Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
Electricity Canada has raised concerns about a proposed tax change that could have significant implications for consumers. The alteration, outlined in the government’s bill to implement its fall mini-budget, aims to align Canada’s tax rules with those of other countries that operate across multiple jurisdictions.
The proposed adjustment to the Income Tax Act would bring Canada in line with the United States, the United Kingdom, and Ireland. However, the impact on privately operated utilities—particularly electricity and natural gas companies—could be substantial.
Michael Powell, Vice President of Government Relations at Electricity Canada, warns that this change may force privately operated utilities to increase the rates charged to consumers. The issue arises from the reduction in tax exemptions for debt loads, which would result in higher income tax bills for these companies.
As private utilities often carry higher debt loads to maintain lower rates, the proposed tax change could lead to rate hikes for electricity and natural gas services. Consumers in affected provinces should closely monitor developments and prepare for potential adjustments to their utility bills.
While the goal is to harmonize tax rules internationally, the impact on everyday Canadians remains a critical consideration. As the bill progresses, citizens and policymakers alike will be watching closely to assess its effects on household budgets.
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