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Navigating Personal Finance in 2025: Key Changes to Capital Gains and Tax Brackets

As we step into 2025, several significant changes are set to impact personal finance, particularly in the areas of capital gains and tax brackets. These adjustments are designed to adapt to economic conditions and provide better financial planning opportunities for individuals. Capital Gains Tax Adjustments One of the most notable changes is the adjustment to capital gains tax. Starting in 2025, a higher tax rate will be applied to capital gains exceeding $250,000. This means that individuals selling assets with substantial gains may need to reconsider their timing and strategy to minimize tax liabilities. For example, spreading the sale of assets over multiple years could be a more tax-efficient approach. Changes to Tax Brackets Inflation adjustments are also on the horizon for tax brackets. To prevent inflation from pushing taxpayers into higher brackets, the income thresholds for each tax bracket will increase by 2.7%. For instance, the federal tax rate for earnings up to $57,375 wi...
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Gas prices plummet across Canada

 

The average price of gasoline in Canada has dropped significantly in the past week, according to the latest data from GasBuddy.com. The national average is now 136.4 cents per litre, down 4.4 cents from last week. The decline is driven by lower oil prices, which have fallen sharply due to oversupply and weak demand amid the coronavirus pandemic.

Some regions have seen even steeper drops in gas prices. The Greater Toronto Area (GTA) has the lowest average price in the country, at 125.9 cents per litre, down 7.9 cents from last week. The Maritimes also experienced a sharp decline, with Nova Scotia, New Brunswick and Prince Edward Island all seeing their average prices fall by more than 6 cents per litre.

GasBuddy.com analyst Dan McTeague says the trend is likely to continue, as oil producers struggle to find buyers for their excess supply. He predicts that gas prices could drop another 5 to 10 cents per litre in the coming weeks, depending on the region.

"This is unprecedented. We've never seen anything like this before," he says. "It's a buyer's market for gasoline right now."

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