Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
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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