Skip to main content

Featured

Nine Provinces Just Made It Legal to Order Wine Straight From Other Provinces — Here's What It Means for Your Wallet

  July 24, 2026 If you've ever fallen in love with a bottle of wine on an Okanagan vacation and then discovered you couldn't legally have it shipped home to Ontario, that particular headache just got a lot smaller. On Tuesday, premiers from nine provinces signed a formal agreement to open up direct-to-consumer (DTC) alcohol sales across provincial lines. In plain terms: breweries, wineries, and distilleries in one province will soon be able to sell and ship their products straight to your door in another, without routing everything through a provincial liquor monopoly first. The timing isn't a coincidence. The deal landed roughly 24 hours after U.S. President Donald Trump announced a 50% tariff on Canadian wine, beer, and spirits headed south of the border, set to take effect in August. With one export market getting more expensive, provinces are moving to open up the market next door instead. What it means for you: If you live in Ontario, you'll soon be able to legal...

article

How inflation affects your taxes in 2024



If you are a Canadian taxpayer, you may want to know how inflation will impact your taxes in 2024. The Canada Revenue Agency has announced that most income tax and benefit amounts will be indexed to inflation using a 4.7 per cent rate, which is higher than the previous years. This means that the tax brackets, the basic personal amount, and some tax credits will increase to reflect the rising cost of living. Here are some of the key changes you need to know:

  • Tax brackets: The federal income tax brackets for 2024 have been adjusted to account for inflation. The new thresholds are: $55,867 for the 15 per cent bracket, $111,733 for the 20.5 per cent bracket, $173,205 for the 26 per cent bracket, $246,752 for the 29 per cent bracket, and above that for the 33 per cent bracket. The provincial tax brackets have also been indexed to inflation, but using different rates depending on the province.
  • Basic personal amount: The basic personal amount (BPA) is the amount of income you can earn without paying any federal tax. The BPA for 2024 is $15,705, which is higher than the 2023 amount of $15,000. However, the BPA is gradually reduced for taxpayers with net income above $173,205, until it reaches $14,156 for net income of $246,752 or more. The BPA is worth 15 per cent of its value as a non-refundable tax credit.
  • Non-refundable tax credits: Some non-refundable tax credits, such as the age amount, the spouse or common-law partner amount, and the eligible dependant amount, have also been increased for 2024 to reflect inflation. These credits are calculated by multiplying the amount by 15 per cent, the lowest federal tax rate. For example, the age amount for 2024 is $8,421, which means you can claim a credit of $1,263 if you are 65 or older.

Comments