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Canada's Tax Cut 2026: What It Means for Your Wallet

  If you haven't noticed a slightly fatter paycheque in 2026 — you're not imagining it. Canada's middle-class tax cut is now fully in effect, and nearly 22 million Canadians are paying less federal income tax this year. The question is: how much are you actually saving, and what's the smartest thing to do with it? Here's your plain-English breakdown — no tax jargon, no fluff. What Changed — And When In July 2025, the federal government cut the lowest federal income tax rate from 15% to 14% . That rate applies to the first $58,523 of every Canadian's taxable income in 2026 — regardless of how much you earn overall. Because it kicked in mid-year, the effective 2025 rate was a blended 14.5%. In 2026, you get the full 1% reduction from January 1 . Bill C-4 (the Making Life More Affordable for Canadians Act ) received Royal Assent on March 12, 2026 — making this cut permanent law. 2026 Federal Tax Brackets at a Glance The CRA also applied a 2% indexation adjustment...
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Your daily horoscope: August 17, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Each birthday is a milestone but you can sense that this anniversary is of special significance. If you make the most of your many opportunities over the coming year your life will be transformed in ways that seem miraculous. Make magic happen.

ARIES (March 21 - April 20):

Don’t waste your time complaining about other people’s behaviour this weekend because it won’t make any difference. Instead, save your breath and your energy and focus on a creative activity that makes you feel as if you are doing something positive in life.

TAURUS (April 21 - May 21):

Someone you socialize with will say controversial things for the fun of it this weekend and if you are smart you won’t take a word of it seriously. No matter how outrageous their claims may be don’t rise to the bait. Laugh at them instead.

GEMINI (May 22 - June 21):

A work-related issue is not as bad as you think it is, so stop worrying about it and focus instead on people and activities that make you happy. Your mind creates your reality, so be positive in thought and deed and don’t forget to smile!

CANCER (June 22 - July 23):

You need to be careful with money over the next few days because both the approaching full moon and Mercury’s retrograde phase will make it all too easy to waste your resources on things you don’t need – and on people who do not deserve your generosity.

LEO (July 24 - Aug. 23):

The sun in your sign at this time of year makes you eager to push ahead with your plans but other influences are likely to frustrate you over the next 48 hours. That’s okay. Just because the clock is ticking does not mean you have to hurry.

VIRGO (Aug. 24 - Sept. 23):

A half-hearted effort is better than no effort at all, so force yourself to at least get started on a chore of some kind this weekend. Once you get into a rhythm you may be surprised to discover that it’s not such a boring job after all.

LIBRA (Sept. 24 - Oct. 23):

Friends and loved ones could be rather demanding this weekend and there will be times when you are inclined to tell them to get off your back. A better response might be to say the words they want to hear and then do things your own way anyway.

SCORPIO (Oct. 24 - Nov. 22):

Your enemies are few and your friends are many, so why are you so bothered about those who oppose you? The message of the stars today is that you need to lighten up a little. You don’t need to spend every last moment of your life on edge.

SAGITTARIUS (Nov. 23 - Dec. 21):

What a colleague or maybe even your employer tells you today will most likely annoy you but don’t get so uptight about it that you neglect to look ahead and see where this turn of events might lead. It could nudge you in a profitable new direction.


CAPRICORN (Dec. 22 - Jan. 20):

It may seem as if everyone but you knows what is going on at the moment but there is no need to panic. Partners, colleagues and loved ones are as much in the dark as you are, only they tend to disguise that fact better than you do!

AQUARIUS (Jan. 21 - Feb. 19):

If you rush around trying to get fifty things done at the same time today you will quickly wear yourself out. Instead, focus on the two or three aims that are of most importance to you and forget about the rest. No one expects you to be Superman!

PISCES (Feb. 20 - Mar. 20):

Your head may be full of big ideas but can you be sure they are good ideas? Mercury’s retrograde phase means your mind may not be as sharp as you would like it to be, so maybe get a second opinion before embarking on anything new.

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