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...
Temporary GST Breaks: What's Covered and What's Not
Starting December 14, 2024, and lasting until February 15, 2025, the Canadian government has introduced temporary GST/HST breaks on a variety of essential items. This tax relief aims to provide financial relief to Canadians during the holiday season.
What's Included:
- Food and Beverages: All groceries, restaurant meals, and drinks will be exempt from GST/HST.
- Children's Items: Clothing, footwear, diapers, car seats, toys, and jigsaw puzzles for all ages will also benefit from the tax break.
- Books and Newspapers: Printed books and newspapers are included in the relief.
- Holiday Decorations: Christmas trees and similar decorative items are also covered.
- Video Game Consoles and Games: Physical video game consoles, controllers, and games qualify for the tax break.
What's Not Included:
- Luxury Items: High-end electronics, jewelry, and luxury clothing are not covered by the GST/HST break.
- Alcoholic Beverages: While regular beverages are included, alcoholic drinks are excluded from the tax relief.
- Non-Essential Toys and Games: Items not specifically listed under children's toys or educational games do not qualify.
- Sports Equipment: Items used exclusively for sports or recreational activities are not included.
This temporary tax break is designed to make essential goods more affordable and provide some financial relief during the holiday season. Make sure to take advantage of these savings while they last!
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