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Your daily horoscope: February 2, 2026

  IF TODAY IS YOUR BIRTHDAY You can sense that changes are coming and that means you will be ready for them. While everyone else is running around in a panic this year you will be the picture of calm, making you well placed to take advantage of what occurs. ARIES (March 21 - April 20): Something you once believed without question won’t look so cut and dried today and you may have to consider the possibility that you got it seriously wrong. But so what? You are human like everyone else – and it’s really no big deal. TAURUS (April 21 - May 21): If someone refuses to give you what you want today you will, of course, be angry about it. But further down the line you may look back and recognize they made that decision for your own good. For now though, let them know you are not amused. GEMINI (May 22 - June 21): Make an effort to stand outside yourself and see what effect your choices and your actions have on other people. You probably don’t realize that what you do, and even what you sa...
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CRA 2025: New TFSA Limits, Adjusted Tax Brackets, and More!

 

The Canada Revenue Agency (CRA) has announced several key updates for 2025 that will impact taxpayers across the country. Here's a brief overview of the most notable changes:


New TFSA Limits

Starting January 1, 2025, Canadians will be able to contribute an additional $7,000 to their Tax-Free Savings Account (TFSA), bringing the total contribution room to $102,000 for those who have maximized their contributions since the program's inception in 2009. This increase is indexed to inflation and aims to provide more flexibility for savings and investment.


Adjusted Tax Brackets

In response to inflation, the CRA has adjusted the federal tax brackets for 2025. The new brackets are as follows:

  • 0 to $57,375: 15%
  • $57,375 to $114,750: 20.5%
  • $114,750 to $177,882: 26%
  • $177,882 to $253,414: 29%
  • Above $253,414: 33%

These adjustments are designed to ensure that taxpayers are not pushed into higher tax brackets solely due to inflation.


Other Updates

  • The basic personal amount (BPA) has been increased to $16,129, allowing individuals to earn this amount without paying federal income tax.
  • The Canada Pension Plan (CPP) benefits will see a 2.7% inflation adjustment, providing a slight increase in payments.

These changes reflect the CRA's ongoing efforts to adapt to economic conditions and support Canadians in managing their finances effectively.




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