Story perspectives

2025 Tax Changes: New Rates and Savings Unveiled

1/2/2025

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Summary

Story summary

Federal tax brackets will adjust in 2025, with rates between 15% and 33% based on income.
Capital gains tax will increase the inclusion rate to 66.7% for gains exceeding $250,000.
RRSP contribution limits will rise to $32,490; CPP contributions will reach a maximum of $4,034.10.
A temporary GST tax holiday will save taxpayers around $1.5 billion until February 15, 2025.
Overall, the tax landscape will see minor changes focused on inflation adjustments.

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Story summary

Federal tax brackets will adjust in 2025, with rates between 15% and 33% based on income.
Capital gains tax will increase the inclusion rate to 66.7% for gains exceeding $250,000.
RRSP contribution limits will rise to $32,490; CPP contributions will reach a maximum of $4,034.10.
A temporary GST tax holiday will save taxpayers around $1.5 billion until February 15, 2025.
Overall, the tax landscape will see minor changes focused on inflation adjustments.