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    Stay Ahead in 2024: A Comprehensive Checklist for Federal Tax Updates

    April 22, 2024
    Explore the upcoming 2024 Canadian tax changes affecting investors, business owners, and high-net-worth individuals. From capital gains adjustments to new incentives, stay informed with our comprehensive checklist.
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    2024 Federal Budget Highlights

    April 18, 2024
    On April 16, 2024, Canada's Deputy Prime Minister and Finance Minister, Chrystia Freeland, presented the federal budget. While there are no changes to federal personal or corporate tax rates, the budget introduces: • An increase in the portion of capital gains subject to tax, rising from 50% to 66.67%, starting June 25, 2024. However, individual gains up to $250,000 annually will retain the 50% rate. • The lifetime exemption limit for capital gains has been raised to $1.25 million. Additionally, a new one-third inclusion rate is set for up to $2 million in capital gains for entrepreneurs. • The budget confirms the alternative minimum tax changes planned for January 1, 2024 but lessens their impact on charitable contributions. • This year's budget emphasizes making housing more affordable. It provides incentives for building rental properties specifically designed for long-term tenants. • Introduces new support measures to aid people buying their first homes. • Costs for specific patents and tech equipment and software can now be written off immediately. • Canada carbon rebate for small business
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    TFSA vs RRSP – 2024

    February 1, 2024
    When looking to save money in a tax-efficient manner, Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) can offer significant tax benefits. The main difference between the two is that TFSAs are ideal for short-term goals, such as saving for a down payment on a house or a vacation, as its growth is entirely tax-free, while RRSPs are more suitable for long-term goals such as retirement. When comparing deposit differences, TFSAs have a limit of $7,000 for the current year, while RRSPs have a limit of 18% of your pre-tax income from the previous year, with a maximum limit of $31,560. In terms of withdrawals, TFSAs have no conversion requirements and withdrawals are tax-free, while RRSPs must be converted to a Registered Retirement Income Fund (RRIF) at age 71 and withdrawals are taxed as income.
    https://creststonewealth.com/wp-content/uploads/2024/02/TFSA-vs-RRSP-2024.png 300 500 CRESTSTONE Wealth https://creststonewealth.com/wp-content/uploads/2021/05/creststone-logo-550.png CRESTSTONE Wealth2024-02-01 22:34:242024-02-01 22:34:26TFSA vs RRSP – 2024

    British Columbia 2023 Budget Highlights

    March 1, 2023
    On February 28, 2023, the B.C. Minister of Finance announced the 2023 budget. We have highlighted the most important financial measures you need to know: • Tax credit changes. • Increases to the B.C Family Benefit. • Carbon tax changes. • Other important tax changes. • Healthcare and housing spending.
    https://creststonewealth.com/wp-content/uploads/2023/03/British-Columbia-2023-Budget-Highlights.png 250 500 CRESTSTONE Wealth https://creststonewealth.com/wp-content/uploads/2021/05/creststone-logo-550.png CRESTSTONE Wealth2023-03-01 22:48:462023-03-01 22:48:52British Columbia 2023 Budget Highlights

    2023 Financial Calendar

    January 2, 2023
    Welcome to our 2023 financial calendar! This calendar is designed to help you keep track of important financial dates and deadlines, such as tax filing and government benefit distribution. You can bookmark this page for easy reference or add these dates to your personal calendar to ensure you don't miss any important financial obligations.
    https://creststonewealth.com/wp-content/uploads/2023/01/2023-Financial-calendar.png 333 500 CRESTSTONE Wealth https://creststonewealth.com/wp-content/uploads/2021/05/creststone-logo-550.png CRESTSTONE Wealth2023-01-02 20:40:192023-01-02 20:40:232023 Financial Calendar

    Essential tips and tricks for paying less tax and keeping more of your retirement income

    October 5, 2022
    It’s important to make the most of your retirement income. To do so, you need to be aware of what income is and isn’t taxable, and also how to make the most of the tax breaks you’re entitled to. This article outlines the four main steps you need to take to ensure you keep as much of your retirement income as possible: 1. Make a financial plan. 2. Split your pension income. 3. Buy an annuity. 4. Be aware of retirement-related tax breaks.
    https://creststonewealth.com/wp-content/uploads/2022/10/Retirement-income.png 281 500 CRESTSTONE Wealth https://creststonewealth.com/wp-content/uploads/2021/05/creststone-logo-550.png CRESTSTONE Wealth2022-10-05 06:00:002022-10-05 15:53:13Essential tips and tricks for paying less tax and keeping more of your retirement income

    2021 Financial Calendar

    January 21, 2021
    We’ve put together a financial calendar for 2021. It contains all the dates you need to know to make the most of your government benefits and investment options. Whether you want to bookmark this or print it out and post it somewhere prominent, you’ll have everything you need to know in one place!
    https://creststonewealth.com/wp-content/uploads/2021/01/2021-FInancial-calendar-1-2.png 563 1000 CRESTSTONE Wealth https://creststonewealth.com/wp-content/uploads/2021/05/creststone-logo-550.png CRESTSTONE Wealth2021-01-21 21:09:402021-01-22 16:00:092021 Financial Calendar

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    2025 British Columbia Tax Rates

    May 1, 2025
    2025 BC Tax Rates – Get the latest provincial and federal tax rates, including marginal rates, capital gains, and dividends. Stay informed and plan ahead!
    Read more
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    Tax Tips for Filing Your 2024 Income Tax Return

    March 31, 2025
    Get ahead of tax season! Discover what’s new for 2024—from increased CPP contributions and Home Buyers’ Plan changes to key deductions and credits. Maximize your refund and avoid costly mistakes.
    Read more
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    Bank of Canada Announces Interest Rate Cut Amid Economic Uncertainty

    March 12, 2025
    The Bank of Canada has cut interest rates to 2.75%, reflecting ongoing economic challenges and trade uncertainties. Market volatility is normal, but staying disciplined and diversified helps manage risk over the long term. If you have questions or concerns, please reach out—we're here to help. #BankOfCanada #InterestRates #MarketVolatility #FinancialWellbeing
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    Insurance products, including segregated fund policies and health insurance are offered through Creststone Wealth, and Investment Representatives Stephen Cameron, Gail Winzoski, Rochelle Noren, Terry Sorensen and Bharpur Singh Gill offer mutual funds and referral arrangements through Quadrus Investment Services Ltd.

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