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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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U.S. Embassy in Kyiv Closes Amid Warnings of Significant Russian Air Attack

 

In a precautionary move, the U.S. Embassy in Kyiv has temporarily closed its doors following warnings of a potentially significant Russian air attack. The embassy issued a statement advising employees to shelter in place and recommended that U.S. citizens in Kyiv be prepared to take immediate shelter if an air alert is announced.

This closure comes amid heightened tensions after the U.S. authorized the use of longer-range missiles by Ukraine, which were reportedly used in a recent attack on a Russian weapons warehouse. The Kremlin has responded with threats of retaliation, further escalating the conflict that has already seen frequent missile and drone attacks on Ukrainian infrastructure.

The embassy’s warning is notable for its specificity, as air attacks have become a near-daily occurrence in Ukraine. However, the recent developments have added a new layer of urgency and caution to the situation.


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