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Latest News
- Tax Tips for Filing Your 2024 Income Tax ReturnMarch 31, 2025 - 6:09 am
- Bank of Canada Announces Interest Rate Cut Amid Economic UncertaintyMarch 12, 2025 - 1:38 pm
- 2025 Canadian Controlled Private Corporation Tax RatesMarch 5, 2025 - 2:19 pm
About
As one of the largest providers of benefit consulting and administration services to Southern Ontario for more than a decade, we help you to take advantage of our flexible solutions to develop pension, health and group benefit strategies.
Empowering Your Family’s Financial Future: A Comprehensive Guide to Budgeting
/in Blog, Debt, disability, disability insurance, Family, financial advice, Financial Planning, individuals, Insurance, rdsp/by Horizon FinancialSecure your family’s financial future with effective budgeting. Learn how to gain financial clarity, achieve your goals, and prepare for emergencies in our comprehensive guide.
Ontario’s 2024 Budget Highlights
/in 2024, Blog, Ontario Only, tax/by Horizon FinancialOntario’s 2024 Budget keeps personal & corporate tax rates steady, extends gas tax cuts, and revises the OCASE Tax Credit. Discover how these changes affect you!
The Value of Tailored Group Benefits
/in Blog, business owners, Group Benefits, health benefits/by Horizon FinancialCustom group benefits are pivotal in shaping a prosperous future for organizations. By celebrating diversity and prioritizing employee well-being, we foster a healthier, more dynamic workforce.
TFSA vs RRSP – 2024
/in 2024, Blog, business owners, Estate Planning, Family, financial advice, Financial Planning, individuals, Investment, personal finances, Professionals, retirement, 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 $31,560. 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.
2024 Financial Calendar
/in 2024, Blog, business owners, financial advice, Financial Planning, individuals, personal finances, Professional Corporations, Professionals, Retirees, tax/by Horizon FinancialStay ahead in 2024 with our comprehensive financial calendar! From tax filing to benefit distributions, we guide you through key dates like the $7,000 TFSA contribution and $8,000 First Home Savings Account. Bookmark now for a financially savvy year!