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Five Key Tax Changes Coming in 2026: What Canadians Need to Know

  As 2026 approaches, Canadians can expect several important updates to the federal tax system. These changes affect retirement planning, income tax brackets, and a range of credits that influence how much individuals and families will owe—or save—when filing their returns. Here’s a quick look at five of the most notable adjustments. 1. Higher RRSP Contribution Limits Canadians will be able to contribute more to their Registered Retirement Savings Plans (RRSPs) in 2026, thanks to inflation indexing. The increased limit gives savers more room to reduce taxable income while building long‑term retirement security. 2. Updated Federal Tax Brackets Income tax brackets will shift upward to reflect inflation. This means more of your income will be taxed at lower rates, helping offset rising living costs and preventing “bracket creep,” where inflation pushes taxpayers into higher tax brackets without real income gains. 3. Increased Basic Personal Amount (BPA) The Basic Personal Amoun...

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Your daily horoscope: October 6, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Your No. 1 priority this year must be to put your financial situation on a firmer footing. You don’t have to make money your one and only passion but neither should you act as if it doesn’t matter. The rich really do seem to have more fun.

ARIES (March 21 - April 20):

Instead of trying to blame others for something that went wrong hold up your hand and admit that it was your choices that caused the problem. Partners and colleagues will be so shocked by your honesty that they will forgive you on the spot!

TAURUS (April 21 - May 21):

Opportunities to enjoy yourself will come thick and fast over the next few days as your ruler Venus links nicely with Mars. If you are looking for love you are certain to find it. Even if you are not looking, it will be looking for you!

GEMINI (May 22 - June 21):

Although luck planet Jupiter begins its retrograde phase in your sign this week most things will still go well for you. Keep reminding yourself that it is your own thoughts that create your reality. If you expect good things to happen they most certainly will.

CANCER (June 22 - July 23):

Someone you think of as a rival will surprise you over the next few days by offering to do you favors of one sort or another. Push your suspicions to one side and take them up on the offer. It could be the start of a growing friendship.

LEO (July 24 - Aug. 23):

It may be true that a colleague has been using underhand tactics to get ahead but you don’t have to make it your business to do something about it. The planets warn this is one of those occasions when it might be safer to pretend you had not noticed.

VIRGO (Aug. 24 - Sept. 23):

The loftier your ambitions may be the more you will need to safeguard your efforts from people who don’t want to see you succeed. Be especially wary of colleagues who praise you to the skies for minor successes. They are not being sincere.

LIBRA (Sept. 24 - Oct. 23):

It’s a waste of time trying to explain to someone why they should tone down their inflammatory words. The simple fact is they want to provoke a reaction so they can claim to be the one who is being abused. Don’t play their dishonest game.

SCORPIO (Oct. 24 - Nov. 22):

The message of the stars is that you need to start taking life a little less seriously. Yes, of course, there are major issues that must be dealt with but what is really so pressing that it must be seen to now, this very moment? Nothing at all.

SAGITTARIUS (Nov. 23 - Dec. 21):

Your recent run of good luck has depended in large part on other people doing things for you, but as Jupiter begins its retrograde phase this week you won’t be able to rely on them so much. But that’s okay. Create your own good fortune.

CAPRICORN (Dec. 22 - Jan. 20):

You may be tempted to multi-task so as to get through the backlog of work that has built up in recent weeks but don’t try to juggle too much or it could all come crashing down. It’s better to succeed at something than to risk failing at everything.

AQUARIUS (Jan. 21 - Feb. 19):

You have been amazingly cheerful of late but as Jupiter is about to begin its retrograde phase you will need to adopt a more serious tone when dealing with people who find it hard to share your sunny outlook on life. That’s just about everyone!

PISCES (Feb. 20 - Mar. 20):

Feelings will be running high on the home front over the next few days but with a little bit of thought and a lot of give and take it doesn’t have to be traumatic. You may be right and everyone else may be wrong but don’t push it.

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