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5 Things Every Canadian Should Know About Their Money Today

From a rate hold to a sovereign wealth fund — here's what's moving the needle on your finances right now. 01 — DEADLINE Today is the tax filing deadline — and your refund may be a lifeline April 30 is the last day most Canadians can file their 2025 income tax return without penalty. With the cost of living still squeezing household budgets, many Canadians are counting on their refund as a financial cushion. Filing late triggers a 5% penalty on any balance owing, plus 1% for each additional month. If you haven't filed yet, the CRA's NETFILE portal is still open — act before midnight. 02 — INTEREST RATES Bank of Canada holds steady at 2.25% — no relief yet for borrowers The Bank of Canada kept its policy rate at 2.25% yesterday — the third consecutive hold of 2026. Governor Tiff Macklem cited rising inflation driven by higher global energy prices tied to the Middle East conflict, while U.S. tariffs continue to weigh on exports. CPI inflation climbed to 2.4% in Ma...
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New U.S. Immigration Program Offers Path to Residency for Spouses of American Citizens

 

President Biden recently announced a significant immigration program that aims to provide legal status and a streamlined path to U.S. residency and citizenship for approximately half a million unauthorized immigrants who are married to American citizens. Here are the key details:

  1. Eligibility Criteria:

    • Immigrants must have lived in the U.S. for at least 10 years.
    • They should be married to U.S. citizens.
    • Other requirements apply, but this program offers an opportunity for spouses to apply for work permits and deportation protections.

  2. Path to Permanent Residency:

    • The program unlocks a path to permanent residency (commonly known as a green card) for many beneficiaries.
    • After 5 years as a green card holder, immigrants can apply for U.S. citizenship.

  3. Comparison to DACA:

    • This program would be the largest government initiative for undocumented immigrants since the Obama-era Deferred Action for Childhood Arrivals (DACA).
    • DACA currently shields around 528,000 Dreamers (those brought to the U.S. as children) from deportation.

  4. Executive Action:

    • President Biden’s move is the second significant executive action on immigration in recent months.
    • Earlier in June, he invoked a presidential power to disqualify most migrants at the U.S.-Mexico border from asylum.

In summary, this program aims to protect spouses of U.S. citizens, allowing them to work legally and pursue permanent residency. It’s a significant step toward immigration reform. 

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