FP Canada released the results of a research project called the Financial Stress Survey. Half of those surveyed (49%) reported they were losing sleep over their finances. This was relatively unchanged from the results of previous surveys prior to the pandemic. When respondents were asked, “What causes you the most stress?”, 38% said money ahead of personal health at 25%. The findings suggest that money worries continue to be the leading source of stress.
CRA publishes prescribed interest rates each quarter. If you are in arrears to the government, for example, late in paying your income tax instalment, you will be charged interest.