Canada

CRA: 800,000 Ineligible People Did Not Get CERB, But They’re Checking Applications

Canada’s national tax agency clarified a major news organization’s allegations of CERB “ineligibility” is, well… not entirely accurate. The Canada Revenue Agency (CRA)  responded to our request for clarification on tax-filer application data yesterday. CRA spokesperson Pamela Tourigny didn’t just clarify the data, but also generously provided their take on CERB fraud, and how they […]

Canada

Canada Saw Tens of Thousands of Six-Figure Earners Apply For Emergency Income

Canada’s emergency benefit applications are giving a little more insight into income disruption. Canada Revenue Agency data presented to the House of Commons shows a breakdown of CERB applicant income from last year. The data, first reported by Blacklock’s Reporter, shows hundreds of thousands of applicants didn’t file taxes at the time of application. More […]

Canada

Canadian Real Estate Sales Slow For The First Time Since The Beginning of Pandemic

Canadian real estate is still booming, but slowing faster than seasonally expected. Canadian Real Estate Association (CREA) data shows sales made a small decline in October. The decline only shows in the board’s seasonally adjusted numbers. Unadjusted sales still show large growth, but the rate decelerated for the first time since the pandemic. Canadian Real […]

Canada

This Week’s Top Stories: Canadian Household Debt Passes GDP By A Lot, and Over 254,000 Mortgages Still On Deferral

Time for your cheat sheet on this week’s most important stories.  Canadian Real Estate Canadian Household Debt Reaches 115% Of GDP, Here’s Why That’s Bad Canadian household debt is swelling, while gross domestic product (GDP) has been falling. The ratio reached 115% in Q2 2020, up from 101% the previous quarter. Even pre-pandemic this number […]