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Tax Deadline April 30: The Most Common CRA Mistakes Canadians Make — and How to Avoid Them

Missed deductions, wrong SINs, unreported side income — these are the errors that delay your refund, trigger CRA letters, and quietly cost Canadians millions every year. Here's your 2026 checklist With April 30 just days away, millions of Canadians are racing to pull together slips, receipts, and records before the Canada Revenue Agency's personal income tax deadline. But filing on time and filing  correctly  are two very different things. The CRA flags thousands of returns each year for errors that are entirely preventable — errors that delay refunds, generate costly reassessments, and sometimes result in penalties that linger for months. Whether you're a first-time filer, a seasoned DIY-er, or someone handing everything to an accountant, here are the 10 most common CRA mistakes Canadians make — and exactly how to avoid each one. 1. Misunderstanding the April 30 deadline The filing deadline for most Canadians is  April 30, 2026 . Miss it when you owe money, and you'll ...
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Bank of Canada Poised for Significant Rate Cut Amid Economic Slowdown

 

The Bank of Canada is widely expected to reduce its key policy rate by 50 basis points next week, marking its fourth consecutive rate cut and the first substantial reduction outside of the pandemic era in over 15 years. This anticipated move aims to stimulate economic growth as the country grapples with falling prices and sluggish consumer and business spending.

The central bank’s decision, set to be announced on October 23, will likely bring the benchmark rate down to 3.75% from the current 4.25%. This follows a series of rate cuts that began in June, prompted by consistent signs of cooling inflation and weakening economic growth.

Governor Tiff Macklem has indicated that the Bank of Canada is increasingly concerned about the risks of a faltering economy and declining inflation. Recent data has shown that Canada’s GDP growth has been minimal, with a mere 0.2% increase in July and a likely stall in August. Additionally, headline inflation for September was recorded at 1.6%, below the central bank’s target range.

Economists and financial markets are largely in agreement about the upcoming rate cut, with a Reuters poll showing that two-thirds of economists expect a 50 basis point reduction. This move is seen as necessary to support the economy, despite some concerns about potential inflationary pressures.

The Bank of Canada’s upcoming monetary policy report will provide further insights into its economic forecasts and the rationale behind its decision. As the central bank navigates these challenging economic conditions, its actions will be closely watched by markets and policymakers alike.


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