The Canada Revenue Agency (CRA) has asked people to use their "common cents" and collect $1.4 billion in uncashed cheques, according to a Monday press release. .The CRA said there are 8.9 million uncashed cheques sitting in the government coffers, and it wants people to claim them. .Each year, the CRA gives out millions of payments in refunds and benefits. These payments can remain in the vault for reasons such as people misplacing cheques or address changes. .The CRA said money talks, so it will be contacting select recipients of the Canada child benefit and related provincial and territorial programs, GST/HST credits, and the Alberta Energy Tax Refunds to inform them of uncashed cheques. About 25,000 emails will be doled out in August, another 25,000 in November, and 25,000 in May. .The agency said this program is heading in the right direction, as two million uncashed cheques valued at $802 million have been redeemed since it launched in 2020. .The CRA launched this feature to encourage people to use their "centsibilities" and collect unclaimed credit and benefit payments belonging to them. This option enables people to see if they have uncashed cheques, with some of them going as far back as 1998. .Government cheques never expire, so the CRA cannot sell out and void them. The average amount per uncashed cheque is $158. .People can see if the CRA owes them money by going to My Account on the CRA’s website and search for uncashed cheques. Registering for direct deposit is the best option for Canadians to receive their CRA refrunds directly. .The Alberta government announced in 2020 people might be short changed because the Unclaimed Property Registry has been holding onto some money. .READ MORE: UCP wants owner of missing $900,000 to come forward – plus others missing cash.“More than 250,000 Albertans could find forgotten funds, which are currently resting in a pot worth about $103 million,” said the Alberta government. .“The total includes almost $900,000 in uncashed dividends belonging to an individual Albertan.”
The Canada Revenue Agency (CRA) has asked people to use their "common cents" and collect $1.4 billion in uncashed cheques, according to a Monday press release. .The CRA said there are 8.9 million uncashed cheques sitting in the government coffers, and it wants people to claim them. .Each year, the CRA gives out millions of payments in refunds and benefits. These payments can remain in the vault for reasons such as people misplacing cheques or address changes. .The CRA said money talks, so it will be contacting select recipients of the Canada child benefit and related provincial and territorial programs, GST/HST credits, and the Alberta Energy Tax Refunds to inform them of uncashed cheques. About 25,000 emails will be doled out in August, another 25,000 in November, and 25,000 in May. .The agency said this program is heading in the right direction, as two million uncashed cheques valued at $802 million have been redeemed since it launched in 2020. .The CRA launched this feature to encourage people to use their "centsibilities" and collect unclaimed credit and benefit payments belonging to them. This option enables people to see if they have uncashed cheques, with some of them going as far back as 1998. .Government cheques never expire, so the CRA cannot sell out and void them. The average amount per uncashed cheque is $158. .People can see if the CRA owes them money by going to My Account on the CRA’s website and search for uncashed cheques. Registering for direct deposit is the best option for Canadians to receive their CRA refrunds directly. .The Alberta government announced in 2020 people might be short changed because the Unclaimed Property Registry has been holding onto some money. .READ MORE: UCP wants owner of missing $900,000 to come forward – plus others missing cash.“More than 250,000 Albertans could find forgotten funds, which are currently resting in a pot worth about $103 million,” said the Alberta government. .“The total includes almost $900,000 in uncashed dividends belonging to an individual Albertan.”
