Nearly 9 million Canadians have uncashed cheques from the CRA — worth $1.4B
Canada’s tax company says almost 9 million Canadians are owed some form of authorities money, and it’ll ship out reminders beginning this month to tens of hundreds of individuals to allow them to know.
The Canada Income Company stated Monday that it has roughly $1.4 billion price of uncashed cheques on its books, a few of which has been owed way back to 1998. As of Could, 8.9 million Canadians had some form of uncashed cheque hooked up to their identify. The typical quantity owed is $158, the tax company stated.
“We wish to be certain that this cash finally ends up the place it belongs. In taxpayers’ pockets!” the tax company stated.
The tax company stated it is going to quickly notify roughly 25,000 recipients of the Canada little one profit and associated provincial/territorial applications, GST/HST credit score and Alberta Vitality Tax Refund if they’re owed cash. One other group of 25,000 might be notified in November, and one other group in Could 2023.
Whereas the tax company handles billions of {dollars} in taxes and rebates ever 12 months, not all of it makes it into the fingers of Canadians who’re entitled to it, largely as a consequence of folks both dropping the cheques, or altering addresses, which means they by no means acquired it within the first place.
The CRA began engaged on its backlog of uncashed cheques in February 2020, and since then it stated it has returned $802 million to taxpayers who have been owed cash and did not understand it.
The CRA stated Canadians can test if they’ve uncashed funds by logging in to or signing up for an internet CRA account.
