Canadian wealth and financial planning briefing

Happy Thanksgiving. Canadian markets are closed today, so this is a good week to catch up on three developments from the past few weeks. Information as of Monday, October 12, 2026.

Market in 60 seconds

• Jobs. Canada lost 68,000 jobs in September, the second monthly decline in a row. The unemployment rate rose to 6.5% from 6.4%. The losses were concentrated among workers aged 15 to 24 and women aged 25 to 54. Ontario's rate was 7.0%.
• Stocks. The S&P/TSX Composite closed Friday at 35,664.62, up 1.5% on the day.
• Oil. Brent crude traded around US$105 a barrel on Friday, roughly US$40 above a year ago, as concerns about Middle East supply continued. Higher fuel costs are showing up in inflation data, which matters for the Bank of Canada (see the calendar below).

Planning point of the week: the proposed Productivity Mega Deduction

On September 15, the federal government announced a proposal to expand immediate expensing, which lets a business deduct the cost of certain new assets right away instead of over many years. As reported, it would raise the share of capital assets eligible for immediate expensing from roughly 15% to about 65%, would be permanent, and would apply to property acquired on or after September 15, 2026.

Reported examples of eligible assets include computer equipment, software, vehicles and certain industrial property. Buildings are generally excluded. Some details differ between published summaries, and the final rules will depend on legislation that has not yet been introduced. It is also not yet clear whether provinces will follow the federal approach.

If you own a business and are considering a significant equipment or technology purchase, this is worth raising with your accountant before you commit. A tax deduction is a reason to time a purchase well, not a reason to make one the business doesn't need.

On the calendar

• Today: Thanksgiving. Canadian markets are closed.
• Monday, October 19: Statistics Canada releases September inflation data.
• Wednesday, October 28: Bank of Canada interest rate decision and Monetary Policy Report.

Sources: Statistics Canada, Labour Force Survey, September 2026; TMX Money; Osler, Hoskin & Harcourt LLP on the Productivity Mega Deduction announcement.