Stock news for investors: Air Canada profit drops more than 50% in Q2 amid “challenging environment” + MORE Aug 6th

What is the GST/HST tax credit?

The GST/HST credit is a tax-free payment issued by the Canada Revenue Agency (CRA) to help reduce the financial burden of GST and HST on qualifying Canadians. Payments are made four times a year and are based on your family’s net income from the previous tax year. 

You don’t have to apply for the GST/HST credit each year. When you file your income tax return, the CRA automatically reviews your information to determine whether you’re eligible. If you qualify, the payments are deposited quarterly.

Remember: You don’t need to include these payments on your tax return—they’re not considered taxable income and won’t affect any other benefits you receive…

Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.

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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings of major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

Best high-interest savings account rates in Canada

Generally, savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest rate is a no-brainer…

Here’s a round-up of news for Canadian investors this week.

Air Canada

George Weston

Lightspeed

Bombardier

Gildan Activewear

TFI

Algoma Steel

Featured RRSP Accounts

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EQ Bank

Build your retirement savings with 2.00% interest, tax-deferred contributions and zero fees.

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Registered GIC rate

Earn a guaranteed 3.4% in your RRSP when you lock in for 1 year.

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Best RRSP rates

See our ranking of the best RRSP accounts and rates available in Canada.

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Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999…