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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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Trump Delays Tariffs on Canada and Mexico to April 2

 

In a recent announcement, U.S. President Donald Trump has postponed the implementation of 25% tariffs on imports from Canada and Mexico to April 2. This decision comes after an initial deadline of March 4 was set earlier this month. The delay was revealed during Trump's first cabinet meeting, where he mentioned his superstition about starting the tariffs on April 1.

The tariffs, which target non-energy goods from Canada and various imports from Mexico, have been a point of contention between the U.S. and its neighboring countries. Canadian officials and premiers have been actively engaging with the Trump administration in an attempt to negotiate a resolution.

The announcement has led to fluctuations in the value of the Canadian dollar and Mexican peso, reflecting the uncertainty surrounding the trade policies. As the new deadline approaches, the focus will be on how Canada and Mexico respond to the U.S. demands and whether further delays or adjustments will be made.



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