What are the Biggest TAX CHANGES in CANADA for 2023? Will Taxes go DOWN this year? What are the new TFSA & RRSP Limits? How does the First Home Savings Account work? What are the new TAX BRACKETS in Canada? Will CPP be Increased? How does the Basic Personal Amount work? I’ll be breaking down all of the Essential Tax Changes in Canada for 2023. These updates were just announced and it’s important to plan ahead and make the most of your financial new year! I’ll be breaking down the new TFSA & RRSP Limits, changes to the Canadian Pension Plan (CPP), the updated Tax Brackets and Tax Credits like the Basic Personal Amount and the Lifetime Capital Gains Exemption and the brand NEW tax-sheltered account called the First Home Savings Account (FHSA) to help you save up for a downpayment on your first home! CANADIAN TAX GUIDE – Playlist 🇨🇦 https://youtube.com/playlist?list=PLj8bU3AuW2qEA_ik7NOAIkBY02nt7KAPj YEAR-END Tax Saving Tips 👇 https://youtu.be/xLXup5L-S2Q QUESTRADE REFERRAL 🇨🇦 If you’d like to sign up for Questrade: my favourite online broker, use my referral link to get $50 of COMMISSION-FREE Trade Rebates for the first 30 days! That’s 10 free trades without any commission, $50 in savings! 👇 https://www.questrade.com/?refid=CANADIANTSHIRT Best SAVINGS ACCOUNT in 2023 – EQ BANK 🏦 Your emergency fund should be in a High Interest Savings Account and the best one in Canada right now is EQ Bank which offers 2.5% interest with no monthly fees and no minimum balance! Use my referral link below to sign up 👇 https://click.linksynergy.com/fs-bin/click?id=G4zxVqAvD18&offerid=1115263.5&type=3&subid=0 WEALTHSIMPLE TRADE REFERRAL 💰 If you’d like to sign up for WealthSimple Trade, use my referral link below to get a $25 signup bonus in cash when you open an account and trade at least $100 👇 https://wealthsimple.sjv.io/mD2OZ LOYALTY MEMBERSHIP ✨ Click the JOIN button or the link below to gain access to my exclusive content to see my full portfolio and what stocks I’m buying every month! 👇 https://youtube.com/c/CanadianinaTShirt/join Thank you guys for supporting my channel, you’re the best! 🙏 SKIP AHEAD ⏩ -Intro: 0:00 -TFSA Limit: 1:31 -Max TFSA Limit Table: 3:09 -New Canadians – TFSA Room: 3:50 -RRSP Limit: 4:38 -CPP Changes: 6:07 -Tax Brackets: 8:07 -Basic Personal Amount: 9:39 -Lifetime Capital Gains Exemption: 10:59 -FHSA – First Home Savings Account: 11:58 -Final Thoughts: 13:44 WATCH NEXT ▶️ -How to Buy Stocks in Canada – https://youtu.be/_V2yBWwOZX4 -How Taxes Work in Canada – https://youtu.be/GShKBkv2xY8 -TFSA Mistakes – https://youtu.be/s4cBibLATOU -Year-End Tax Saving Tips – https://youtu.be/xLXup5L-S2Q -How to File Taxes in Canada – https://youtu.be/4RxkNa2VjtU -RRSP Explained Part 1 – https://youtu.be/bKMNgnMBSdE -How to Build Wealth – https://youtu.be/L10wfYl3_Qs -RRSP Mistakes – https://youtu.be/I8k95_R_L_Q -Norbert’s Gambit – Exchange Currency for Free – https://youtu.be/q6Q1dzK8vts Be sure to subscribe to my channel for more videos on investing, Canadian taxes, personal finance and money saving strategies =) FOLLOW ME HERE: 👋 FACEBOOK: https://www.facebook.com/CanadianTShirt INSTAGRAM: https://www.instagram.com/canadiantshirt TWITTER: https://twitter.com/CanadianShirt FINANCIAL EDUCATION BOOKS 📚 -Wealthy Barber Returns – https://amzn.to/2MJ9cIe -How to Adult Money Canada Version – https://amzn.to/2F717ZT -Beat the Bank: Canadian Guide – https://amzn.to/37uqe54 -Investing in Dividends – https://amzn.to/37mUnn3 -101 Tax Secrets for Canadians – https://amzn.to/2RrIuGS -Millionaire Next Door – https://amzn.to/35ap253 -Intelligent Investor – https://amzn.to/3qoI5nV -Making Money in Canadian Real Estate – https://amzn.to/2SKijw6 CAMERA GEAR 📸 -4K Camera – https://amzn.to/3aSHWEg -HD Camera – https://amzn.to/3puBZkT -Tripod – https://amzn.to/2Qf2Lid -LED Ring Light – https://amzn.to/2MKLDyC -Microphone – https://amzn.to/3aRdXMN DISCLAIMER: I am NOT your financial advisor! My videos and the topics discussed are my opinions and are presented for entertainment purposes only. This information should not be construed as legal or financial advice. It is always up to YOU to do your own due diligence. It’s YOUR money so make YOUR own decision! I will NEVER ask you to send me money nor will I ever provide my phone number or personal email address. If you see this, that is a fake account and please report any suspicious activity or scam accounts claiming to be me. DISCLAIMER: Links included in this description may contain affiliate links. I will only ever suggest services or products that I use myself and I personally believe in. If you sign up using my affiliate link, I will receive a small referral bonus at no extra cost to you! Thank you for supporting The Canadian in a T-Shirt! =) #CanadianTaxes #RRSP #TFSA #FHSA #CanadianTaxGuide #CRA #CanadianFinance #CPP
Important TAX CHANGES in CANADA for 2023 // TFSA, RRSP, CPP & FHSA // Canadian Tax Guide Chapter 11