HomeOur TeamContact

CRA knew clawbacks would cause low-income taxpayers hardship, memo shows

By Grace Chen
Published in Personal Finance
June 21, 2023
1 min read
CRA knew clawbacks would cause low-income taxpayers hardship, memo shows

Hey, I read this really interesting article about how the CRA (Canada Revenue Agency) knew that clawbacks - the process of taking back money already given out to low-income taxpayers - would cause financial hardship, but they did it anyways. Crazy, right?

Basically, the article talks about how the CRA released a memorandum back in 2018 that warned the government that clawbacks could be detrimental to those who were already struggling. But despite this information, the government still went ahead with clawbacks and people are now suffering because of it.

I personally know how tough it can be to make ends meet when you’re on a low income. It feels like you’re constantly choosing between paying for necessities like food and shelter, or paying off debt. To add insult to injury, having money taken away from you that you already received is a major blow.

This article highlights the importance of not ignoring warnings and information from those who are more knowledgeable or experienced. Policies that seem like a good idea on paper can have devastating consequences in reality. It’s necessary to consider the impact of decisions like this on the most vulnerable members of society.

Overall, this is an important issue that affects a lot of people, and we need to pay attention to how our government treats those who need the most support.


Previous Article
Pick the Best Credit Card: Rewards, Fees and Benefits
Grace Chen

Grace Chen

Freelance Writer

KSAT Money Q&A: Personal finance creator shares tips for those struggling with debt
June 29, 2023
1 min

Quick Links

Advertise with usAbout UsContact Us

Social Media