Skip to main content

Featured

CUSMA Renewal Deadline Passes: What It Means for Your Wallet

  July 8, 2026 July 1 came and went without a full renewal of the Canada-United States-Mexico Agreement (CUSMA). Instead of locking in another 16-year term, the United States chose not to extend the deal in its current form, which means the trade pact now shifts into an annual review process for the next decade. Here's what that actually means for your money. What just happened All three countries had until July 1 to say whether they wanted to renew CUSMA. Because Washington opted against a full renewal, the agreement now gets reviewed annually rather than being locked in for over a decade. Canada's Trade Minister Dominic LeBlanc confirmed the three countries agreed to keep talking, with Canada specifically pushing to address sectoral tariffs on steel, aluminum, autos, and lumber. Any of the three countries can still walk away entirely with six months' notice. The good news: most trade stays tariff-free For now, the status quo holds. The bulk of Canadian exports to the U.S....
Post a Comment
Read more

article

Labels

Federal Government Extends Charitable Donation Tax Deduction Deadline to February 2025


In response to the recent Canada Post strike, the federal government has announced an extension for the deadline to claim charitable donations on tax returns. Originally set for December 31, 2024, the new deadline is now February 28, 2025.

Finance Minister Dominic LeBlanc stated that this extension aims to mitigate the impact of the strike, which significantly disrupted mail-in donations during the crucial holiday season. Charities, such as the Salvation Army, reported a drop in donations by over 50% due to the strike.

The government plans to introduce legislation to amend the Income Tax Act once Parliament resumes on January 27, 2025. This extension is expected to provide charities with additional time to receive and process donations, ensuring they can continue their vital work in communities across Canada.



Labels:

Comments

Post a Comment