Opportunity: Canadian Dollar Stabilizes, Somewhat

Things have started to turn around for the Canadian dollar in the second quarter of 2025. It hit a 22 year low in January of 2025. Investors and property owners, who have been swooning at the high burn rate in their travel plans and property maintenance abroad, may wish to consider recent more positive trends and consider some risk mitigation opportunities now that the dollar is stabilizing somewhat.  

In the fray of the pandemic, tax filing deadlines have come and gone, with the most recent being the June 1 personal tax filing deadline.  Governments have been committed to keeping tax benefits flowing based on the 2018 return and will even waive late filing penalties and interest for failure to file.  But a big reckoning is coming at midnight on September 1.

The CERB auditing has begun. Unfortunately, with a bit of “gotcha” scenario. The CRA is starting to crack down on those who are “misusing” the federal Canadian Emergency Response Benefits by introducing a tip line to report fraudsters.  It’s too bad that the CRA has not given the repayment option portals the same fanfare. Tax and financial advisors can help, though.

The official extended June 1 tax filing deadline has past, but of course there is an unofficial deadline of September 1 still ahead. No late filing penalties or interest will be charged for those who file by then, so it’s not surprising that T1 tax filing season isn’t truly over yet.  In fact, 30% of all T1 returns filed last year are still missing in action.

As part of the emergency pandemic assistance programs, a new benefit was introduced for seniors – for some, but not all. Those receiving OAS will receive a $300 one-time payment, and those receiving GIS will receive an additional $200. But do those who chose to postpone their benefits qualify too?

I had the opportunity to coach one of our Knowledge Bureau instructors this past weekend as she prepared to provide a basic tax and financial literacy lesson to a group of young people. The issue we spent the most time discussing: how to convey and discuss the importance of financial wellness and why that matters especially in these times? The answer required only one word.

Have governments effectively interpreted the financial effect of the pandemic on small businesses across Canada?  It’s a question we asked you last month and we got well over 1000 responses. The answer was a resounding no from 96% of you.  Here is what you told us...