Personal Finance 2025: Key Changes to Capital Gains, Tax Brackets, and Spending Incentives
As the economy navigates a period of slowing inflation, individuals can expect notable changes to their personal finance landscape in 2025. One of the significant updates is the increase in federal tax brackets, which will see a 2.7% rise across all five brackets, a marked decrease from the 4.7% increase witnessed in 2024. Furthermore, two key spending incentives announced by Ottawa in November are set to have a substantial impact in 2025, potentially altering the financial planning strategies for many. With these changes, understanding the new tax brackets, capital gains, and how to leverage the spending incentives effectively will be crucial for optimizing personal finance and making informed investment decisions. As the financial landscape continues to evolve, staying abreast of these developments will help individuals make the most of the upcoming year. KEY areas to watch include financial planning, tax strategy, and investment advice tailored to the new economic conditions.
