Thursday, July 9, 2026 Every July, a wave of federal benefit payments resets for the new benefit year — and 2026 brings one of the biggest shifts in years. Between a permanent 25% boost to the old GST/HST credit, a fresh Canada Child Benefit increase, and the largest quarterly OAS bump of the year, millions of Canadian households will see different numbers land in their accounts this month. Here's what actually changed, and what to check in your own CRA account. The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) . It's not a new program from scratch — it runs on the same CRA infrastructure and eligibility rules — but the payment amounts are 25% higher, and that increase is locked in for five years. The first CGEB payment went out on July 3, 2026. Under the new structure: A single individual with no children can receive up to roughly $679 per year (about $170 per quart...
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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