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Trump–Powell Showdown Intensifies as White House Floats Criminal Charges

                                                       Donald Trump and Federal Reserve Chair Jerome Powell A dramatic escalation in the long‑running tension between President Donald Trump and Federal Reserve Chair Jerome Powell has thrust the independence of the U.S. central bank into the spotlight. The conflict deepened after Powell disclosed that the Department of Justice had issued grand jury subpoenas to the Federal Reserve—an action he suggested was politically motivated. The inquiry centers on Powell’s congressional testimony about cost overruns tied to a Federal Reserve building renovation. Powell has dismissed the investigation as a pretext, arguing that the administration’s real aim is to pressure the Fed into cutting interest rates more aggressively, a move Trump has repeatedly demanded. The threat of potential...
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Canada Kicks Off Tax Filing Season


Today marks the official start of the tax filing season in Canada. As of February 24, Canadians can begin submitting their income tax and benefit returns online. This year, the Canada Revenue Agency (CRA) has introduced several updates to its digital services to make the process smoother and more efficient for taxpayers.

One of the key changes for the 2025 tax season is the increase in federal income tax brackets by 2.7% to account for inflation. The new tax rates are as follows:

  • - 15% for earnings up to $57,375
  • - 20.5% for earnings between $57,375.01 and $114,750
  • - 26% for earnings between $114,750.01 and $177,882
  • - 29% for earnings between $177,882.01 and $253,414
  • - 33% for earnings above $253,414

Additionally, the contribution limit for the Registered Retirement Savings Plan (RRSP) has increased to $32,490 for the 2025 tax year, up from $31,560 the previous year. The maximum pensionable earnings and contributions for the Canada Pension Plan (CPP) have also been adjusted, with the Year’s Maximum Pensionable Earnings (YMPE) set at $71,300.

The CRA encourages taxpayers to file their returns early to avoid any last-minute stress and to ensure they receive any refunds or benefit payments they may be eligible for. The deadline for most individuals to file and pay any taxes owed is April 30, 2025. Self-employed Canadians have until June 16, 2025, to file their tax returns, but any money owed should be paid by April 30 to avoid interest charges.

For more information on the 2025 tax filing season and to access helpful resources, visit the CRA's official website.



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