Some Advice from Someone Who Lived It… I am sharing my experience with you in hopes to provide some advice, some items to think about and the issues that arose that might not have crossed your mind. December 9, 2024. Monday. I woke up like every Monday morning, a busy week ahead heading into the…
Every year, before heading into the Holiday season, the Canada Revenue Agency provides important information for what is in store for 2025 on tax brackets, RRSP and TFSA limits and changes to the prescribed interest rate. Here is a quick summary of what to expect in 2025. Tax brackets for 2025 For 2025, all five…
Budget 2024 was an interesting one and it made June 25th very interesting for taxpayers. June 25th is the day when how Capital Gains are taxed in Canada. What does it mean to you? I thought I would share some thoughts to help clear up the noise in the system. A Capital Gain is created…
Late last week, the Federal Government passed Bill C-208 which changed the Income Tax Act of Canada is a positive way for small business owners. It allows small business owners easier access to the Lifetime Capital Gains Exemption on the sale of their shares to the next generation. In the past, for a small business…