Category: Taxation

On April 16, 2024, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, tabled the Federal 2024 Budget to the House of Commons in Ottawa. There were a number of tax measures that were newly introduced or affirmed from previous announcements. A more detailed breakdown of the Budget changes is available to be Read more

Since April 1, 2023, qualifying individuals may be able to contribute to this type of registered plan up to a maximum of $40,000 (lifetime limit) to permit making deductible contributions for the purpose of using the funds for the purchase of a qualifying home. You can read more about this on the CRA website here. Read more

The CRA has confirmed that the Tax-Free Savings Account (TFSA) limit for 2024 will be $7,000, up from $6,500 in 2023. The TFSA contributions can be made January 1, 2024 onward. The 2024 Registered Retirement Savings Plan (RRSP) limit will be the lower of $31,560 or 18% of earned income. Read more

Thank you for coming to my website. I’m very proud to be working in public practice as a Chartered Professional Accountant in Edmonton, and over the coming posts I will share insights, tips, traps, and other items that might help you or someone that you know near to you. Thank you to all who have Read more