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...
RRSP Contributions: Ensure you report any contributions made to your Registered Retirement Savings Plan (RRSP) within the first 60 days of the year to qualify for a tax refund.
First Home Savings Account: Take advantage of the new First Home Savings Account (FHSA) for tax-deductible contributions and tax-free withdrawals for your first home’s down payment.
Medical Expense Tax Credit: Families can claim the non-refundable medical expense tax credit if their total medical expenses exceed the lesser of $2,635 or 3% of net income.
Home Office Expenses: Remote workers can claim home office expenses, though the flat-rate method is no longer available; detailed tracking is required.
By mastering these tax changes and utilizing accounts like the TFSA, Canadians can lighten their tax burden and keep more money in their pockets. Remember, early preparation is key to a stress-free tax season.
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