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June Newsletter

 

June has continued with mixed results across the various indexes. The S&P 500 in New York ended the month down 1%, trimming it's 2026 gains to 9.55%. The NASDAQ also closed down for the month, at a loss of 2.8%, however it ended the quarter up 26% for it's best quarter since 2020. Year to date gains on the index are 12.79%. In Toronto, the TSX was up by half a percent, increasing the 2026 gains to just over 11%.


Oil prices have continued to trend lower in June, as the ceasefire in Iran appears to have calmed the markets, and brought oil prices back down to approximately where they were in February, prior to the war breaking out. The price at the pump for gas has not fallen all the way yet, but should soon. The high gasoline and energy prices did help keep inflation higher at just over 3% for the month of May in Canada. This should also cool, as energy prices continue to fall.


Anyone travelling outside of Canada this summer has certainly seen the price of the Canadian dollar fall over the past month, relative to other currencies. The USD has certainly strengthened, as the possibility of higher interest rates for longer, has increased after the latest announcement from the Federal Reserve. Hopefully things ease off for the snowbirds travelling south later this fall.


Have a safe and happy Canada Day!



RRSP Beneficiaries

Taxes on RRSP/RRIF income is unavidable. However with careful planning, you can reduce the rate of tax that you would pay on the income you receive from the account. This article highlights a common error that spouses make on their RRSP/RRIF accounts, when trying to leave money to their adult children.

Turning 65 in 2026?

Age 65 in Canada this year is about more than just starting CPP and OAS payments. There is a number of tax credits and pension benefits to be aware of for 2026 income tax year. This article highlights some of the ones to look out for and some of the changes that are beneficial to you.

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