5 Things to Know Today Your morning briefing on what's moving Canadian wallets and markets — Thursday, June 5, 2026. 1 / Benefits Your Grocery Benefit Cheque Lands Today Today is the day millions of Canadians have been watching their bank accounts for. The federal government is issuing a one-time Canada Groceries and Essentials Benefit (CGEB) top-up to more than 12 million eligible Canadians starting June 5, 2026. The payment equals roughly 50% of your annual GST/HST credit entitlement — so if you normally receive that credit, expect to see a notably larger-than-usual deposit. The numbers: a family of four could receive up to $1,890 in 2026 (including the top-up), while a single person could receive up to $950 . Your bank statement may still label the deposit as "GST/HST Credit" or "GST/HST RC150" — that's normal. The full rebrand to CGEB takes effect July 3, 2026, when the regular quarterly payments resume at a permanent 25% increase for the next five...
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Tax season is upon us, and staying informed can make the process smoother and less stressful. Here are some essential updates and tips for the 2025 tax-filing season:
- Important Deadlines:
- The deadline for most individuals to file and pay taxes is April 30, 2025.
- Self-employed individuals have until June 16, 2025, to file, but any taxes owed must still be paid by April 30 to avoid interest.
- New Changes:
- Federal income tax brackets have been adjusted to account for inflation, with rates ranging from 15% for earnings up to $57,375 to 33% for earnings above $253,414. The contribution limit for Registered Retirement Savings Plans (RRSPs) has increased to $32,490.
- The Tax-Free Savings Account (TFSA) contribution room remains at $7,000 for 2025.
- Digital Services Enhancements:
- The Canada Revenue Agency (CRA) now offers a document verification service for quicker access to online accounts.
- A live chat feature is available in the CRA's "My Account" portal for personalized assistance.
- Filing Tips:
- File early to avoid last-minute stress and ensure quicker refunds.
- Double-check all tax slips and receipts to claim every eligible credit and deduction.
- Consider seeking help from free tax clinics if you have a modest income and a simple tax situation.
By staying organized and informed, you can make the most of this tax season and potentially maximize your refund.
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