Tax Temporarily Suspended Prime Minister Mark Carney has paused the federal excise tax on gas, diesel, and aviation fuel , offering short‑term relief as energy prices remain elevated due to geopolitical tensions.  3. Canada’s First Sovereign Wealth Fund Announced Carney has unveiled the Canada Strong Fund , the country’s first sovereign wealth fund, designed to finance major national infrastructure and economic‑building projects in partnership with the private sector.  4. CPP & OAS Payments Arrive Today New CPP and OAS payments are being issued today, including adjustments for seniors affected by recovery tax calculations, which are spread across monthly OAS payments.  5. Global Instability Conti...
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Canada Ends Work Permit Applications for Visitors

 

Effective August 28, 2024, visitors to Canada can no longer apply for work permits from within the country. This abrupt policy change by Immigration, Refugees and Citizenship Canada (IRCC) aims to manage the number of temporary residents and maintain the integrity of the immigration system.

The policy, initially set to expire on February 28, 2025, was terminated ahead of schedule due to concerns about abuse and the need to streamline the immigration process. Visitors who had previously been able to apply for work permits without leaving Canada must now explore alternative routes to work legally in the country.

This change underscores the government’s commitment to tightening immigration rules and addressing issues related to temporary foreign workers.


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