Finance news

Ontarians eligible for the monthly Ontario Trillium Benefit (OTB) payment will receive their August instalment on Monday, August 10, 2026.July marked a new benefit year in Canada and benefit amounts were adjusted by 2% based on the Consumer Price Index.Each year, you must file your personal Income Tax and Benefit Return and fill out the ON-BEN Application form that’s included in the tax return package. Based on your return, the Canada Revenue Agency (CRA) determines whether you’re el

Canadians’ investment in cryptocurrency has more than doubled over the past few years, according to a survey released in July by the Ontario Securities Commission. One-quarter of respondents to the Crypto Assets Survey 2025, conducted last December and January, said they owned crypto assets or funds, up from just 10% in 2023.Awareness is growing, too. Six in 10 respondents (59%) correctly identified the definition of cryptocurrency, up from 54% in 2023 and 51% in 2022. More than one third

The Canada Revenue Agency (CRA) is becoming more proactive in its pursuit of tax-free savings account (TFSA) overcontributions. They had a project over the past couple of years where they sent out TFSA education letters. These letters warned people who may have overcontributed to their TFSAs about how TFSA contributions, withdrawals, and overcontribution penalties work. Now, their approach appears to have shifted from education toward enforcement. The CRA may send a proposed RC243 Tax-Free