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Canadian Money Brief – June 1, 2026: Markets Kick Off June on a High Note

  Markets Kick Off June on a High Note A strong finish to May carries momentum into the first trading session of June, with tech leading the charge and a major Berkshire deal grabbing headlines. At a Glance — Friday May 29 Close (Most Recent Confirmed) Index / Asset Level Change S&P/TSX Composite 34,769 +0.73% S&P 500 7,580 +0.22% Dow Jones 51,032 +0.72% Nasdaq Composite 26,973 +0.20% CAD/USD 0.7249 –0.06% WTI Crude Oil US$87.36/bbl –1.73% Gold US$4,574/oz –0.42% Sources: Yahoo Finance, Trading Economics. Closing data as of May 29, 2026. June 1 intraday data referenced in body. May Goes Out on a High North American markets wrapped up May in fine form. All three major U.S. indexes — the S&P 500, the Dow, and the Nasdaq — finished Friday at record closing highs, capping a month that saw the tech-heavy Nasdaq surge roughly 8% and the S&P 500 gain around 5%. The TSX also had a solid run, closing above the 34,700 mark on Friday, supported by a rebound in financials and ...
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Navigating Uncertainty: Capital Gains Tax Changes Leave Taxpayers in a Bind

The recent prorogation of Parliament by Prime Minister Justin Trudeau has thrown taxpayers into a state of uncertainty regarding capital gains tax. The Canada Revenue Agency (CRA) continues to enforce the proposed changes, which increase the inclusion rate from 50% to 66.67% for gains over $250,000, despite the legislation not being formally enacted. This leaves taxpayers with two unappealing options: file based on the proposed legislation and potentially overpay, or file based on the previous rules and risk future penalties.

The CRA's decision to uphold the proposed changes, citing consistency and fairness, has frustrated many who made financial decisions based on the anticipated tax hike. With the future of the legislation uncertain, taxpayers are left scrambling to decide the best course of action.

This situation highlights the need for clear and timely legislative processes to avoid such dilemmas in the future. Until then, taxpayers must navigate these murky waters with caution and seek professional advice to mitigate potential risks.






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