Nearly 9 Million Canadians Have Not Cashed CRA Checks Totalling $1.4 Billion

The Canadian Tax agency estimates that around 9 million Canadians are due some form of government money.

The average amount owing, according to the tax authority, is $158. The Canada Revenue Agency (CRA) reported having uncashed checks totalling around $1.4 billion, some of which date as far back as 1998.

The CRA is to begin informing about 25,000 Canadians if they are owed funds in November and May 2023. The tax office processes billions of dollars worth of taxes and refunds annually. Not all of it reaches the hands of eligible Canadians, primarily because recipients lose their rebate checks or move.

The CRA has restored $802 million to taxpayers who were due money but weren't aware of it. The agency is tackling its backlog of uncashed checks and by logging into or creating an online CRA account, Canadians can see if they have any uncashed payments.

For more information, contact us today!