Tax Planning: 2024 Year-end Considerations for Businesses and Individuals

Posted on October 22nd, 2024 in Domestic Tax, General Business

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RSM Canada’s 2024 year-end tax guide summarizes the key federal, provincial, and territorial tax updates that may create risk or opportunity for middle market taxpayers going into 2025.

Tax trends and topics discussed as the Canadian economy moves into 2025 include:

Increase to the capital gains inclusion rate
Introduction of the Digital Services Tax Act and Global Minimum Tax Act
Enactment of the excessive interest and financing expense rules
Updates to the general anti-avoidance rule

As year-end approaches, companies and individuals alike must carefully consider tax-planning opportunities in light of economic uncertainty and evolving tax legislation and regulations. Learn more in the year-end planner.

Download the Guide

Federal and Provincial Tax Rates

Federal and provincial tax rates, limits and phase-outs directly affect your business and personal tax planning strategies. Download the federal and provincial/territorial rate cards.

Download the Rate Cards

Canadian Tax Integration of Private Company Income

Tax integration is achieved when a particular stream of income is subject to the same or similar total tax rate once it reaches the individual taxpayer level. These tables provide an illustration of how the Canadian income tax integration system works.

Learn More

Tax planning guide prepared by RSM Canada and referenced with permission as a participant in the Professional Services+ Collaborative.