Your Canadian financial guide to plan for 2025

LIVING
Your Canadian financial guide to plan for 2025

Planning your finances for 2025? We’re breaking down key financial changes, highlighted by CTV News, to help you make informed decisions. From tax brackets to retirement savings, here’s what you need to know to plan smarter this year.

1. Inflation-adjusted tax brackets
In 2025, tax brackets increase by 2.7% to help offset inflation.
💡 If your income hasn’t increased much, these adjustments can help reduce your overall tax bill, as more of your income will be taxed at lower rates.

2. Higher tax-free Basic Personal Amount (BPA)
The BPA will increase between $14,538 and $16,129 depending on your income.
💡  A higher BPA means more of your income is tax-free, leaving more in your pocket and reducing your overall tax burden.

3. Expect slightly higher CPP contributions
The Canada Pension Plan (CPP) contributions will continue to rise as part of a multi-year revamp. As of 2025, the first-tier ceiling will be indexed to wage growth, reaching $71,300 (up from $68,500 in 2024), and the second-tier ceiling will increase to $81,200 (up from $73,200 in 2024).
💡 If you’re earning more than $71,300 in 2025, you’ll notice slightly bigger deductions on your paycheck for CPP. It’s a small hit now, but it’s all about boosting your retirement benefits in the long run!

4. Changes to capital gains tax
Starting in 2025, gains over $250,000 will be taxed at two-thirds (instead of 50%).
💡 If you're selling assets with significant gains, consider spreading the sales across multiple years to minimize taxes.

5. Maximize Your RRSP Contributions for 2025
The RRSP contribution limit for 2025 increases to $32,490.
💡 Putting more into your RRSP not only helps you save for retirement but also reduces the amount of income you’re taxed on now. It's a win-win for your future and your wallet! You can find the amount of your unused contribution room on your CRA account.

CANADA EH?
Things to do around you

Located just a short drive from Calgary, Banff invites you to experience an immersive journey of light, sound, and wonder at the Banff Gondola. Explore the summit of Sulphur Mountain with four stunning wonders, including Cosmic Rays, Diamond Dust, Alpenglow, and Frosted Waves. November 16, 2024, to March 30, 2025.

Just 30 minutes from Vancouver, Burnaby celebrates the Japanese New Year with fun activities like Kakizome calligraphy, Japanese board games, and Hawaiian hula dance classes. Enjoy the Loose Leaf Tea Open House and more at the Nikkei National Museum on January 4, 2025.

Near Vancouver, celebrate  Winter Discovery Days at the Fraser River Discovery Centre with activities like creating a winter wish drawing, seasonal crafts, and hands-on challenges. December 21, 2024, to January 5, 2025.

Near Toronto, Halton Hills offers the Ignite the Night event at Terra Cotta Conservation Area with a 2-kilometre winter trail lit up for a magical night-time experience. Join the adventure on Saturday nights from January 4 to March 1, 2025.

In Toronto, skate under the stars at Nathan Phillips Square, where the water fountain transforms into a free outdoor ice rink. Open daily from November 30 to March 16, 2025, visitors of all ages can enjoy skating with rental options available.

Celebrate Canada's hockey tradition at the 2025 IIHF World Junior Championship Fan Fest in Ottawa at TD Place. From December 26 to January 5, enjoy family-friendly activities, watch parties, beer gardens, live music, and a synthetic ice rink.

TRAVEL
Three must-visit places in Canada for nature lovers

Canada is home to stunning landscapes that offer something for everyone, from serene coastal beauty to rugged mountain adventures. Here are three picks from Frontier Canada’s list.

🌄 Jasper National Park, Alberta
A UNESCO World Heritage Site, Jasper showcases the raw beauty of the Rockies. Beyond its breathtaking views, Jasper stands as a testament to resilience. After devastating wildfires in recent years, the park's ecosystems have begun a remarkable recovery. Experience the serene Athabasca Falls, the vast Columbia Icefield, and stargaze in one of the world’s largest dark sky preserves.

🐻 Klahoose Wilderness Resort, British Columbia
Located on the Sunshine Coast, Klahoose Wilderness Resort offers an exceptional blend of natural beauty and Indigenous culture. Discover the wild Toba Inlet, home to one of BC’s densest grizzly bear populations, with guided tours that explore both wildlife and Klahoose Nation traditions.

⛰️ Gros Morne National Park, Newfoundland and Labrador
A geologist’s paradise, Gros Morne’s ancient landscapes include fjords, mountains, and glacial valleys. Hike the Tablelands to walk on Earth's mantle or take a boat tour through the Western Brook Pond for breathtaking views of the cliffs.

A&E
It’s getting cold outside — here is some TV to cozy up to

As the weather grows chilly, you may be looking for some cozy indoor plans. It’s the perfect time to grab a blanket, make some hot cocoa, and settle into a great movie or show. Here are some picks from Yahoo News.

Catch these Netflix favourites before they’re gone

❤️ Clueless – Last day to watch: Jan. 8
🎤 Mamma Mia! and Mamma Mia! Here We Go Again – Last day to watch: Jan. 7🏆 Room – Last day to watch: Jan. 20

Here’s what’s coming soon on Netflix

✨ Wallace & Gromit: Vengeance Most Fowl (Jan. 3) brings inventive mischief and heartwarming laughs.
🔥 Season 2 of The Night Agent (Jan. 23) and The Recruit (Jan. 30) return with suspense and espionage.
🏞️ American Primeval (Jan. 9) dives into 1857 America with action-packed land disputes.

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