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5 Things to Know Today: Oil Tops $100, Tariffs Take Effect, TSX Slides — Sept 9

  September 9, 2026 Here's what's moving markets and your wallet today — from a fresh oil shock to a stock that just had its worst week in months. 1. Oil Tops $100 a Barrel for the First Time Since July Brent crude broke back above $100 a barrel overnight after Houthi drones and missiles struck Saudi Aramco energy facilities in Jazan, Abha and Najran, wounding more than 70 people and halting operations at several sites. The attacks followed U.S. strikes on Iranian oil tankers over the weekend, deepening a Middle East conflict now in its seventh month. What it means for you: Ottawa's fuel excise tax pause (extended to Jan. 31, 2027) is holding, but it can't offset a rising crude price — CAA's national average sits at 179.9¢/L today, up from 170.5¢/L just five weeks ago. If your tank is low, fill it before this keeps climbing. 2. TSX Slides for a Second Straight Day The S&P/TSX Composite closed Tuesday at 36,123.05, down 390.75 points (-1.07%), its second consecu...
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Avoid These Common Tax Mistakes on Your Canadian Tax Return

 

As tax season approaches, it’s essential to be aware of common mistakes that can impact your Canadian tax return. Even the most diligent taxpayers may inadvertently slip up. Here are some key errors to avoid:

  1. Double-Reporting Income: Ensure you don’t accidentally report the same income twice. Whether it’s employment income, investment gains, or other sources, cross-check your records to prevent duplication.

  2. Unclaimed Income: Don’t forget to include all your income, including side gigs, freelance work, or tips. Unreported income can lead to penalties.

  3. Late Filing: Missing the tax filing deadline can be costly. For most individuals, the deadline is April 30. If it falls on a Sunday, ensure your postmark is on or before May 1. Self-employed individuals have until June 30 to file their returns.

  4. Omitting Information: Be thorough when filling out your return. Missing details can result in errors or missed deductions.

  5. Not Maximizing Deductions: Take advantage of all eligible deductions and credits. Research what you qualify for and ensure you claim them.

Remember, even small mistakes can have significant consequences. Seek professional advice if you’re unsure, and double-check your return before submitting it. 

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