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Canadian Money Brief – June 3, 2026: TSX Hits Record, Wall Street Retreats from Highs

  Wednesday, June 3, 2026  |    MoneySavings.ca Daily Markets Desk Markets head into Wednesday on a cautious note. Tuesday's record-setting session on the TSX and another all-time high for Wall Street are giving way to some early-morning hesitation — Dow futures are sliding ahead of the open as investors digest elevated oil prices, fresh warnings from the International Energy Agency, and ongoing uncertainty around the U.S.-Iran situation. Here's where everything stood at Tuesday's close and what to watch today. Canada — TSX Composite The S&P/TSX Composite closed Tuesday, June 2 at 35,169 , up 434 points (+1.25%) — a fresh all-time record. The index has now gained roughly 10% year-to-date , making it one of the stronger-performing major benchmarks globally. Energy and mining stocks led the charge. Canadian Natural Resources rose 2.8%, Imperial Oil gained 3%, and Cenovus advanced 4%. Among miners, Barrick climbed 2% on reports it is exploring a London listing for ...
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Tax-Savvy Strategies: Maximizing Your CRA Returns

                                         

    
As the tax season looms, Canadians are reminded of the April 30 deadline for filing and payment to avoid penalties from the Canada Revenue Agency (CRA). To ensure a smooth tax experience and potentially increase your returns, here are some key strategies:

  1. 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.

  2. 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.

  3. 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.

  4. 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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