April 10 roundup - MoneySense

April 10 roundup

On Canadians finally heeding debt warnings, a new virtual currency and tough penalties on tax cheats.


•A new poll suggests more Canadians are mentally prepared to deal with their debt levels by cutting back on spending. Two-thirds of those surveyed said they were generally comfortable with what they owe. Still, some 63% said they wanted to decrease their debt levels over the next year, up 4.5% from a year earlier.

•First the penny got dumped, then came news of the glow-in-the-dark dinosaur quarter. What’s next for the Royal Canadian Mint? Well, the short answer is virtual currency. MintChip is new and it’s as anonymous as cash, leaving no electronic record of who paid what to who.

•Canada’s tough tax policy is raising fairness concerns. The penalty for failing to report income is 20% of the amount that was not reported.