The 2024 tax season may be months away, but it’s never too early to start planning for your 2025 earnings. Revenu Québec and the Canada Revenue Agency (CRA) have recently announced the income tax brackets for 2025, giving Quebec residents a clearer picture of how much income tax they’ll owe in the upcoming year. Understanding Continue reading
Emily Houston
Average TFSA Balance for Canadians at Age 64
Did you know that the average Tax-Free Savings Account (TFSA) balance for Canadians aged 64 is around $150,000? This figure comes from a 2023 study by the Canadian Institute of Chartered Accountants (CICA). While $150,000 may not be enough to fund a retirement on its own, it can significantly boost your overall income by complementing Continue reading
Verizon Class-Action Settlement Update 2024: Payouts, Details, and What You Need to Know
In 2024, Verizon Wireless resolved a class-action lawsuit with a $100 million settlement. The lawsuit accused Verizon of deceptive advertising practices, specifically for failing to disclose additional fees—such as administrative charges—that made the actual costs of plans higher than advertised. This led customers to select plans under the impression that they were cheaper than they Continue reading
2025 CRA Updates: New Tax Brackets, CPP, RRSP, and TFSA Contribution Limits
Each year, most income tax and benefit amounts in Canada are indexed to inflation. For 2025, the Canada Revenue Agency (CRA) has announced an inflation adjustment factor of 2.7%. This is a significant decrease compared to last year’s 4.7%, reflecting the lower rate of inflation. These inflation adjustments apply to various tax brackets, contributions, and Continue reading
Canada to Boost GST/HST Credit in 2025 — Find Out How Much You Could Receive
Good news, Canada! The GST/HST Credit is getting a boost in 2025, providing more cash in your pocket to help offset rising costs. If you rely on this important government payment to assist with day-to-day expenses, you’ll want to know how these changes could benefit you. What is the GST/HST Credit? The GST/HST Credit is Continue reading
Calgary Housing Prices Projected to Rise by the End of 2025
Calgary’s real estate market is expected to see continued price growth in 2025, with a forecasted increase of 4% in the aggregated home price, reaching $728,104 by the fourth quarter of the year, up from an estimated $700,100 in 2024. This forecast comes from Royal LePage’s 2025 Market Survey, offering insight into the city’s housing Continue reading
Canada Grocery Rebate 2025: Everything You Need to Know
The rising cost of living has made managing household expenses a pressing concern for many Canadians. To provide relief, the Government of Canada has introduced the Canada Grocery Rebate 2025. This initiative aims to ease the financial strain for eligible households, ensuring that nutritious food remains accessible. Here’s a comprehensive guide to help you understand Continue reading
Canada Veteran Disability Benefits 2024: Eligibility, Payment Amounts, & Application Process
Canada’s Veteran Disability Benefits program is designed to provide financial support to veterans who have experienced injury or illness as a result of their service in the Canadian Armed Forces. These benefits help veterans cope with the physical, emotional, and financial challenges brought on by service-related disabilities. In this 2024 update, we’ll cover the eligibility Continue reading
Next GST Payment 2024-2025: Amount, Payment Dates, and Eligibility
The Goods and Services Tax (GST) credit is a tax-free quarterly benefit provided to low- and middle-income Canadians to offset the GST/HST they pay on goods and services. The GST credit plays a vital role in helping Canadians manage their expenses. With the next set of payments approaching, here’s a detailed look at the GST Continue reading
Canada to Waive GST & HST on Various Items — Here’s What You Should Know
If You’ve Been Feeling the Pinch at the Checkout, There’s Some Good News Coming Your Way This holiday season, the federal government is giving Canadians an early gift by offering significant tax relief. On Thursday, the government announced that starting in December, it will waive the Goods and Services Tax (GST) and Harmonized Sales Tax Continue reading