Middle-Class Personal Tax Cut Effective July 1, 2025
The federal lowest income tax rate is cut from 15% to 14%, affecting taxable income up to C$57,375 . For 2025, mid-year implementation brings an effective
Potential Tax Changes
Federal Tax Changes 1. Middle-Class Income Tax Cut The federal government is implementing a reduction in the lowest personal income tax rate from 15% to 14%,
Post-election changes to your taxes:
With Mark Carney and the Liberals returning to power, tax policy is set to remain a top priority. Promises are aimed at easing the cost of
Be careful when claiming moving expenses
CRA wins case against remote worker who claimed $67,000 in moving expenses This case revolves around an Ontario taxpayer who, in her 2021 tax return, claimed
Increased TFSA Contributions
In 2024, Canadians achieved a new milestone in their Tax-Free Savings Accounts (TFSAs), with average balances reaching an all-time high of $44,987. This represents an 8%
Capital Gains Tax Changes
The Canadian government has postponed the implementation of proposed changes to the capital gains tax until January 1, 2026. Initially introduced in April 2024, these changes