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TSX Reopens to Wall Street Records as Oil Swings on Fresh Hormuz Attack Reports

  Tuesday, August 4, 2026 The TSX is back in session today after Monday's Civic Holiday closure, and it's rejoining a market that moved a lot without it. Wall Street ripped to fresh record highs Monday on a wave of Big Tech buying and a sharp drop in oil prices — only for oil to start climbing again overnight on fresh reports of an attack in the Strait of Hormuz. Here's where every major market stands as trading gets underway. 🇨🇦 TSX: Back in Session After the Holiday The Toronto Stock Exchange and Montreal Exchange were closed Monday for the Civic Holiday and resume regular trading today. The TSX's last close, Friday, July 31, left the S&P/TSX Composite at 35,226.14 , down 0.79% on the day but essentially flat over the prior week. With Wall Street posting a broad, tech-led rally in the interim, Canadian markets open today with some catching up to do — though a firmer oil price could complicate that story for energy-heavy TSX names. 🇺🇸 US Markets: Record Close, ...
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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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