Get ahead of tax season! Discover what’s new for 2024—from increased CPP contributions and Home Buyers’ Plan changes to key deductions and credits. Maximize your refund and avoid costly mistakes.
https://horizonfinancial.ca/wp-content/uploads/2025/03/Tax-Tips-for-Filing-Your-2024-Income-Tax-Return.png300500Horizon Financialhttps://horizonfinancial.ca/wp-content/uploads/2019/12/horizonEnfold2.jpgHorizon Financial2025-03-31 06:09:032025-03-31 06:09:08Tax Tips for Filing Your 2024 Income Tax Return
The Bank of Canada has cut interest rates to 2.75%, reflecting ongoing economic challenges and trade uncertainties.
Market volatility is normal, but staying disciplined and diversified helps manage risk over the long term.
If you have questions or concerns, please reach out—we’re here to help.
#BankOfCanada #InterestRates #MarketVolatility #FinancialWellbeing
Stay updated on 2024-2025 Canadian corporate tax rates for CCPCs. Small business rates start at 9%, active business varies, and investment income is 38.7%.
2025 Canada Money Facts – Get the latest TFSA, RRSP, FHSA, CPP, OAS, and RESP limits. Stay informed on savings, pensions, and benefits for the year ahead!
When looking to save money in a tax-efficient manner, Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) can offer significant tax benefits. The main difference between the two is that TFSAs are ideal for short-term goals, such as saving for a down payment on a house or a vacation, as its growth is entirely tax-free, while RRSPs are more suitable for long-term goals such as retirement. When comparing deposit differences, TFSAs have a limit of $7,000 for the current year, while RRSPs have a limit of 18% of your pre-tax income from the previous year, with a maximum limit of $32,490. In terms of withdrawals, TFSAs have no conversion requirements and withdrawals are tax-free, while RRSPs must be converted to a Registered Retirement Income Fund (RRIF) at age 71 and withdrawals are taxed as income.
Tax Tips for Filing Your 2024 Income Tax Return
/in 2025, Blog, financial advice, incorporated professionals, individuals, Investment, pension plan, personal finances, Professionals, tax/by Horizon FinancialGet ahead of tax season! Discover what’s new for 2024—from increased CPP contributions and Home Buyers’ Plan changes to key deductions and credits. Maximize your refund and avoid costly mistakes.
Bank of Canada Announces Interest Rate Cut Amid Economic Uncertainty
/in 2025, Blog, Government Budget, Investment, tax/by Horizon FinancialThe Bank of Canada has cut interest rates to 2.75%, reflecting ongoing economic challenges and trade uncertainties.
Market volatility is normal, but staying disciplined and diversified helps manage risk over the long term.
If you have questions or concerns, please reach out—we’re here to help.
#BankOfCanada #InterestRates #MarketVolatility #FinancialWellbeing
2025 Canadian Controlled Private Corporation Tax Rates
/in 2025, Blog, tax/by Horizon FinancialStay updated on 2024-2025 Canadian corporate tax rates for CCPCs. Small business rates start at 9%, active business varies, and investment income is 38.7%.
2025 Canada Money Facts
/in 2025, Blog, tax/by Horizon Financial2025 Canada Money Facts – Get the latest TFSA, RRSP, FHSA, CPP, OAS, and RESP limits. Stay informed on savings, pensions, and benefits for the year ahead!
TFSA vs RRSP 2025
/in Blog, Investment, rrsp, Tax Free Savings Account/by Horizon FinancialWhen looking to save money in a tax-efficient manner, Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) can offer significant tax benefits. The main difference between the two is that TFSAs are ideal for short-term goals, such as saving for a down payment on a house or a vacation, as its growth is entirely tax-free, while RRSPs are more suitable for long-term goals such as retirement. When comparing deposit differences, TFSAs have a limit of $7,000 for the current year, while RRSPs have a limit of 18% of your pre-tax income from the previous year, with a maximum limit of $32,490. In terms of withdrawals, TFSAs have no conversion requirements and withdrawals are tax-free, while RRSPs must be converted to a Registered Retirement Income Fund (RRIF) at age 71 and withdrawals are taxed as income.