30 Oct 2015

As a new party is elected in Canada, there will be some tax changes and other financial changes coming our way within the next months. Here are some of what’s going to happen:

– Getting rid of income splitting for families
– On the Federal size, tax increases from 29% to 33% for income more than $200,000
– Alberta government sits at a 11% but we’re looking at combined rates for high income earners for up to 40% and 50% for the other Canadians

Incoming Splitting

– $2000 going down to your bottom line


– More availability to withdraw money (more flexibility with proposals and reasoning)


– Increase to $10,000 is rolling back to $5,500


– Old Age Security being deferred until you are 67
– Enhanced CPP benefits

Students Loans

– Allowing students not to pay interest or your loan until you are employed and earning $25,000