Donation Deadline Draws Near

There is still time to give and save money: mark your calendar for February 28.  That is the deadline date to make cash, cheque, money order donations  to your favorite charity and claim the deduction on your 2024 tax return.

Now is the time to explore your exclusive Black Friday tuition offers: save 30% until November 30. Only $695 per certificate course. Explore a new pathway to specialized credentials or train your team at these tuition rates:

Did you know that the CE Savvy Summit: 2025 Advanced T1 Personal Tax Update is coming to a city near year this January? All the updated knowledge and resources a tax or financial professional needs, including expert instruction on 2024 T1 Completion and Tax Planning for 2025. Register by January 10 early-bird deadline for tuition savings and take advantage of new team member rates to prepare your staff for the upcoming tax season.

Canada’s only multi-disciplinary conference for tax accounting and financial advisors wound up on Montreal on November 12; but the memories of an outstanding CE learning and networking event are guaranteed to linger.  Check out the photos here then take advantage of early registration offers for the next event: Acuity 2025, November 23-26, 2025 in Puerto Vallarta, Mexico.  The theme is Happy Landings:   Discover a New Era of Risk and Rewards! 

Owning a home, once almost considered a right of Canadian citizenship, has become a more distant dream for millions. The high cost of housing, coupled with a desperate shortage of supply, has turned the notion of home ownership into a near impossibility for many Canadians and those who have arrived in our country more recently.  The Tax-Free First Home Savings Account (FHSA) can help but it’s important to open an account before December 31, 2024 to create and preserve the contribution room.

CRA has confirmed the indexing rate of 2.7% for 2025 on various income tested provisions and including personal amounts applied to reduce taxes payable.  This also applies to ALDAs, which provide a unique additional way to defer income from taxation in the case of healthy, affluent seniors.  Here’s what’s to know:

The federal government has confirmed its final numbers to reflect the 2.7% indexing rate to be applied to personal amounts in 2025.  Knowledge Bureau published the amounts several weeks ago, and was within a dollar on most estimations.  Here are the final numbers for year-end tax planning purposes: