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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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How Inflation and Longer Sales Season Will Affect Black Friday Shopping in 2023



Black Friday, the biggest shopping event of the year, is approaching fast. But this year, shoppers may face some challenges and changes due to the impact of inflation and the longer sales season.

Inflation, which is the general increase in the prices of goods and services, has been rising steadily in 2023. According to the U.S. Bureau of Labor Statistics, the consumer price index (CPI) increased by 5.4% in September 2023 compared to the same month last year. This means that consumers have to pay more for the same items they bought before.

Inflation can affect Black Friday shopping in several ways. First, it can reduce the purchasing power of consumers, especially those with fixed or low incomes. Second, it can make the discounts offered by retailers less attractive, as they may not be enough to offset the higher prices. Third, it can create uncertainty and anxiety among consumers, who may postpone or cancel their purchases due to the fear of further price increases.

Another factor that can influence Black Friday shopping in 2023 is the longer sales season. Due to the pandemic and the shift to online shopping, many retailers have started offering deals earlier and extending them beyond the traditional Black Friday weekend. For example, Amazon launched its Holiday Dash event on October 15, 2023, which offers daily deals until November 19, 2023. Walmart also announced its Deals for Days event, which will run from November 3 to November 28, 2023.

The longer sales season can have both positive and negative effects on Black Friday shopping. On the one hand, it can give consumers more time and options to find the best deals and avoid the crowds and stress of shopping on a single day. On the other hand, it can also reduce the sense of urgency and excitement that Black Friday generates, as well as the potential savings that consumers can get from buying on the day itself.

Therefore, Black Friday shopping in 2023 may be different from previous years, as consumers and retailers have to adapt to the new economic and market conditions. Consumers may have to be more careful and strategic with their spending, while retailers may have to offer more incentives and value-added services to attract and retain customers.

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