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TSX Rebounds as Oil Climbs and Canada’s Jobs Data Lands

  Friday, May 8, 2026  ·  Canadian Money Brief  ·  moneysavings.ca TSX Opens Higher After Thursday Dip Canadian stocks are staging a recovery Friday morning, with the S&P/TSX Composite climbing back after a rough Thursday. The index shed 0.4% to close at 33,857 as investors locked in recent gains ahead of U.S. and Canadian jobs data due Friday — with energy shares dragging it lower as oil pulled back. As of Friday morning, the TSX had recovered to around 33,932, up roughly 1.1% , following positive cues from Wall Street futures. Oil Back in Focus: Geopolitics Drive WTI Toward $96 WTI crude futures climbed toward $96 per barrel on Friday , recouping some of the week’s losses as fresh clashes between the U.S. and Iran threatened to derail diplomatic efforts to end the conflict. U.S. Central Command confirmed American forces intercepted Iranian attacks and carried out defensive strikes, while guided missile destroyers passed through the Strait of Ho...
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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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