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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: February 25, 2025

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

You don’t need to make any major changes, you just need to keep on the same track you have been following for the last six months. If you keep your ultimate goal in mind at all times this year it won’t be long before you reach it.

ARIES (March 21 - April 20):

Mercury’s influence in the most sensitive area of your chart means you need to put some time aside to think about your life and the direction it is heading. A little bit of serious thought now could lead to major and beneficial changes later on.

TAURUS (April 21 - May 21):

If someone shows you a new way of looking at the world and points out that recent negative events have actually had positive repercussions you would do well to take them seriously. That new way of looking could soon be the most important way.

GEMINI (May 22 - June 21):

Employers and other important people will encourage you to take on more responsibility at work but do you really want it? If you sense that those new opportunities are not the right ones for you then don’t be afraid to reject them. Be your own boss.

CANCER (June 22 - July 23):

You can and you must get out and about and get yourself noticed over the next few days. But don’t draw so much attention to yourself that it’s not only your rivals giving you envious glances. Make light of your newfound popularity.

LEO (July 24 - Aug. 23):

Financial matters will become more important between now and Friday’s new moon and it is of the utmost importance that you resist the urge to go on a spree. Today’s Mercury-Saturn link warns there could be unexpected bills to pay.

VIRGO (Aug. 24 - Sept. 23):

The more of an effort you make to be nice to people today the more of an effort they will make to meet you halfway. If you get the chance to do a good deed for a friend or neighbor your kindness will ripple out across the universe.

LIBRA (Sept. 24 - Oct. 23):

It may be tempting to burn the candle at both ends but if you do your energy levels will drop dramatically. It is essential that you reward yourself with plenty of down time between now and the weekend. What have you done to deserve it? Just being you!

SCORPIO (Oct. 24 - Nov. 22):

Cosmic activity in the most dynamic area of your chart is coming to a head and the next few days could be truly special. If you get started on a project you have been planning for ages you will amaze yourself by how much progress you make.

SAGITTARIUS (Nov. 23 - Dec. 21):

Don’t get angry if friends and family members make the kind of decisions you think are stupid at best and dangerous at worst. If they insist on following potentially harmful strategies then all you can do is stay out of the way!

CAPRICORN (Dec. 22 - Jan. 20):

By all means blow your own trumpet and let the world know who you are and what you can do but don’t blow so hard that you deafen people. Speak softly and carry yourself with an air of confidence and competence. You’ll get noticed all right.

AQUARIUS (Jan. 21 - Feb. 19):

A money-making idea will take up a large slice of your time and energy over the next few days but don’t go at it in such a rush that it soon becomes impossible to maintain that pace. Small steps will take you where you need to go.

PISCES (Feb. 20 - Mar. 20):

There may be no stopping you at the moment but you need to be aware that you are not the only go-getter on the block. What starts out as a friendly rivalry could soon become an all-out conflict. Why not join forces and make an unbeatable team?

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