Did You Know?

At the beginning of every January, Canadian employers are required by the Canada Revenue Agency (CRA) to deduct a portion of your paycheck. These deductions, labeled as Income Tax, Employment Insurance (EI), and Canada Pension Plan (CPP) contributions, are based on an estimate of your annual income. The funds are sent to the CRA but legally remain in trust under your name until you file your tax return, usually between February and April.

Here’s the shocking truth: You don’t owe the Canada Revenue Agency a single dollar until well into the next year. Despite this, the CRA holds an estimated $33 billion of Canadians’ money at any given time, earning potential returns—interest-free for them.

Meanwhile, if you owe the CRA money, they charge daily compounding interest, often at high rates. This double standard is blatantly unfair.

Why This Petition Matters

We’re demanding fairness and justice for Canadians. If the Canada Revenue Agency charges us interest when we owe money, they should also pay us interest on the funds they hold in trust. This interest could help Canadians offset rising living costs or save for the future.

Our demand is simple:

1. The Canada Revenue Agency must pay interest on payroll deductions held in trust until taxes are actually due.
   
   
2. They should compensate Canadians retroactively for seven years-mirroring the timeframe they use to pursue taxpayers. 

It’s time to hold the Canada Revenue Agency accountable for benefiting from funds that legally belong to hard working Canadians.

What You Can Do

1. Sign this petition to demand change and fairness.
   
   
2. Share this with your friends, family, and colleagues to spread awareness.

Your money. Your interest. Let’s make this right for Canada!