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 […]

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 […]

Canadian Banks Still Have Over 254,000 Mortgages On Payment Deferral

Hundreds of thousands of Canadians are seeing their payment deferrals expire. Canadian Bankers Association (CBA) data shows over half of people on deferrals have resumed payments by September 30. While most have resumed, there’s still hundreds of thousands of mortgages that haven’t yet. Mortgage Payment Deferrals When the pandemic kicked off, Canada’s bank regulators allowed […]