Category: Financial Planning

Update on the Canada Revenue Agency’s administration of the proposed capital gains taxation changes

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https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2025/update-cra-administration-proposed-capital-gains-taxation-changes.html January 31, 2025 Ottawa, Ontario Canada Revenue Agency The Department of Finance announced today that it will introduce legislation in Parliament in due course, related to the capital gains inclusion rate change with a new effective date of January 1, 2026. The announcement confirms the government’s intention that, effective for dispositions that occur on or after January 1, 2026, the inclusion rate Read more about Update on the Canada Revenue Agency’s administration of the proposed capital gains taxation changes[…]

7 ways to improve your credit score

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https://www.cibc.com/en/personal-banking/smart-advice/borrowing-and-credit/7-ways-to-improve-credit-score.html Boosting your credit score can feel like an uphill grind, but it doesn’t have to be. Whether you’re just starting a credit history or are rebuilding after your scores have taken a hit, it’s important to get acquainted with some of the basic ways to improve them. Get started on these 7 strategies to improve Read more about 7 ways to improve your credit score[…]

Tax-Free First Home Savings Account (FHSA)

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https://www.canada.ca/en/department-finance/news/2022/08/design-of-the-tax-free-first-home-savings-account.html In Budget 2022, the government proposed the introduction of the Tax-Free First Home Savings Account (FHSA). This new registered plan would give prospective first-time home buyers the ability to save $40,000 on a tax-free basis. Like a Registered Retirement Savings Plan (RRSP), contributions would be tax-deductible, and withdrawals to purchase a first home—including from Read more about Tax-Free First Home Savings Account (FHSA)[…]