Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
Tax season is upon us, and staying informed can make the process smoother and less stressful. Here are some essential updates and tips for the 2025 tax-filing season:
- Important Deadlines:
- The deadline for most individuals to file and pay taxes is April 30, 2025.
- Self-employed individuals have until June 16, 2025, to file, but any taxes owed must still be paid by April 30 to avoid interest.
- New Changes:
- Federal income tax brackets have been adjusted to account for inflation, with rates ranging from 15% for earnings up to $57,375 to 33% for earnings above $253,414. The contribution limit for Registered Retirement Savings Plans (RRSPs) has increased to $32,490.
- The Tax-Free Savings Account (TFSA) contribution room remains at $7,000 for 2025.
- Digital Services Enhancements:
- The Canada Revenue Agency (CRA) now offers a document verification service for quicker access to online accounts.
- A live chat feature is available in the CRA's "My Account" portal for personalized assistance.
- Filing Tips:
- File early to avoid last-minute stress and ensure quicker refunds.
- Double-check all tax slips and receipts to claim every eligible credit and deduction.
- Consider seeking help from free tax clinics if you have a modest income and a simple tax situation.
By staying organized and informed, you can make the most of this tax season and potentially maximize your refund.
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