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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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Heat Warning Continues for Eastern Ontario and Western Quebec

 

Soaring temperatures persist across parts of eastern Ontario and western Quebec, with little relief expected until Tuesday night. Environment Canada reports a humid airmass currently enveloping the region. Here are the key details:

  • Ottawa: The temperature is expected to reach a high of 30°C on Monday, feeling like 37°C with the humidex. Tuesday won’t be much better, with a daytime high of 34°C (humidex included).

  • Nighttime Low: Temperatures won’t drop below 20°C until Tuesday night when a cooler airmass arrives.

  • Health Precautions: Public health officials advise staying hydrated, avoiding outdoor activity during peak heat, and wearing loose-fitting clothing. For those without air conditioning, consider taking a cool bath or finding public buildings with air conditioning, pools, or splash pads.

Stay safe and beat the heat! 

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