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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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Mark Carney Gains Momentum with Key Endorsements in Liberal Leadership Race

 

Liberal leadership hopeful Mark Carney has secured the endorsements of four more current and former cabinet ministers. On Tuesday, Indigenous Services Minister Patty Hajdu, Crown-Indigenous Relations and Northern Affairs Minister Gary Anandasangaree, and former housing minister Sean Fraser all threw their support behind Carney on social media. 

Environment Minister Steven Guilbeault also endorsed Carney while speaking to reporters at the Liberal cabinet retreat in Montebello, Quebec. Guilbeault praised Carney's experience and background, highlighting their collaboration on issues such as green energy transition and fighting climate change. 

Carney's stance on carbon pricing has been a focal point of his campaign. While he has been a longtime supporter of carbon pricing to combat climate change, he has hinted at a policy shift, suggesting that if the carbon price is to be replaced, it must be with something equally or more effective. 

The Liberal Party will choose a new leader on March 9 to replace Prime Minister Justin Trudeau, who announced his resignation earlier this month. Carney's growing list of endorsements positions him as a strong contender in the leadership race.

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