The Fraser Institute estimates that Canadian families already pay 43% of their budget in taxes. Furthermore, our taxes are increasing this year with hikes that will cost taxpayers another $3.4 Billion annually!
Due to the challenges posed by high inflation and increasing taxes, Canadians have to prepare more diligently to manage their own finances effectively. To that point, there is no reason why investors shouldn’t take action now to reduce the taxes on their investments, retirement income and their estate.
Please call us to discuss how to take advantage of tax programs that are available as you save for retirement and seek to preserve your family’s standard of living and the value of your estate.
The following report from the Canadian Taxpayer’s Association provides information on tax changes for 2025:
https://www.taxpayer.com/media/new-years-tax-changes-ctf-2025.pdf
New Year’s Tax Changes 2025 New Year’s Tax Changes 6 The tax hike took effect on June 25, 2024, and will cost taxpayers $3.4 billion in 2025-26, according to the budget. www.taxpayer.com |
Please feel free to forward this newsletter to others you believe may benefit.
Your CommonWealth Team