Skip to main content

Featured

Canada's Tax Cut 2026: What It Means for Your Wallet

  If you haven't noticed a slightly fatter paycheque in 2026 — you're not imagining it. Canada's middle-class tax cut is now fully in effect, and nearly 22 million Canadians are paying less federal income tax this year. The question is: how much are you actually saving, and what's the smartest thing to do with it? Here's your plain-English breakdown — no tax jargon, no fluff. What Changed — And When In July 2025, the federal government cut the lowest federal income tax rate from 15% to 14% . That rate applies to the first $58,523 of every Canadian's taxable income in 2026 — regardless of how much you earn overall. Because it kicked in mid-year, the effective 2025 rate was a blended 14.5%. In 2026, you get the full 1% reduction from January 1 . Bill C-4 (the Making Life More Affordable for Canadians Act ) received Royal Assent on March 12, 2026 — making this cut permanent law. 2026 Federal Tax Brackets at a Glance The CRA also applied a 2% indexation adjustment...
Post a Comment
Read more

article

Labels

Flair Airlines Ordered to Pay $67 Million in Unpaid Taxes by Federal Government

                                                                                      

Documents show Flair Airlines, a Canadian budget airline, has been ordered by the federal government to pay $67.2 million in unpaid taxes. The money owed is related to import duties on the 20 Boeing 737 Max jetliners that make up the airline’s fleet. Court documents reveal that the Canada Revenue Agency has obtained an order for the seizure and sale of the carrier’s property.

Flair Airlines CEO Stephen Jones has stated that the company has a deal with the Canada Revenue Agency to pay the taxes and is current with that plan. The Federal Court order obtained by the tax agency in November has no impact on the carrier’s operations, which have expanded over the past year and ramped up competition with rival airlines.

The airline has been in the news recently for its legal battles with leasing manager Airborne Capital and three other leasing firms. Flair Airlines launched a $50-million court action against the four companies, arguing that ongoing demands for payment from the four companies were “baseless”.


Labels:

Comments

Post a Comment