Understanding the different tax brackets in Canada is essential for effective financial planning and tax management. Canada’s tax system is progressive, meaning that higher income is taxed at higher rates. Here’s a breakdown of the federal and provincial tax brackets for 2024 and how they impact your finances. Federal Tax Read more…
The coming changes The federal government’s recent announcement about the capital gains inclusion rate hike has left many Canadians scrambling to understand the implications. Effective June 25, 2024, the inclusion rate for capital gains will increase from 50% to two-thirds. Here’s a detailed breakdown of what this means for you Read more…
The 2024 Canada Federal Budget brings several significant tax changes that will impact both businesses and individuals. Understanding these changes can help you make informed financial decisions for the year ahead. Changes in Corporate Tax Rates The federal government has introduced a lower tax rate for small businesses earning under Read more…
The federal government’s recent announcement about the capital gains inclusion rate hike has left many Canadians scrambling to understand the implications. Effective June 25, 2024, the inclusion rate for capital gains will increase from 50% to two-thirds. Here’s a detailed breakdown of what this means for you and how you Read more…
Steve Levack is here explaining Capital Gains Changes in Canada. Recent changes to Canada’s tax laws could significantly impact your investments. Understanding these changes is crucial for making informed financial decisions. What are Capital Gains? Capital gains are the profits you earn from selling assets such as stocks, real estate, Read more…