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5 Things to Know Today: Gordie Howe Bridge Opens, Gas Prices Drop, and the Fed Decision That Could Move Your Loonie

  Monday, July 27, 2026 From a long-delayed border crossing finally opening to a Fed decision that could nudge the loonie, here's what's moving Canadian wallets today. 1. The Gordie Howe Bridge Opens Today — But You Can't Drive on It Until August 1 The long-delayed Gordie Howe International Bridge between Windsor and Detroit holds its official opening today, July 27, more than six weeks after its original June target. The catch: today's ceremony doesn't mean traffic yet. Vehicles won't be allowed on the six-lane, cable-stayed span until August 1. Once open, the toll is set at $8 CAD (US$5.75) each way for most passenger vehicles. What it means for you: If you cross the Windsor-Detroit corridor for work, shopping, or family, mark August 1 on your calendar, not today, and budget roughly $8 a crossing on top of gas. 2. Gas Prices Are Easing After the Weekend Oil Crash Oil prices tumbled over the weekend after the US and Iran paused hostilities, with both Brent and...
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Principal Residence and Taxes in Canada


When you sell your home, you may realize a capital gain. If the property was solely your principal residence for every year you owned it, you do not have to pay tax on the gain. However, if at any time during the period you owned the property, it was not your principal residence, or solely your principal residence, you might not be able to benefit from the principal residence exemption on all or part of the capital gain that you have to report.

To designate a property as the principal residence, it does not have to be the place where the taxpayer lives all the time. The property will qualify as a principal residence if the taxpayer, taxpayer’s current or former spouse or common-law partner, or any of the taxpayer’s children lived in it at some time during the year.

If you sold property in 2022 that was, at any time, your principal residence, you must report the sale on Schedule, Capital Gains (or Losses) in 2022, and Form T2091 (IND), Designation of a Property as a Principal Residence by an Individual (Other Than a Personal Trust).


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