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Weekly Market Snapshot: Records Everywhere as a Blowout Canadian Jobs Report Meets a Shock U.S. Loss

  August 8, 2026 A short, holiday-shortened week still managed to deliver record after record. The TSX, the S&P 500, the Nasdaq, and Europe's major indices all closed the week at or near all-time highs — even as Friday's jobs numbers told two very different stories on either side of the border. Here's everything that moved your money this week, and what to watch next. The Bottom Line The TSX capped its biggest weekly advance in about four months, closing Friday at a record 36,381.23 after Canada added a blowout 75,100 jobs in July (versus 17,800 expected). Wall Street also hit fresh records — but for the opposite reason: US employers unexpectedly cut 23,000 jobs, which markets read as reducing the odds of any further Fed rate hikes. Add in a fourth straight record close for European stocks, a wild swing in oil, and gold pushing toward US$4,400/oz, and it was a week where almost every major asset class ended up higher. 🇨🇦 Canada: TSX's Best Week Since April Canadia...
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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 Amount—what every Canadian can earn tax‑free—is set to rise again. This change provides broad tax relief, especially for low‑ and middle‑income earners.

4. Adjustments to Canada Pension Plan (CPP) Contributions

CPP contribution rates and maximum pensionable earnings will increase in 2026 as part of the multi‑year CPP enhancement plan. While workers and employers will pay slightly more, the long‑term goal is to provide stronger retirement benefits.

5. Changes to Various Tax Credits

Several federal credits—including those related to families, caregivers, and disability support—will be indexed or updated. These adjustments aim to maintain the value of benefits in the face of inflation and evolving economic conditions.

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