Amazon Canada Prime Big Deal Days Sale: The Best Discounts On Household Essentials - CTV News

Canada’s high household debt warrants concern, but the aggregate data do not point to a systemic debt crisis. The debt-service ratio (DSR), a more timely measure of financial strain than the debt-to-income ratio, has eased from its 2023 peak and sits slightly below its pre-pandemic level. Canada’s DSR is also not an international outlier, and the financial system has absorbed the recent rate cycle without widespread distress. National averages, however, conceal acute financial strain among particular groups. Lower-income households are increasingly spending more than their disposable income, while younger Canadians report greater difficulty meeting debt obligations. Pressure is also concentrated among highly leveraged homeowners in Toronto and Vancouver renewing mortgages at higher rates. Rising insolvencies are another warning sign, but existing data cannot distinguish cash-flow problems from cases in which debts exceed assets.

The second Canada Groceries and Essentials Benefit (CGEB) payment for the fiscal year, and the last of 2026, will arrive in bank accounts and mailboxes of qualifying Canadians as of Monday. The benefit replaced the former GST credit in July of this year, and featured a bigger payment from the federal government designed to help millions of low and modest-income households keep up with the heightened cost of living, including to buy food and other essentials. Payments are issued by the Canada Revenue Agency (CRA) every quarter, or every three months in a year, and are tax-free. The final payment for this year is scheduled for Oct. 5. Here’s how to know if you qualify and how much you could receive.