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Five Key Tax Changes Coming in 2026: What Canadians Need to Know

  As 2026 approaches, Canadians can expect several important updates to the federal tax system. These changes affect retirement planning, income tax brackets, and a range of credits that influence how much individuals and families will owe—or save—when filing their returns. Here’s a quick look at five of the most notable adjustments. 1. Higher RRSP Contribution Limits Canadians will be able to contribute more to their Registered Retirement Savings Plans (RRSPs) in 2026, thanks to inflation indexing. The increased limit gives savers more room to reduce taxable income while building long‑term retirement security. 2. Updated Federal Tax Brackets Income tax brackets will shift upward to reflect inflation. This means more of your income will be taxed at lower rates, helping offset rising living costs and preventing “bracket creep,” where inflation pushes taxpayers into higher tax brackets without real income gains. 3. Increased Basic Personal Amount (BPA) The Basic Personal Amoun...

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Your daily horoscope: December 9, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

The message of your birthday chart this year is that you need to be less serious about your activities in general and about relationships in particular. If you look for it you can always find a reason to laugh. Life’s funny like that.

ARIES (March 21 - April 20):

You must be realistic about your ambitions. You may be energetic and adventurous by nature but there are goals that even you, an Aries, cannot possibly reach. You can and you will taste success but you need to keep your feet on the ground.

TAURUS (April 21 - May 21):

Stop worrying about the little things that might go wrong and focus instead on the big things that are sure to go right. Keep telling yourself that you are on the verge of a breakthrough and keep believing that you deserve the best – and you’ll get it!

GEMINI (May 22 - June 21):

It may seem as if a friend or loved one is keeping things from you but while your ruling planet Mercury is going through its retrograde phase it’s likely that you have got the wrong end of the stick. Believe the best of people, not the worst.

CANCER (June 22 - July 23):

You may find it hard to get your point across as the new week begins but it’s not really a big deal so don’t let it worry you. If words don’t come easy to you try using body language instead – that’s something you are impressively fluent in.

LEO (July 24 - Aug. 23):

No, you don’t have to work twice as hard as everyone else to get yourself noticed. On the contrary, employers and other powerful people are well aware of who you are and what you can do, so keep on doing it and the rewards will follow.

VIRGO (Aug. 24 - Sept. 23):

You may be tempted to make excuses for those of your efforts that did not work out for the best but you really don’t need to. The past is over and done with and your one and only focus now should be on building a successful future.

LIBRA (Sept. 24 - Oct. 23):

It might be wise to watch what you say today because some of the people you deal with are going to be rather touchy. The slightest criticism could give them the excuse they need to start complaining about how unfair the world is to them.

SCORPIO (Oct. 24 - Nov. 22):

It is essential that you acquaint yourself with all the relevant facts and figures before offering an opinion on a matter of some importance. If there are gaps in your knowledge don’t try to bluff, just admit there are things you still need to learn.

SAGITTARIUS (Nov. 23 - Dec. 21):

It does not matter that you have been a bit slow off the mark of late because that means you won’t have made any major mistakes that you have to go back and fix later on. Some of your friends and colleagues may not be so lucky though.


CAPRICORN (Dec. 22 - Jan. 20):

If you have a clear idea of what you are trying to achieve there is no doubt at all that you will enjoy considerable success over the next few days. Time spent thinking and planning is never time wasted, especially where your long-term objectives are concerned.

AQUARIUS (Jan. 21 - Feb. 19):

Don’t worry too much if you find it difficult to get going today because most people will be feeling a little lethargic. In fact, as mind planet Mercury is going through its retrograde phase it may be a smart move to do less for a while.

PISCES (Feb. 20 - Mar. 20):

You can be a bit gullible at times, mainly because you find it hard to believe that your fellow human beings would want to cheat you, but you need to be on your guard now. Check everything you are told, even when it comes from a trusted source.

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