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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: October 10, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

Venus in the money area of your chart is linked to Jupiter on your birthday, so you would be wise to limit your spending to things that you genuinely need. You won’t have to go without luxuries completely but you will need to control your tendency to overindulge!

ARIES (March 21 - April 20):

You have never been the sort to back away from confrontation and you are not about to start now. Think tough and act tough over the next 24 hours even though you may not feel at your best physically. You can be a pretty good actor at times.

TAURUS (April 21 - May 21):

By all means stand up for your beliefs today but don’t start arguments just for the fun of it. It’s one thing to take a minority view on something but it’s not a good idea to make out that everyone who does not agree with you is stupid.

GEMINI (May 22 - June 21):

You will come under pressure on the work front today but that’s a good thing in that it will force you to get your act together and stop coasting on charm alone. Whatever the challenge may be you have what it takes to get past it.

CANCER (June 22 - July 23):

Either everything will go right for you today or nothing will go right, there is no middle ground. Hopefully you will be on the winning side but, if not, don’t take your defeats too seriously – there is still tomorrow and the day after that.

LEO (July 24 - Aug. 23):

It may be frustrating that you have to deal with a situation you have been through a dozen times before but some people are incapable of learning even the easiest of lessons, so point out to them what they are doing wrong, then get them to do it correctly.

VIRGO (Aug. 24 - Sept. 23):

If a rival says something today that is clearly untrue you must pounce on their error and let people in positions of authority know that you at least are on the ball. Is it wrong to take advantage of other people’s mistakes? Of course not!

LIBRA (Sept. 24 - Oct. 23):

Don’t let it worry you if something you have been working on diligently for the past few weeks has to be put aside for a while. There is something else that must be dealt with first and your original venture won’t suffer because it has to wait.

SCORPIO (Oct. 24 - Nov. 22):

An unexpected delay may be frustrating but it’s not the end of the world so don’t get upset about it. Use the extra time you’ve been given to go over the details of what you are working on and make sure you’ve left nothing to chance.

SAGITTARIUS (Nov. 23 - Dec. 21):

You enjoy a good story but what a colleague tells you today is so obviously a fiction that it will amuse you to think they actually believe it. Don’t bother trying to explain it to them though, they have too much invested in it being true.

CAPRICORN (Dec. 22 - Jan. 20):

You may not be in the mood for conversation but a friend clearly needs someone to talk to, so make yourself available and at least pretend to be interested in what they have to say. The advice you end up giving them will put their mind at rest.

AQUARIUS (Jan. 21 - Feb. 19):

You need to focus less on money and possessions and more on personal relationships. Your cashflow situation may be far from happy but a loved one’s happiness is what matters now, so do whatever it takes to get them smiling again.

PISCES (Feb. 20 - Mar. 20):

You enjoy discussing social and political issues but what starts as an amicable exchange of views could quickly degenerate into a shouting match. Now that you are aware of that you can tone things down a bit. What does anger resolve? Nothing at all.

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