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5 Things to Know About Your Money Today — May 22, 2026

F riday, May 22, 2026    |  By MoneySavings.ca A lot is moving in the Canadian money world right now — from grocery settlements landing in bank accounts to energy prices pushing inflation higher. Here are the five things every Canadian should know about their finances today. 1. Bread Settlement Cheques Are Arriving — Check Your Inbox If you filed a claim in the $500-million Canadian Packaged Bread Class Actions Settlement , your money could be on its way right now. Payouts started rolling out the week of May 11, 2026, and are being sent either by Interac e-Transfer or cheque depending on how you registered. The amounts are modest but real: $49.11 for most claimants, or $24.11 if you previously received a Loblaw gift card through the 2017–2019 program. The settlement covers anyone who bought packaged bread for personal use between 2001 and 2021. Watch for scams. Legitimate e-Transfer payments arrive only from notify@payments.interac.ca . No texts, no calls — if someone...
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Temporary GST Breaks: What's Covered and What's Not


Starting December 14, 2024, and lasting until February 15, 2025, the Canadian government has introduced temporary GST/HST breaks on a variety of essential items. This tax relief aims to provide financial relief to Canadians during the holiday season.


What's Included:

  •  Food and Beverages: All groceries, restaurant meals, and drinks will be exempt from GST/HST.
  • Children's Items: Clothing, footwear, diapers, car seats, toys, and jigsaw puzzles for all ages will also benefit from the tax break.
  • Books and Newspapers:  Printed books and newspapers are included in the relief.
  • Holiday Decorations: Christmas trees and similar decorative items are also covered.
  • Video Game Consoles and Games: Physical video game consoles, controllers, and games qualify for the tax break.


What's Not Included:

  • Luxury Items: High-end electronics, jewelry, and luxury clothing are not covered by the GST/HST break.
  • Alcoholic Beverages: While regular beverages are included, alcoholic drinks are excluded from the tax relief.
  • Non-Essential Toys and Games: Items not specifically listed under children's toys or educational games do not qualify.
  • Sports Equipment: Items used exclusively for sports or recreational activities are not included.


This temporary tax break is designed to make essential goods more affordable and provide some financial relief during the holiday season. Make sure to take advantage of these savings while they last!





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