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Federal Budget 2025: What It Means for Your Money

The 2025 federal budget introduces a mix of tax cuts, housing measures, and spending shifts that will directly affect Canadians’ day-to-day finances. While the government projects a significant deficit, the plan focuses on affordability and long-term growth. Here are eight key ways it impacts your wallet: 1. Lower Income Taxes The lowest federal tax bracket will be reduced from 15% to 14% starting mid-2025, giving middle-income earners some relief. 2. Vacant Home Measures The Underused Housing Tax will be expanded to discourage vacant and underutilized properties, aiming to free up more housing supply. 3. Student Loan Relief Repayment assistance will be enhanced, with lower income thresholds and capped monthly payments to ease the burden on graduates. 4. Consumer Protection New rules will cut down on excessive banking fees and strengthen protections for financial consumers, especially those with modest incomes. 5. Housing Affordability Programs Funding will support first-...

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Your daily horoscope: February 1

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

You won’t have to make any major changes over the coming year. On the contrary, if you sit back and let life come to you then good things will occur as if by magic. The higher power that looks after your interests will provide everything you need.

ARIES (March 21 - April 20):

A colleague, or even the friend of a colleague, will be more than willing to help you out with a difficult task this weekend. Don’t be suspicious and think it’s because they want something from you in return – they just want to see you do well.

TAURUS (April 21 - May 21):

Sometimes you can be too low key for your own good and the message of the stars this weekend is that you need to adopt a more assertive attitude, especially on the work front where keeping your head down could actually damage your prospects.

GEMINI (May 22 - June 21):

Career matters are under excellent stars this weekend and if you reach out to your employer or someone above you on the corporate ladder they will go out of their way to accommodate your needs. As far as they are concerned you are worth the effort.

CANCER (June 22 - July 23):

Someone whose outlook on life is a little too conservative needs to be coaxed into making changes. With a bit of encouragement they can be persuaded to get their thinking more up to date, which in the long-term will benefit both of you.

LEO (July 24 - Aug. 23):

Something you discover about a friend over the next 48 hours will answer the nagging doubts you’ve been having about their motives. It seems they are not being evasive or unethical at all – on the contrary, their intentions are entirely honourable.

VIRGO (Aug. 24 - Sept. 23):

Find ways to make your peace with someone you have fallen out with in recent weeks. The fact that you are making the effort will encourage them to respond in kind and it won’t be long before you are the best of friends again.

LIBRA (Sept. 24 - Oct. 23):

You may be inclined to keep your feelings to yourself this weekend but the planets warn that approach could lead to friends and family members questioning your motives. If you are open about what you are up to they will actually be quite supportive.

SCORPIO (Oct. 24 - Nov. 22):

If you get advice from a friend or workmate this weekend you would be a fool not to make use of it. They have been there and done it before you and if you can learn from their mistakes you will make fewer mistakes of your own.

SAGITTARIUS (Nov. 23 - Dec. 21):

You may be a risk-taker by nature but sometimes you can sense that it might be best to play safe and such a time is now. Listen to what your inner voice is trying to tell you – because its message could actually save you from yourself.


CAPRICORN (Dec. 22 - Jan. 20):

You are not the sort to turn away people who need your support but you will need to be more selective about who you choose to help over the next 48 hours. Why assist those who are more than capable of looking after themselves?

AQUARIUS (Jan. 21 - Feb. 19):

Don’t worry if something has gone out of your life because something even better will be moving in to replace it. You need to get past the idea that happiness comes from reaching a point where nothing ever changes, because life doesn’t work like that.

PISCES (Feb. 20 - Mar. 20):

The more you do for other people the better off the planet as a whole will be. You may think that your small efforts cannot have much of an effect but benevolent words and actions create cosmic ripples that spread outward forever.


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