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Five Key Tax Changes Coming in 2026: What Canadians Need to Know

  As 2026 approaches, Canadians can expect several important updates to the federal tax system. These changes affect retirement planning, income tax brackets, and a range of credits that influence how much individuals and families will owe—or save—when filing their returns. Here’s a quick look at five of the most notable adjustments. 1. Higher RRSP Contribution Limits Canadians will be able to contribute more to their Registered Retirement Savings Plans (RRSPs) in 2026, thanks to inflation indexing. The increased limit gives savers more room to reduce taxable income while building long‑term retirement security. 2. Updated Federal Tax Brackets Income tax brackets will shift upward to reflect inflation. This means more of your income will be taxed at lower rates, helping offset rising living costs and preventing “bracket creep,” where inflation pushes taxpayers into higher tax brackets without real income gains. 3. Increased Basic Personal Amount (BPA) The Basic Personal Amoun...

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Your daily horoscope: August 2, 2024

 


HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Values planet Venus is strong on your birthday this year and it’s quite likely that you will have to deal with people who don’t share your outlook on life. Deal with them kindly and with the understanding that not everyone can be as big-hearted as you

ARIES (March 21 - April 20):

There is no point lashing out at someone who is annoying you – in fact that may be what they want, to provoke you so as to make you look bad. Bite your tongue, put on a smile and act as if you find them amusing rather than irritating.

TAURUS (April 21 - May 21):

You may be impatient for success but today’s link between your ruling planet Venus and Uranus in your sign warns you must not cut corners or take unnecessary risks. Success will come when the time is right, so why hurry or worry?

GEMINI (May 22 - June 21):

A topic that has not interested you much in the past will suddenly become most appealing and you will spend a lot of time today and over the weekend getting to know more about it. What you learn will benefit you in ways you had not expected.

CANCER (June 22 - July 23):

You want to be friends with everyone at the moment and will go out of your way to keep things sweet. That’s fine as far as it goes but don’t go too far or you could give people the idea that you can be easily manipulated.

LEO (July 24 - Aug. 23):

Not everything in life has a rational explanation and what happens today will most likely leave you baffled. Instead of obsessing over it just accept that it’s one of those things that is likely to remain a mystery and that life would be less fun without it.

VIRGO (Aug. 24 - Sept. 23):

If you are smart you will sense which way the wind is blowing and put off making an important decision until next week. The approaching new moon is going to shake up your thinking in radical ways, so relax and keep things as they are for now.

LIBRA (Sept. 24 - Oct. 23):

At some point today you will get the impression that you have been moving in the wrong direction and need to change course, but don’t be hasty. Come Monday’s new moon you will realize you are still on the track that is right for you personally.

SCORPIO (Oct. 24 - Nov. 22):

Even if you are finding it hard to get motivated on the work front you can and you must keep going. The harder you have to work for something today and over the weekend the more you will appreciate it when you finally succeed.

SAGITTARIUS (Nov. 23 - Dec. 21):

Give your imagination permission to roam over the next 24 hours and don’t put any limits on what you are allowed to believe. Your mind is a powerful tool and no matter what you may imagine today, however fanciful, it could easily be your reality tomorrow.

CAPRICORN (Dec. 22 - Jan. 20):

Try not to let little things annoy you today because you cannot change the fact that some people are obsessed by trivial matters. What you can do though is to put as much distance between them and you as possible and ignore their petty behaviour.

AQUARIUS (Jan. 21 - Feb. 19):

It’s not like you to get emotional but someone’s stupidity could reduce you to tears of frustration today. You should know by now that no matter what you say or do they are not going to change, so it’s really not worth getting upset about is it?

PISCES (Feb. 20 - Mar. 20):

A decision about a partnership matter will at some point have to be made but don’t force the issue just yet. Let the approaching new moon do its work in clarifying the situation. With luck, changing circumstances will make the decision for you.

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