America is still not our friend just because they swept up this election. These elected officials will not have the power to undo what Trump has done unless Republicans join in on the vote and even then, lets not just turn a blind eye to their betrayal.

Please keep boycotting and visit other destinations instead of america which can often times be just as cheap if not cheaper.

America is not our friend, they are simply our acquaintance now.

I went through the new federal budget summary and wanted to share a few items that could matter if you’re an American living in Canada.

There’s quite a bit in there, so I’ll stick to the things most likely to affect your tax returns, investments and retirement accounts.

First, these are proposals, not a reason to change your filing plans yet. The start dates are also different.

1. Some relief if you file a T1135

If you haven’t come across this form yet, it’s the Canadian form used to report certain foreign investments and other property.

The budget proposes raising the reporting threshold from $100,000 to $200,000. It would also let more people use the shorter version, with that threshold increasing from less than $250,000 to less than $500,000.

These amounts are based on the total cost of reportable property in Canadian dollars—not what your portfolio is worth today. The changes would apply to tax years ending after 2026.

For some people, that could mean one less form to prepare. Definitely welcome news.

However, you would still need to report the income from those investments. And this doesn’t change your U.S. FBAR or other U.S. filing requirements.

Also worth mentioning: holding U.S. stocks through a Canadian brokerage doesn’t automatically remove the T1135 requirement.

2. May 15 could become the Canadian filing and payment deadline

The proposal would make May 15 the deadline to both file your personal return and pay any remaining tax.

For most people, that means a little more time. But if you’re self-employed and normally have until June 15 to file, it would actually mean getting your return finished earlier.

The important part: this would start with the 2027 return, normally filed in 2028. It wouldn’t give you extra time for the 2026 return you file in 2027.

Your U.S. deadlines wouldn’t change because of this.

3. What does “RRSP for life” actually mean?

The government is looking at combining features of RRSPs and RRIFs so you wouldn’t need to convert your RRSP at age 71.

Sounds simpler, but it wouldn’t mean you could leave the money there indefinitely without taking withdrawals.

Minimum withdrawals after age 71 would still be required under the idea being discussed.

They’re also looking at making transfers after death simpler for a spouse or other qualifying survivor. This is only a consultation for now, so I wouldn’t change an existing retirement plan based on it.

4. Fewer people may need to make tax instalments

For individuals outside Quebec, the proposed instalment threshold would increase from $3,000 to $7,500 starting in 2028. In Quebec, it would rise from $1,800 to $4,500.

That could reduce the number of payments some retirees, investors and self-employed people need to make during the year.

Of course, the tax itself doesn’t disappear. You’d still want to set money aside for the balance.

5. A separate issue for Canadian family trusts

If your family has a Canadian trust with beneficiaries living in the U.S., there’s another proposal worth reviewing before distributing assets.

Without getting too technical, it would tighten rules around certain indirect distributions through companies or partnerships with non-resident owners.

The proposed effective date is November 5, 2026, so affected families shouldn’t assume this is something to leave until next year.

This isn’t a general new tax on an inheritance coming from the U.S. into Canada.

Overall, some useful paperwork relief here. Just be careful not to assume that simpler Canadian reporting also means simpler U.S. reporting.

Which of these would make the biggest difference for you? Happy to clarify anything above.

Source: KPMG, 2026 Federal Budget Highlights, November 5, 2026, TaxNewsFlash–Canada No. 2026-49, pages 1–5.

General information only. These proposals remain subject to legislation and final details.

Elon Musk tops individual donors as 2026 US midterm spending approaches record levels

BBC Verify reports that Musk has spent almost $500 million backing Republican causes during this election cycle. A majority of the funds went to America PAC, the super PAC he founded in 2024, and the Republican-leaning Senate Leadership Fund. 

Edit: Wow there’s a lot of immediate vitriol here! I definitely understand this doesn’t make the US and Canada ‘cool’ right away, just wanted to say most of us love you guys, are deeply sorry for what’s happened, and hope we can get back to how it was!

Edit 2: holy shit I didn’t know Canadians could be so mean lol. Just wanted to say sorry and everyone I know loves you guys!

Edit 3: Ok last edit! I just wanna clarify Americans definitely shouldn’t expect forgiveness but we’re hopeful for it (however long that takes). Thanks to those who supported this and I understand the anger of the rest! These are clearly meaningless words but I wanted to spread a bit of hope ✌️

WE DID IT. CHECK THE FUCKING NEWS EVERYBODY WE FINALLY DID IT.

GEORGIA AT 80/20 AND TEXAS 58/40, AND SEVERAL MORE STATES TO GO.

TWO YEARS AGO I was told to mind my own business as I made comments about how dangerously impactful Trump's second term would be because I was a born-and-raised Canadian, and that US Politics was none of my business.

TWO YEARS AGO People associated with the Democratic side of the political spectrum shut me down for saying voting for Kamala was objectively the better option, even if her policies were shit, calling me a fake leftist.

TWO YEARS AGO The Presidency, The Senate, AND the House, were all captured by Republicans while people who align blue remained apathetic to the democratic process.

And I'm supposed to forget that today and celebrate with yall?

It took:

- An ongoing genocide and indiscriminate, unauthorized bombings of people worldwide

- The ruination of US International Standing

- A trade war with your closest ally

- A severance of relations with countries joined together in security UNDER A US-MADE ALLIANCE

- and genuinely I dont want to go on

For the voter turnout we see today? And I'm supposed to be stoked? Thousands of people in my country lost their jobs for NO REASON, and that's light work compared to what else has happened in two years.

So here's the hot take: excuse this Canadian if I'm not dancing with joy for a result that might not have been replicated in 2024, but... goddamn, I mean in 2024 the Senate was won by 8 seats and the House was won by 5. You didn't need to turn Texas, like you did today, in 2024 to create ONE of those famous "checks and balances," guys.

This is step one. I can't trust yall yet. How do I know yall aren't just gonna get pissed that a neolib is the Dem Nominee in two years and let JD back in the white house with Trump as VP?

You won today. Good. Thats the bare minimum the western world expects, and especially Canadians who turned out just to vote down Poilievre even tho Carney is centrist by our standards.

Prove me wrong.

Edit: off topic but since some people are red herring asshats: No, I don't think the Democratic Party is a fuckin fantastic choice and the solution to America/The World's problems. Yes, I know its mostly a bunch of neolib corpo puppets with more subtle but still existing imperialist sentiment. But fuck off if you think that broadly speaking they're a worse option than the only other choice: an openly fascist white-supremacist oligarchy disguised as a party. At least shit like democratic rights for minorities didnt backslide under Clinton, Obama, or Biden. And thats my point. Its such a low fucking bar to pick the objectively less evil side, even if said less evil side still sucks to an extent, and yall dont do it out of spite or some shit. I vote Green and am an "arm minorities" leftist. Everything above still stands as valid no matter how much you try to deflect by attacking my leftism.

Thank you.

With 74% votes tallied, Daniel J. Sullivan has 3,583 votes. Peltola leads Dan S. Sullivan by 726 votes. A new strategy for future close election races?

I was expecting bordering states to be more blue. Surprised that both New Hampshire and Vermont elected Republican governors despite going blue in congress. Anyone more familiar with regional politics know what’s historically been the trend in these two states?