If you're a business owner or corporation manager, this change means: You MUST log in to your CRA My Business Account to receive notices Missing messages could cost you — penalties, audits, or interest charges ? In this video, you’ll learn: How to access your CRA My Business Account step-by-step How to set up email notifications How to authorize your accountant What happens if you ignore this update ? Stay compliant. Avoid penalties. Know what CRA expects from YOU. Don’t wait — watch now and stay ahead. #CRA2025#CanadianBusiness#TaxesCanada#CRAUpdate#MyBusinessAccount#SmallBusinessCanada#DigitalFirstCRA
Hey Canadians! Major changes have just hit our tax system under Prime Minister Mark Carney, and they affect everyone—from business owners and investors to everyday taxpayers. This quick 2-minute breakdown covers the 6 key updates you need to know:
1. Income Tax Cut – First bracket drops from 15% to 14%
2. Capital Gains – Inclusion rate stays at 50%, not 66.7%
3. Bigger Exemption – Lifetime Capital Gains Exemption increased to $1.25M
4. No More Carbon Tax – Consumer carbon tax scrapped ?
5. Digital Services Tax – 3% tax on big tech, retroactive to 2022 - cancelled
6. GST Break on Rentals – GST waived on new rental builds until 2030
Whether you're filing taxes, selling a business, or investing—this matters.
Tax Write Off for Fitness Coaches in Canada "Are you a fitness coach in Canada? In this video, we break down the tax write-offs available to fitness professionals. Learn how to maximize your deductions, reduce your taxable income, and keep more of your earnings. From equipment expenses to business-related travel, discover the essential tax write-offs every fitness coach needs to know about in Canada.
2025 Tax Update: Tax Bracket Increases for Canadians Stay up-to-date with the latest Canadian tax changes! In this video, we dive into the 2025 tax update, covering the income tax bracket increases for Canadians. Learn what these changes mean for your tax planning and how to prepare for the upcoming year. Whether you're an individual taxpayer or a business owner, we’ve got you covered with everything you need to know about the 2025 Canadian tax rates and how they’ll affect your finances.
In this video, Bloom Accounting explains the new Home Flipping Tax in British Columbia (BC). We break down how this tax will impact real estate investors and homeowners across Canada, particularly in BC. Learn about the new regulations and how they might affect your property investments and flips.
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Are you curious about the upcoming GST temporary exemption in Canada? 🎥 In this video, we’ll break down everything you need to know about this important change, including:
✅ What the GST temporary exemption is all about
✅ Who qualifies for this exemption
✅ Key dates and timelines to remember
✅ How this exemption could impact your personal finances or business
Stay informed and make the most of this limited-time opportunity. Whether you're a business owner, a taxpayer, or just someone looking to understand the latest updates, we've got you covered! Don't forget to like, comment, and subscribe for more insights on Canada’s financial policies and how they affect YOU. #GSTExemptionCanada#CanadianTax#FinancialUpdates#TaxExemptions#CanadaNews
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Today, we're diving into an important topic that affects many Canadians – the new capital gains rules in Canada. Whether you're an investor, a homeowner, or simply curious about how these changes might impact you, stick around as we unpack what you need to know. First, let's quickly recap what capital gains are. In simple terms, a capital gain is the profit you make from selling an asset like stocks, bonds, or real estate for more than you paid for it. The government taxes these profits to generate revenue. But, the way these gains are taxed can change, and that's exactly what's happening now. Under the previous rules, 50% of your capital gains were included in your taxable income. For example, if you made a $10,000 profit on an investment, $5,000 of that would be taxed at your marginal tax rate. However, starting June 25, 2024 there's a new twist to these rules. The 2024 budget would increase the "inclusion rate" from one-half to two-thirds on capital gains above $250,000 for individuals. So in other words, for the first $250,000 in capital gains, an individual taxpayer would continue to pay tax on 50 per cent of the gain. For every dollar beyond $250,000, two-thirds would be taxable. If you found this video helpful, give it a thumbs up and don't forget to subscribe for more updates. If you have any questions or topics you'd like us to cover, leave a comment below. Thanks for watching, and see you next time!
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