March 2025
Hello everyone,
It's off to a flying start: tax season has officially begun!
There's no getting away from it: March and April are synonymous with tax slips and T4s...
Several changes have been made this year, including the following:
- Capital gains;
- Withdrawal of the Home Buyers' Plan (HBP);
- Short-term rental income;
- Alternative minimum tax;
- Canada Pension Plan (CPP);
- Quebec Pension Plan (QPP);
- Basic personal amount and tax brackets.
The Canada Revenue Agency (CRA) has also launched an
online chat pilot project, enabling users to discuss their particular situation.
Another new feature is the document verification service. It's a secure way to validate your identity and gives you immediate access to your file.
There are also
changes in Quebec, such as the declaration of crypto assets and the tax credit for home support for seniors, which has been increased.
The deadlines for filing tax returns and paying amounts due are April 30 and June 16 (the 15th being a Sunday) for self-employed workers.
Finally, for the curious, this
online tool gives you an idea of the taxes you'll have to pay based on your income (and how you compare with other Canadians!).
See you soon!
Francis, Michael, Hossein, Jean-Marc, Kristopher and Stéphane
A book to help you prepare for tax season (in French only)
Image credit: CPAThere is such a thing as a practical guide to help you get through tax season with greater peace of mind. The Ordre des comptables professionnels agréés (CPA) launches the 2024 edition of "Réduisez vos impôts".
Read more
9 alternative destinations to the U.S. for travelling with the canadian dollar 
Image credit: Pexels, PixabayDiscover 9 alternative destinations in Canada and Mexico to replace your trips to the USA: Riviera Maya, Canadian Rockies, Tofino and more. Similar experiences, better prices!
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