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%, effective July 1, 2025. This measure is expected to benefit approximately 22 million Canadians, with two-income households potentially saving up to $840 annually. The initiative is part of a […]
Underused Housing Tax (UHT)
What is the Underused Housing Tax? It is not safe to assume that the Underused Housing Tax may not apply to you just because you are a Canadian Citizen or a Permanent Resident. You may have to file UHT return to declare the exemption or face significant penalties for failure to file. If you are […]