The Canada Revenue Agency (CRA) has released the 2026 federal income‑tax figures and these changes can affect your take‑home pay, retirement savings decisions, and long‑term wealth planning. What Will Change In 2026 The lowest federal income‑tax rate dropped to 14% for the full 2026 tax year (after a mid‑year reduction to 14.5% in 2025). The Basic Personal Amount (BPA) — the income each person can earn before paying federal tax — increased to $16,452 (for most taxpayers). Oth

Imagine a Manitoban earning $100,000 in 2025 with the following starting balances: FHSA: $5,000 RRSP: $20,000 RESP: $10,000 TFSA: $25,000 The Manitoba combined federal and provincial marginal tax rate on income over roughly $57,375 is about 33.25%. Now, let's get back some taxes... The Hack Registered Account Type 2025 Contribution Limit Base Scenario (No Action) Preferred Scenario (Using TFSA Withdrawals to Fund Contributions) Explanation TFSA $7,000 No withdrawals; balance

Canadians are saving less—and that’s a growing problem. Based on OECD figures, the national savings rate is projected to drop back to a mere 5% in Q4 2025. While this may seem like just a number, it paints a concerning picture of widespread financial vulnerability. Inflation, rising taxes, and escalating lifestyle costs are squeezing Canadians’ wallets, making it harder to build financial security and plan for the future. The Hard Truth: Inflation means everyday essentials—gr