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5 Things to Know Today: Gas Tax Holiday Extended to 2027, BoC Holds, TSX Rebounds

  September 3, 2026 A big one for your wallet just landed: Ottawa is keeping the gas tax break alive well past Labour Day. Here's what else moved markets and money in Canada today. 1. Gas tax holiday extended to January 31, 2027 The federal fuel excise tax break that was set to expire on Labour Day (Sept. 7) isn't going anywhere. Finance Minister François-Philippe Champagne confirmed the suspension of the 10-cent-per-litre gasoline excise tax and 4-cent-per-litre diesel tax will now run until January 31, 2027, before being phased back in at half-rate from Feb. 1 to March 31 and fully restored April 1. Ottawa first introduced the break in April to offset oil-price shocks tied to the Iran war. What it means for you: The scheduled Sept. 8 jump of 10–11 cents a litre is off the table for now. CAA pegged the national average at 172.9 cents/litre this week — budget around that level rather than the higher price many drivers had braced for. 2. Bank of Canada holds rate at 2.25% for a...
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Enhanced Tracking of Foreign Students Urged by Canadian Criminologist

In a recent statement, Kelly Sundberg, a criminologist and professor at Mount Royal University, emphasized the need for Canada to improve its tracking of foreign students. Sundberg, who has experience in inland immigration enforcement for the Canada Border Services Agency, highlighted the vulnerabilities in the current system that allow for potential exploitation by transnational criminals.

The call for better tracking comes in the wake of an investigation by Indian law enforcement agencies into a scheme involving Canadian colleges and the illegal transportation of international students across the Canada-U.S. border. The investigation revealed evidence of human trafficking linked to the tragic deaths of an Indian family near the Manitoba-Minnesota border in January 2022.

Sundberg suggested that collecting biometric data, such as fingerprints and photos, from non-citizens entering Canada and tying this information to their immigration documents could help address these issues. He also stressed the importance of having a system in place to confirm the departure of temporary residents, including international students.

The federal government and the Royal Canadian Mounted Police (RCMP) have yet to comment on the allegations, which have not been proven in court. However, Sundberg's recommendations have sparked a broader discussion on the need for reforms in Canada's immigration system, especially as the country faces increasing scrutiny over illegal border crossings and asylum claims.

As Canada continues to make significant changes to its immigration policies, including cutbacks on the number of student visas issued, the focus on enhancing tracking mechanisms for foreign students remains a critical priority.




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