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Canada’s July 1, 2025 Tax Cut: From 15% to 14% — What You Need to Know

Canada’s July 1, 2025 Tax Cut: From 15% to 14% — What It Means for You and Your Business

2 July 2025 TAX4 LESS.CA
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Finance, Individual, Payroll, Tax credits and benefits for individuals

As Canada prepares to implement a significant tax cut on July 1, 2025, the reduction from 15% to 14% is set to impact individuals and businesses alike. This change not only promises to lighten the financial burden for taxpayers but also opens up new opportunities for growth and investment. Curious about how this tax cut could affect your wallet or your business strategy? Join us as we delve into the implications of this shift, explore potential benefits, and provide insights on how to navigate the new landscape. Don’t miss out on what this means for your financial future!

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Five Benefits of Incorporating Your Business in Canada

25 October 2024 TAX4 LESS.CA
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Business Tax-Individual, Corporations Business Tax, Finance, GST/HST, Individual, Payroll, Tax credits and benefits for individuals

Incorporating your business in Canada can unlock a world of financial benefits that not only enhance your current situation but also secure your family's future. From the lifetime capital gains exemption that can save you significant taxes upon selling your business to the flexibility of income splitting with family members, the advantages are compelling. Imagine having greater control over your salary and dividends, facilitating generational wealth transfer, and accessing lower tax rates through the small business deduction. Discover how these benefits can transform your business and financial landscape—read on to learn more!

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Canada Child Benifit

Steps to apply for Canada child Benifit(CCB) as a New comer

22 June 2023 TAX4 LESS.CA
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Tax credits and benefits for individuals

Are you a newcomer to Canada with children under 18? You might be eligible for the Canada Child Benefit (CCB)! Navigating the application process can be daunting, but we’ve broken it down into simple steps just for you. From obtaining your Social Insurance Number to filing your tax return and applying online, we’ve got you covered. Plus, learn how to keep your information up to date and why consulting a professional can make a difference. Don’t miss out on this valuable benefit—read on to discover how to secure financial support for your family!

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GST HST Credit who is Eligible and How to apply

18 May 2023 TAX4 LESS.CA
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Tax credits and benefits for individuals

Are you a low- or modest-income individual or family in Canada? Discover how the GST/HST credit can help you offset the costs of the Goods and Services Tax and Harmonized Sales Tax on your purchases. This tax-free quarterly payment is designed to provide financial assistance based on your family income and number of dependents. Learn about eligibility requirements, how to apply, and the benefits of this important program. Don’t miss out on the support you may be entitled to—read on to find out how to maximize your benefits and ease your financial burden!

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Canada Child Benefit

3 April 2023 TAX4 LESS.CA
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Tax credits and benefits for individuals

The Canada Child Benefit (CCB) stands as a beacon of hope, embodying Canada's commitment to supporting families and promoting equity. This dynamic program not only uplifts families but also fosters an environment where every child can thrive, irrespective of their economic circumstances. By investing in the well-being of the nation's youngest citizens, the CCB plays a pivotal role in reducing inequality and breaking the cycles of poverty. As a cornerstone of social policy, it reflects a promise to nurture the potential of every child, ensuring a brighter future for all. Discover how the CCB shapes Canadian society and empowers families.

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CWB- Canada Worker-Benifit

Canada Worker Benifit(CWB) and who is Eligible

23 February 2023 TAX4 LESS.CA
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Tax credits and benefits for individuals

Discover how the Canada Workers Benefit (CWB) can provide crucial financial support to low-income workers and their families. This refundable tax credit is designed to uplift those who are working hard but still struggling to make ends meet. Are you eligible? Learn about the key criteria, including age, income thresholds, and employment status, that determine your access to this benefit. With potential payouts of up to $2,335 for families, the CWB could make a significant difference in your financial situation. Dive in to find out how you can benefit and take control of your financial future!

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