Tim Lew (@lewlewlemonn) 's Twitter Profile
Tim Lew

@lewlewlemonn

Tweeting to the bots.

ID: 1568874051593969665

linkhttps://www.kindwealth.ca calendar_today11-09-2022 08:08:43

86 Tweet

125 Followers

77 Following

Tim Lew (@lewlewlemonn) 's Twitter Profile Photo

Changes are set to come to the Home Buyers Plan. Recap: - RRSP withdrawal increases to $60k, was $35k - RRSP repayments start up to 5 years post-purchase; was 2 years - Same 15-year repayment window - Annual repayment (assuming maximum withdrawal) increases to $4k, was $2,333

Aaron Hector, R.F.P., CFP, TEP (@aaronhectorcfp) 's Twitter Profile Photo

PSA re: the new HBP limit of $60,000. If you are anticipating a home purchase in the very near term - read this to avoid a big mistake. The HBP has a 90 day rule. This means that any amounts withdrawn from your RRSP via the HBP must have been inside your RRSP for at least 90

Aravind Sithamparapillai (@aravindsitham) 's Twitter Profile Photo

Federal Budget just dropped and there's a lot to unpack. If you are incorporated or have a trust - the capital gains inclusion rate rising from 1/2 to 2/3 is something you NEED to understand. More of your capital gain is taxable. Here's how that affects you: 👇🧵

Benjamin Felix (@benjaminwfelix) 's Twitter Profile Photo

Capital gains tax rates in Canada are a function of the capital gains inclusion rate and the income tax rate. Budget 2024 proposes increasing the inclusion rate to 66.67%, up from 50%. The result is a top capital gains rate of 35.69% in Ontario, among the highest in history.

Capital gains tax rates in Canada are a function of the capital gains inclusion rate and the income tax rate.

Budget 2024 proposes increasing the inclusion rate to 66.67%, up from 50%.

The result is a top capital gains rate of 35.69% in Ontario, among the highest in history.
Aaron Hector, R.F.P., CFP, TEP (@aaronhectorcfp) 's Twitter Profile Photo

2025 figures! Following this morning's CPI announcement, we now have the entire dataset required to determine many figures relevant to Canadians for the year 2025. I calculated what the indexation increase will be that is used to inflate the 2024 figures to get the 2025

2025 figures!

Following this morning's CPI announcement, we now have the entire dataset required to determine many figures relevant to Canadians for the year 2025.

I calculated what the indexation increase will be that is used to inflate the 2024 figures to get the 2025