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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

Canada Emergency Business Account now open to businesses using personal banking accounts

Mon, Oct 26, 2020

Today, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland announced that as early as October 26, 2020, the Canada Emergency Business Account (CEBA) will be available to businesses that have been operating out of a non-business banking account. ...

Canada concludes productive G7, G20, IMF, and World Bank meetings

Fri, Oct 16, 2020

G7 Finance Ministers and Central Bank Governors discussed domestic and international economic responses to COVID-19 and reiterated the importance of continued financial support to economies and that support should not be withdrawn too quickly. They also noted the need to collaborate on approaches to digital payments and their shared resolve to combat the rising threat of ransomware attacks. ...

Minister Fortier discusses government supports with Newmarket entrepreneurs in virtual town hall 

Fri, Oct 16, 2020

Today, the honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, took part in a virtual town hall with the Newmarket Chamber of Commerce. The Minister was joined at the town hall by Tony Van Bynen, Member of Parliament for Newmarket—Aurora....

Canada to discuss coordinated global response to COVID-19 at G7, G20, and annual meetings of the IMF and the World Bank

Sat, Oct 10, 2020

The Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, will attend several multilateral virtual meetings over the next week, beginning with Monday’s Coalition of Finance Ministers for Climate Action. The Deputy Prime Minister will also attend virtual meetings of the G7 and G20 Finance Ministers and Central Bank Governors on October 13 and October 14....

Government announces new, targeted support to help businesses through pandemic

Fri, Oct 09, 2020

That is why today the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, announced the government’s intention to introduce new, targeted supports to help hard-hit businesses and other organizations experiencing a drop in revenue. The government plans to introduce legislation to provide support that would help these businesses safely get through the second wave of the ...

Minister Fortier discusses government supports with Sault Ste. Marie entrepreneurs in virtual town hall 

Tue, Oct 06, 2020

Today, the honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, took part in a virtual town hall with Sault Ste. Marie Chamber of Commerce. The Minister was joined at the town hall by Terry Sheehan, Member of Parliament for Sault Ste. Marie, and Parliamentary Secretary to the Minister of Economic Development and Official Languages (FedNor)....

Minister Fortier discusses government supports with Laval entrepreneurs in virtual town hall 

Wed, Sep 30, 2020

Today, the honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, took part in a virtual town hall with la Chambre de commerce et d’industrie de Laval. The Minister was joined at the town hall by Members of Parliament Angelo Iacono (Alfred-Pellan), Annie Koutrakis (Vimy), Fayçal El-Khoury (Laval—Les Îles), and Yves Robillard (Marc-Aurèle-Fortin). ...

Government provides update on support for furloughed employees under the Canada Emergency Wage Subsidy

Fri, Sep 25, 2020

Today, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, is proposing to extend the current treatment of furloughed employees under the wage subsidy program for the upcoming four-week period, from September 27 to October 24, 2020....

Government of Canada supports Newfoundland and Labrador’s Offshore Energy Sector Workers

Fri, Sep 25, 2020

In response to the significant economic and financial distress facing the province’s energy sector, the Honourable Seamus O’Regan, Canada’s Minister of Natural Resources, on behalf of the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, today announced $320 million in funding, towards an agreement with the provincial government, to support Canadians with offshore...

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. ...

CRA Newsroom

Own a small business? During Small Business Week and throughout the year, the CRA is here to help!

Tue, Oct 20, 2020

Across Canada, employers are working hard to navigate through these uncertain times. ...

Warning: Watch out for bad-debt tax schemes!

Tue, Sep 29, 2020

The Canada Revenue Agency (CRA) is warning Canadians about getting involved in tax schemes where promoters, including some tax representatives and tax preparers, are claiming that individuals can get a tax write-off by claiming a bad-debt deduction. ...

Interest rates for the fourth calendar quarter

Fri, Sep 25, 2020

The Canada Revenue Agency (CRA) announced today 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. ...

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. ...

Canada News Centre - Canada Revenue Agency

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