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The Fed Decides Wednesday — Here's What It Means for Your Mortgage, the Loonie, and Your RRSP

  Monday, July 27, 2026 The U.S. Federal Reserve hands down its rate decision at 2 p.m. ET on July 29. For most Canadians it will feel like background noise. It isn't — here's the plain-language version of why it touches your mortgage, your cross-border spending, and whatever's sitting in your RRSP. The short version: Markets are pricing roughly a two-in-three chance the Fed holds its rate at 3.50%–3.75% on Wednesday. That's not the story. The story is that this is one of the least certain "sure thing" holds in years — and Chair Kevin Warsh's press conference at 2:30 p.m. ET could matter more than the decision itself. Why this meeting is different The Fed has held its benchmark rate steady at 3.50%–3.75% through every meeting so far in 2026. On paper, Wednesday should be more of the same. Under the hood, it's messier. Persistent inflation, running well above the Fed's 2% target for a fifth straight year, has kept a rate hike on the table. The oil-...
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Maximizing Your Tax Return in 2024: Little-Known Deductions You Shouldn’t Miss

 


Getting the most out of your tax return can feel like an early spring bonus. By being strategic about deductions, you could be the difference between owing the government money or getting a refund. Let’s explore some lesser-known deductions that could help you maximize your return:

  1. Maximize Your RRSP Contributions: Contributing to your Registered Retirement Savings Plan (RRSP) can significantly reduce your taxable income. Make sure you’re taking full advantage of this deduction.

  2. Deduct Childcare Expenses: If you paid for childcare services, you may be eligible for deductions. Keep track of these expenses and claim them when filing your taxes.

  3. File Your Return Electronically: Filing your taxes electronically is not only convenient but can also help you get your refund faster. Take advantage of this option.

  4. File Capital Losses from Investments: If you’ve incurred capital losses from investments, don’t forget to report them. These losses can offset capital gains and reduce your tax liability.

  5. Union Dues, Employment Costs, and Home-Office Deduction: If you’re part of a union, deduct your union dues. Additionally, consider employment-related expenses and home-office deductions if applicable.

  6. Deduct Non-Covered Medical Expenses: Some medical expenses that aren’t covered by insurance can be deducted. Keep receipts for things like prescription glasses, dental work, and other eligible costs.

  7. Deduct Student Loan Interest Payments: If you’re paying off student loans, the interest you pay may be deductible. Check the rules in your region to see if you qualify.

Remember, every little bit counts when it comes to maximizing your tax return. Consult a certified financial planner or tax professional to ensure you’re taking advantage of all available deductions. 


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