Whats New in Tax 2025 Ed Rempel [Video]

Every year, tax rules change.

For 2025 there are six main tax changes that you’ll want to know about.

And there’s good news: two major uncertainties are finally gone!

1. No more reporting requirements for “bare trusts”—saving many Canadians unnecessary paperwork and fees.
2. The proposed capital gains tax hike? Likely off the table.

In my latest YouTube video, podcast episode, and blog post you’ll learn

New reporting requirements for trusts 

Capital gains inclusion 

For this year, there are few new changes. This may be because parliament has been shut down since September. The main changes I see are:

Charitable donations deadline – The deadline for making donations for the 2024 tax year was extended to February 28, 2025, given the disruption of the Canada Post strike.

Home Buyers’ Plan (HBP) withdrawal limit increased – The HBP withdrawal limit increased to $60,000 from $35,000for withdrawals made after April 16, 2024. The repayment is also deferred to start after 5 years, instead of after 3 …