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2024-2025 Income Tax Update

An in-depth look at significant changes to Canadian federal and Ontario tax laws and their impact on filings.

Created byAlex Garber
BeginnerUpdated Nov 11, 2024

What You'll Learn

  • check_circleRecognize key updates to federal and Ontario tax brackets and rates for 2024.
  • check_circleUnderstand the new capital gains inclusion rate and its impact on various taxpayers.
  • check_circleExplain expanded reporting requirements for certain trusts, including penalties.
  • check_circleAnalyze corporate tax rates and integration calculations specific to Ontario.
  • check_circleApply new rules regarding deductions and income limitations for short-term rentals.
  • check_circleIdentify tax credits available for clean technology and electric vehicle investments.

About This Course

The 2024-2025 Income Tax Update seminar will provide an overview of developments in Canadian income taxation that occurred during 2024 and are relevant for tax filings for the 2024 taxation year and beyond.

Created and presented by Alex Garber, an experienced tax advisor and educator, this seminar focuses specifically on various tax changes and recent developments significant for Canadian taxpayers.

Intended Audience: Professionals (both in public practice and industry) dealing with personal and/or corporate taxation in Canada.

Topics Covered Include:

  • Personal tax brackets and tax rates (Federal and Ontario)
  • Corporate tax rates (Federal and Ontario)
  • Limits for RRSP, TFSA, LCGE, automobiles, etc.
  • Ontario integration calculations
  • Significant income tax developments (Federal and Ontario) announced in 2024, including proposed changes to the taxation of capital gains after June 24, 2024

This seminar is designed to equip professionals with the latest information and strategies to navigate the evolving landscape of Canadian taxation.

Course Content

1 activity • 1 videos • duration: 3h 6m

remove
Section 11 videos • 3.1 hours
  • videocam2024-2025 Income Tax Update
    Duration 186:38

Your Instructor

Alex Garber

Educator and Tax Advisor

menu_book20 courses
star7,665 reviews

Alex Garber, CPA, CA, MTax has been working in public accounting since 2004, focusing primarily on income taxation for Canadian owner-managed businesses and their shareholders. Alex presents PD seminars for CPA Ontario and facilitates at the CPA Canada In-Depth Tax Program. Alex is also a faculty member at the Schulich School of Business, York University, where he teaches income taxation at both undergraduate and master's levels. Alex started his career with Deloitte and Touche LLP in Toronto. He is currently an independent tax advisor, assisting various clients, sole-practitioners and CPA firms in Ontario.

Credit Information

Is this course eligible for my CPD requirements as a Canadian CPA?

Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.

Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.

What Students Are Saying

4.7 out of 5
Student's Choice
690 reviews
  • VW
    vida w.
    starstarstarstarstar

    This is a comprehensive session about the personal and corporation tax update. Excellent lecture and presentation! Thank you!

  • MC
    Marianna C.
    starstarstarstarstar

    Very good session

  • WC
    William Blake C.
    starstarstarstarstar

    This was a very good match for me as it targeted and summarized the changes very well.

  • TJ
    Tresha J.
    starstarstarstarstar

    I am amazed anyone can keep up with the changes. Thanks for breaking it down in examples.

Frequently Asked Questions

We are a registered provider with 300+ associations and regulatory bodies worldwide. We operate across 27 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.

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