CRA SAYS IT HAS $1.4 BILLION IN UNCASHED CHEQUES SITTING IN ITS COFFERS
VARIOUS REASONS, INCLUDING MISPLACING A CHEQUE OR CHANGING ADDRESSES
Courtesy of Canadian Press: Published: Aug 9th, 2022
The Canada Revenue Agency says it will be sending e−notifications about uncashed cheques to 25,000 Canadians this month.
The federal agency says it has approximately $1.4 billion worth of uncashed cheques in its coffers that have accumulated over the years, with some dating back to 1998.
Each year, the CRA issues millions of payments in the form of benefits and refunds, but some cheques remain uncashed for various reasons, including misplacing a cheque or changing addresses.
Another 25,000 Canadians will receive e−notifications in November, followed by 25,000 more in May 2023.
The CRA launched a campaign in February 2020 to get Canadians to cash their cheques and says it has so far returned more than $800 million back to taxpayers.
The CRA says Canadians can check if they have uncashed payments by logging in to or signing up for an online CRA account.
Patricia is the Business Mentor and owner of Grow Vantage and a Past President of the Barrie Chamber of Commerce. She applies over 30 years of business experience (from start-up to corporate) to mentor entrepreneurs. Since 2011, she has held over 6,500 coaching and training sessions in-person and online. Through Ask For Directions Training, her entrepreneurial training program (and parent company Grow Vantage), and as a business coach, she works with start-ups who are new (or who have lost traction) to design, launch and grow their businesses. Along with 20 other expert instructors she teaches strategies in marketing, sales, communications, and finance, as well as practical techniques to increase productivity, and manage their businesses. In other words, everything entrepreneurs need to learn to grow and run their businesses successfully, and avoid the costly mistakes they can't even see coming - that lead to delays in growth and getting stuck.
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