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Current News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Department of Finance Canada News

Deputy Prime Minister co-chairs UN meeting on the international response to the COVID-19 pandemic

Tue, Sep 08, 2020

“Together with the Minister of Finance and the Public Service of Jamaica and the United Nations Deputy Secretary General, today I co-chaired a meeting of Finance Ministers from around the world to discuss proposals for the international community’s response to the COVID-19 pandemic. ...

Government Announces Extension of Rent Relief for Small Businesses

Tue, Sep 08, 2020

Today, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland and Minister of Small Business, Export Promotion and International Trade, Mary Ng, announced that Canada Emergency Commercial Rent Assistance (CECRA) for small businesses will be extended by one month to help eligible small businesses pay rent for September. All provinces and territories continue to parti...

Government announces greater flexibility and extension of Canada Emergency Business Account

Mon, Aug 31, 2020

The Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, is today announcing that the application deadline for the Canada Emergency Business Account (CEBA) is extended from August 31 to October 31, 2020....

Government extends Canada Emergency Wage Subsidy support for furloughed employees for four weeks

Fri, Aug 21, 2020

Government extends Canada Emergency Wage Subsidy support for furloughed employees for four weeks...

Statement following the joint call of Finance Ministers regarding the COVID-19 pandemic

Wed, Aug 05, 2020

“Today, I hosted a call with my counterparts from the “Five Eyes” nations – Australia, New Zealand, United Kingdom, and the United States – to discuss the economic impact of the COVID-19 pandemic, the significant policy response to the crisis, and the safe gradual restart of the global economy. This call was the third of a series of regular calls among Finance Ministers of the “Five Eyes” count...

Government Announces New Extension of Rent Relief for Small Businesses

Fri, Jul 31, 2020

Today, Finance Minister Bill Morneau announced that the Canada Emergency Commercial Rent Assistance (CECRA) will be extended by one month to help eligible small business pay rent for August. All provinces and territories continue to participate in this initiative, and collaborate with the federal government to provide rent supports to those small businesses most in need....

Government legislation to support Canadian workers, businesses, persons with disabilities, and legal rights receives Royal Assent

Mon, Jul 27, 2020

Bill C-20, An Act respecting further COVID-19 measures, today received Royal Assent, ensuring that the Canada Emergency Wage Subsidy (CEWS) will continue to protect jobs by helping businesses keep employees on the payroll and encouraging employers to re-hire workers previously laid off. The broader and better targeted CEWS will make sure that Canadian workers and businesses are in a better pos...

Minister of Finance Announces Appointment to Canada Pension Plan Investment Board

Tue, Jul 21, 2020

In keeping with this commitment, Finance Minister Bill Morneau today announced the appointment of Boon Sim as a Director to the Board of the Canada Pension Plan Investment Board (CPPIB) effective July 15, 2020. ...

Government introduces legislation to support Canadian workers, businesses and persons with disabilities

Mon, Jul 20, 2020

Today Finance Minister Bill Morneau introduced in Parliament Bill C-20, An Act respecting further COVID-19 measures. Upon receiving Royal Assent, this legislation would make the CEWS more targeted, expand eligibility, and help more workers get back to their jobs as the economy continues to reopen....

Supporting Canadian Workers and Businesses with a redesigned Canada Emergency Wage Subsidy

Fri, Jul 17, 2020

Today the Finance Minister, Bill Morneau, announced proposed changes to the CEWS that would broaden the reach of the program and provide better targeted support so that more workers can return to their jobs quickly as the economy restarts. This support would continue to protect jobs and help Canadian businesses that are the most impacted....

CRA Newsroom

The Canada Revenue Agency is resuming additional activities: know when we’re contacting you and how to avoid scams

Thu, Sep 17, 2020

The Canada Revenue Agency (CRA) is gradually resuming additional activities, and it may legitimately be us calling Canadians to discuss their tax and benefit situations. ...

Extension to the payment deadline for 2019 income tax returns

Mon, Sep 14, 2020

The Canada Revenue Agency (CRA) is closely monitoring the COVID-19 situation, and is committed to supporting Canadians throughout it. ...

Beware of schemes that promise large tax deductions or tax-free income

Thu, Sep 03, 2020

The Canada Revenue Agency (CRA) is advising Canadians to steer clear of tax schemes this tax season. ...

Warning to Ontarians: Don't be fooled by the senior homeowners' property tax grant

Tue, Sep 01, 2020

The Canada Revenue Agency (CRA) is warning Canadians about getting involved in schemes where promoters, usually tax representatives or tax preparers, are claiming they can get a tax refund for taxpayers relating to the Ontario senior homeowners' property tax grant (OSHPTG). ...

Watch out for offshore leveraged insured annuity schemes

Wed, Aug 26, 2020

The Canada Revenue Agency (CRA) is warning Canadians about getting involved in tax schemes involving leveraged insured annuity plans. ...

Watch out for offshore disability insurance plan schemes

Wed, Aug 26, 2020

The Canada Revenue Agency (CRA) is warning Canadians about getting involved in tax schemes including purported offshore disability insurance plans. ...

Last call! File your 2019 tax return to keep getting your benefit payments

Tue, Aug 25, 2020

Canadians who receive the Canada child benefit (CCB) and the Goods and services tax/Harmonized sales tax (GST/HST) credit need to complete their 2019 tax returns as soon as possible. ...

File your 2019 taxes before September to keep getting your benefit payments

Wed, Jul 29, 2020

Canadians who receive the Canada Child Benefit (CCB) and the Goods and Services Tax (GST/HST) credit need to complete their 2019 tax returns as soon as possible. ...

You can still file your 2019 income tax and benefit return

Thu, Jun 25, 2020

This year, the Canada Revenue Agency (CRA) extended the tax-filing deadline from April 30 to June 1, 2020, to help Canadians meet their tax-filing needs during the COVID-19 crisis. ...

Interest rates for the third calendar quarter

Mon, Jun 22, 2020

The Canada Revenue Agency (CRA) has announced the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. ...

Canada News Centre - Canada Revenue Agency

Cyber incidents

Wed, Sep 16, 2020

The protection of the personal information of Canadians is a priority for the Canada Revenue Agency (CRA)....

Canada Revenue Agency increases flat rate amount for meal claims, and reasonable amount for meal benefits and allowances

Thu, Sep 03, 2020

Today, the Honourable Marc Garneau, Minister of Transport, on behalf of the Honourable Diane Lebouthillier, Minister of National Revenue, announced that the Canada Revenue Agency (CRA) has increased the amount that employers can use to determine whether an overtime meal or allowance, or the meal portion of a travel allowance is taxable, from $17 to $23....

Canada Revenue Agency opens applications for enhanced Canada Emergency Wage Subsidy

Mon, Aug 17, 2020

The Canada Emergency Wage Subsidy (CEWS) was created to assist businesses affected by the COVID19 pandemic in keeping workers on their payroll or bringing back previously laid-off employees...

Government of Canada launches updated Canada Emergency Wage Subsidy Calculator to support employers

Tue, Aug 11, 2020

The Canada Emergency Wage Subsidy (CEWS) helps employers who have been impacted by the COVID-19 pandemic to keep workers on their payroll or bring back previously laid-off employees....

The Canada Revenue Agency announces an extension to the payment deadline and offers interest relief on outstanding tax debts during the COVID-19 pandemic

Mon, Jul 27, 2020

The Canada Revenue Agency (CRA) is closely monitoring the COVID-19 situation, and is committed to supporting Canadians throughout it. The CRA understands that individuals and businesses might be dealing with difficulties in meeting their financial obligations, including paying tax debts they may have incurred prior to the crisis. ...

Government of Canada to acquire interim replacement for the MV Madeleine ferry

Thu, Jul 02, 2020

Canadians in Eastern Quebec and Atlantic Canada, as well as tourists and businesses, rely on safe and efficient ferry services to support vibrant and sustainable communities and economies....

Revenu Québec News