Economists estimates it will be around 13 per cent in the fourth quarter as the pandemic continued into 2021. Finance journalist Rubina Ahmed-Haq says Canadians should use some of their extra savings to start an emergency fund. She recommends Canadians invest in companies that have a good history of growth but still have lots of potential and pay a dividend. It's been a weird year with the pandemic, how can Canadians prepare for tax season? She recommends using a "simple income tax calculator" to find out how much income tax and other taxes you will owe and compare that to the information you've given to the Canadian Revenue Agency (CRA).

Source: CBC News February 12, 2021 00:33 UTC