News of the day: National Bank beats expectations, late tax filing penalties, inheritance disputes, Loblaws’ tariff produce labels, savings struggle and more

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeUncategorizedNews of the day: National Bank beats expectations, late tax filing penalties, inheritance disputes, Loblaws' tariff produce labels, savings struggle and moreCatch up on the stories we’re following todayNational Bank of Canada reported earnings on Wednesday. Photo by Ben Nelms/BloombergIt’s Wednesday, August 26. Here are the top stories we’re following today.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountNational Bank of Canada’s net income for the three months ending July 31 was $1.30 billion, up 23 per cent from $1.06 billion during the same quarter last year, resulting in net earnings per share of $3.25. Multiple late tax returns can trigger steep CRA penalties and daily compounded interest. Photo by DouceFleur/Getty ImagesGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againIf you don’t file your tax return on time, you can be hit with late-filing penalties equal to five per cent of any balance owing, plus one per cent of the balance owing for each month your return is late, to a maximum of 12 months. But, if it’s not the first time you’ve filed late, those penalties will get much worse, writes Jamie Golombek. There are several circumstances that can lead to battles over inheritances. Photo by beeboys - stock.adobe.comThe Great Wealth Transfer from baby boomers to their younger heirs has been widely publicized, with many inheritors hoping it can offset these economic challenges. However, this shift is by no means as clean-cut and organized as it sounds. A shopper browses produce at a Loblaw Cos. Ltd. grocery store in Toronto. Photo by Cole Burston/BloombergLoblaw Cos. Ltd. will reintroduce the country-of-origin labelling in its fresh produce aisles, just weeks after dropping them from displays, as consumers increasingly look to “buy Canadian” amid a trade war with the United States. Paying down high-interest balances, building an emergency fund and automating contributions can help you get on track. Photo by SB Arts Media - stock.adobe.comIt may feel as though willpower is the issue, but debt payments and everyday spending are often using up a paycheque before you get the chance to set savings aside, writes Mary Castillo.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.