Finance news

Prime Minister Mark Carney killed the consumer carbon levy as one of his first acts upon taking office earlier this month. As of April 1, the price everyday Canadians pay for emissions is to be set at $0. Here is what consumers can expect: What will Canadians save on fuel?
Patrick De Haan, head of petroleum analysis at GasBuddy.com, said Canadians should see a “pretty sizable rollback” in fuel prices within 24 hours of the retail carbon charge being removed. As for whe

Is that the CRA calling you—or is it a scammer? The Canada Revenue Agency (CRA) is warning taxpayers to watch out for scammers who impersonate its agents, demanding immediate payment for taxes owed and issuing threats of fines, criminal charges, jail time and even deportation if you fail to pay.Scammers demand payment via e-Transfer or with unusual methods such as prepaid credit cards, gift cards or crypto. They also pressure the target to act immediately or within a couple of hours. Scamm

Ask MoneySense
We have been defrauded of over $20,000 by someone who was able to make unauthorized e-transfers from our bank accounts. The bank has recovered a small portion of them, and it has refused responsibility for any more. I am at level three of the complaint process, and I am wondering how to proceed?Do I need a lawyer now, before filing the new complaint?My home insurance doesn’t cover anything. I have contacted the credit bureaus and I’m making a police report.—Willi

In 2024, Canadians lost a jaw-dropping $638 million to fraud, according to the Canadian Anti-Fraud Centre (CAFC). That’s already a hefty $60 million more than losses reported the previous year, but the true total is likely much, much higher—experts at the CAFC say that less than 5% of scams are ever reported.What we do know, however, is the type of fraud reported most often in Canada in 2024: identity fraud. To pull this off, criminals use phishing scams and other ruses to trick Cana

Many Canadians have learned common telltale signs of phishing emails and fraudulent websites, such as poor spelling, fuzzy logos and sketchy-looking URLs. That knowledge is key, but it’s no longer enough to avoid becoming a victim. Scams are always evolving, becoming more sophisticated and more convincing. And, with new technology tools like artificial intelligence (AI) at their fingertips, fraudsters are refining their tactics to better trick people, as well as casting a wider net to lure

Economic uncertainty stirred up by whipsawing U.S. tariff threats prompted BRP Inc. to push back its financial forecast for the coming year, with the trade limbo exacerbating weak consumer demand that drove the Ski-Doo maker to an earnings loss last quarter.“There’s still the uncertainty around what’s going to happen on April 2, and I think that is influencing consumer behaviour,” said chief financial officer Sébastien Martel, referring to U.S. President

Dilys D’Cruz didn’t grow up around open discussions about money. But now, she found a career in finance as the senior vice president of retail and wealth at Meridian Credit Union. She found that understanding and talking about money enables her to do what she loves, like travelling the world. With over 13 years of experience in the financial industry, D’Cruz now works with her own financial advisor to guide her with her budgeting, planning and financial goals. Here she shares h

Joe Dominguez and Vicki Robin first kindled the FIRE movement (Financial Independence, Retire Early) in their 1992 book Your Money or Your Life (Penguin Books), encouraging people to save aggressively, live frugally and challenge the bounds of a 9-to-5 work week. The idea flared up again around 2017, making personal finance headlines and going viral on social media. Minimalism gained traction, and young Canadians sought out work-life balance and financial freedom. Beyond its true adherents,