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The GST/HST Credit Has a New Name — And It's Paying 25% More

  Sunday, July 19, 2026 If you've relied on the quarterly GST/HST credit, that name is gone for good. Here's what replaced it, how much more it's worth, and whether you need to do anything to get it. For years, the GST/HST credit quietly landed in millions of Canadian bank accounts every three months — a modest, tax-free top-up meant to offset sales tax on everyday purchases. As of this month, that program no longer exists under its old name. It's now the Canada Groceries and Essentials Benefit (CGEB) , and the federal government has permanently increased the payment by 25%, locked in for five years. If you already qualified for the GST/HST credit, you don't need to apply for anything new. But you should know what changed, because the numbers — and the timeline — are more involved than a simple rename. What actually changed The CGEB was first announced by the federal government in January 2026 as part of a broader affordability push, and it became law with the passa...
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5 Things Every Canadian Should Know About Their Money Today

                                 


Thursday, May 7, 2026 · moneysavings.ca/canadian-money-brief

Good morning, Canada. Here are the five money stories shaping your financial decisions right now.

1. Ottawa Highlights Spring Economic Priorities

Finance Minister François‑Philippe Champagne continues a two‑day Toronto tour outlining the government’s push for a more resilient, independent Canadian economy, with discussions focused on financial crime, payment modernization, and geopolitical risks. 

2. Inflation Pressures Persist for Households

Recent economic commentary warns Canadians to expect higher grocery, fuel, and travel costs, adding an estimated $400–$600 to the annual food budget for a family of four. Rising shipping and transport costs remain key drivers. 

3. Housing Market Stagnates in Major Cities

Vancouver and Toronto continue to see flat or declining home prices due to high living costs, elevated inventory, and uncertainty around future rate cuts. Mortgage renewals remain painful, with many households facing $500–$800 higher monthly payments. 

4. Canada’s Trade Balance Swings Back Into Surplus

March data shows a C$1.78B trade surplus, reversing a previous deficit as exports climbed to C$72.77B while imports eased to C$70.99B. This marks a notable improvement in Canada’s external position. 

5. Business Activity Rebounds Sharply

The April Ivey PMI jumped to 57.7, signaling renewed economic expansion after months of contraction. Services and composite PMIs also improved, suggesting early signs of stabilization across sectors.

This article is for informational purposes only and does not constitute financial advice. Always consult a licensed financial advisor before making investment or mortgage decisions.

© 2026 MoneySavings.ca · Canadian Money Brief

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