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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: December 30, 2024

 

HOROSCOPE IF TODAY IS YOUR BIRTHDAY

You don’t need to make any big resolutions on your birthday. With a new moon to inspire you the right opportunities will arrive at just the right time and you will know without a shadow of a doubt what must be done – and you will do it magnificently!

ARIES (March 21 - April 20):

If you make yourself useful to someone in a position of authority now they will find ways to repay you early in the new year. That may sound a bit mercenary but in this dog eat dog world who you know is as important as what you know.

TAURUS (April 21 - May 21):

If you want to do something out of the ordinary today, something you know is likely to shock friends and family members, then go for it 100 per cent. It’s a good way to end the old year and an even better way to start the new one.

GEMINI (May 22 - June 21):

It’s time to look ahead and start thinking about your long-term aims and ambitions. That applies as much to personal matters as it does to your career. You need to invest in the people you are closest to emotionally if you want to succeed professionally.

CANCER (June 22 - July 23):

Partnerships are under excellent stars at the moment and today’s new moon will bring you into contact with an individual who can help make your dreams come true. The main reason for that is because their dreams are pretty much the same as your own.

LEO (July 24 - Aug. 23):

For some reason you have got it into your head that you need to prove yourself to the people you work with and for. Usually, of course, it’s the other way round in that you expect them to prove themselves to you. Get things back to normal quickly.

VIRGO (Aug. 24 - Sept. 23):

This is one of the best days you could hope for when it comes to creative activities, so don’t sit at home watching the old year come to a close, get out into the world and cause some serious waves. Make your talents work for you.

LIBRA (Sept. 24 - Oct. 23):

Anyone who thinks you will meekly do what they demand of you today is in for a reality check and it could be painful. But try not to take too hard a line when it comes to family matters – harmony on the home front is essential.

SCORPIO (Oct. 24 - Nov. 22):

Your focus has been too narrow of late and you need to widen your horizons if you are to make the most of the opportunities now coming your way. Keep your eyes and ears open and be ready to act swiftly when you get the chance to shine.

SAGITTARIUS (Nov. 23 - Dec. 21):

No matter how enthusiastic you may be about a new job or project you must insist that you get paid a fair rate for your brilliant work. The fact that you enjoy it so much is not an excuse for your bosses to rip you off financially! 


CAPRICORN (Dec. 22 - Jan. 20):

A new moon in your sign means that something you begin over the next day or two is going to be of major importance to you over the following six months. You can and you will outshine your rivals and make a name for yourself.

AQUARIUS (Jan. 21 - Feb. 19):

As the old year comes to a close you should be spending at least some of your time now looking back and assessing your journey so far. Only then will you be in a position to decide what your next major moves are going to be.

PISCES (Feb. 20 - Mar. 20):

Get out and about and have fun with your friends. A new moon in the area of your chart that encourages group activities makes this the perfect time to get together with like-minded people and let your hair down a bit – or even a lot!

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