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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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Ontario’s 2025 Budget: Navigating Tariffs, Housing, and Economic Uncertainty

The Ontario government has unveiled its 2025 budget, outlining a plan to tackle economic challenges, including the impact of U.S. tariffs and a growing deficit. Here are six key takeaways:

1. Tariff Relief Measures – With U.S. trade policies weighing on Ontario’s economy, the government has introduced a $5 billion Protecting Ontario Account to support businesses affected by tariffs. Additionally, tax deferrals and grants aim to provide relief to struggling industries.

2. Housing Initiatives – The budget reaffirms Ontario’s commitment to increasing housing supply, with investments in factory-built housing and infrastructure to accelerate construction. However, housing starts are projected to decline in 2025, raising concerns about affordability.

3. Infrastructure Spending – Ontario is investing heavily in transportation, with $30 billion allocated for highway expansion and rehabilitation, alongside $61 billion for public transit projects. These investments aim to improve mobility and support economic growth.

4. Healthcare and Education – The province is dedicating $56 billion to new hospitals and health infrastructure, along with $30 billion for schools and childcare spaces. Additionally, $280 million will fund private-sector health clinics to reduce wait times for diagnostic tests and surgeries.

5. Support for Northern and Indigenous Communities – The budget includes a $500 million Critical Minerals Processing Fund to boost mining and resource development in Northern Ontario. Indigenous communities will benefit from expanded financing programs and scholarships for careers in resource industries.

6. Deficit and Economic Outlook – Ontario’s deficit is projected to reach $14.6 billion in 2025-26, with economic growth slowing to 0.8%. The government remains optimistic about long-term recovery but faces criticism for prioritizing tax cuts and business incentives over direct relief for families.

As Ontario navigates economic uncertainty, the budget aims to balance investment with fiscal responsibility. However, opposition leaders argue that more direct support is needed to address affordability and public service challenges.

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