Looking for some extra cash this summer? You may need to look no further than the CRA\u0027s website. Jamie Golombek explains
On Monday, the government revealed it has approximately $1.4-billion worth of cheques that have gone uncashed over the years. As of May 2022, there were an estimated 8.9 million uncashed cheques with the CRA.Each year, the CRA issues millions of payments in the form of tax refunds and various government benefits. Most of these payments are issued via direct deposit, but some are still issued by cheque.
Beginning this month, the CRA will start notifying, via e-mail, some recipients of the Canada child benefit and its related provincial/territorial programs, GST/HST credit and Alberta Energy Tax Refund recipients of any uncashed cheques they may have.Article content The average amount per uncashed cheque is $158. Approximately 25,000 e-notifications will be issued in August and another 25,000 in November, followed by another 25,000 in May 2023.
Since the CRA first launched this initiative back in 2020, it said approximately two million uncashed cheques, valued at a total of $802 million, were cashed by Canadians between Feb. 10, 2020, and May 31, 2022.where you’ll be able to see if you have any uncashed cheques dating back as far as 1998.