The 2026 federal budget was tabled on April 1 with a focus on housing affordability, cost-of-living support, and fiscal restraint. Here are the changes that actually affect your personal finances.

Housing Measures

The government announced an extension of the 30-year amortization for first-time buyers on homes up to $1.5 million. Previously limited to new construction, this now applies to resale homes as well. This doesn't make homes cheaper — but it does lower monthly payments by roughly $200–$300 on a $500K mortgage compared to 25-year amortization.

The FHSA contribution limit remains at $8,000/year with a $40,000 lifetime cap. No changes were made to the Home Buyers' Plan RRSP withdrawal limit, which stays at $60,000.

Run the numbers for your situation: Mortgage Calculator | FHSA vs RRSP vs TFSA comparison

Tax Bracket Updates

Federal tax brackets were indexed by 2.7% for inflation — the lowest adjustment in three years (2025 was 4.7%, 2024 was 4.7%). The 2026 brackets:

• 15% on the first $57,375
• 20.5% on $57,375 to $114,750
• 26% on $114,750 to $158,468
• 29% on $158,468 to $220,000
• 33% on income over $220,000

The basic personal amount increased to $16,129. Check your exact combined federal/provincial rate with our income tax calculator.

Capital Gains: No Changes (For Now)

The 2/3 inclusion rate on capital gains above $250,000 — introduced in Budget 2024 — remains in effect. There were rumours of adjustments, but the budget confirmed the current structure stays. The first $250K in annual capital gains is still taxed at the 50% inclusion rate; amounts above are at 66.67%.

See our full breakdown: Capital Gains Tax 2026 Guide | Capital Gains Calculator

Benefit Increases

The Canada Child Benefit and GST/HST credit will be indexed by 2.7% for the July 2026 benefit year. Expected new maximums:

• CCB under 6: ~$7,998/year (up from $7,787)
• CCB 6–17: ~$6,747/year (up from $6,570)
• GST/HST single: ~$533/year (up from $519)

Check your eligibility: CCB Calculator | GST/HST Credit Calculator

TFSA and RRSP Limits

The TFSA limit stays at $7,000 for 2026 (confirmed in January). The RRSP deduction limit for 2026 is $32,490. No surprises here — both are indexed to CPI.

Check your TFSA room | Estimate your RRSP tax savings

What Didn't Change

Despite lobbying, there were no changes to:

• The principal residence exemption
• TFSA or RRSP contribution limits beyond inflation indexing
• The foreign buyer ban (still in effect until January 2027)
• Employment Insurance premium rates

Bottom Line

This was a steady-as-she-goes budget for personal finances. The biggest practical impact is the extended 30-year amortization for first-time buyers on resale homes. For everyone else, the main change is inflation indexing on brackets and benefits — modest but automatic.