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...
Whether your child is a newborn, working a part-time job, or considering applying to university, there are essential benefits and credits that parents should be aware of as tax season approaches. As a parent, understanding these opportunities can significantly impact your financial well-being. Let’s explore some key points:
1. Canada Child Benefit (CCB)
The Canada Child Benefit (CCB) is a tax-free monthly payment administered by the Canada Revenue Agency (CRA). It aims to assist eligible parents with the cost of raising children. Here’s what you need to know:
- Maximum Benefit: For children under six, the maximum annual benefit is $7,437 ($619.75 per month). For children aged six to 17, it’s $6,275 ($522.91 per month).
- Sign Up: Remember to sign up and apply for the CCB promptly, as there’s no retroactive payment. It begins once you’ve enrolled.
2. Childcare Expenses
Childcare costs can be substantial, but parents can claim certain expenses on their annual tax return. Here’s how it works:
- General Amount: Parents can claim up to $8,000 for children under seven and $5,000 per child aged seven to 16.
- Additional Amounts: Children with disabilities may qualify for additional amounts.
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