2025 Tax Season Changes

This is a news story, published by Global News, that relates primarily to CCA news.

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tax filing season

Global News

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Tax changes are coming in 2025. Here’s what Canadians need to know - National | Globalnews.ca

Summary

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87% Informative

There are several changes coming into effect as early as Jan. 1 that could affect people’s pocketbooks and how they file tax returns.

The official 2025 tax season kicks off in mid-February .

A two-month “tax holiday” on various items, including groceries, will remain in effect till Feb. 15, 2025 .

For new and used Class 10.1 passenger vehicles acquired on or after Jan. 1, 2025 , the ceiling for capital cost allowances ( CCA ) will be increased from $37,000 to $38,000 (before tax) The limit on the deduction of tax-exempt allowances paid by employers to employees who use their personal vehicle for business purposes in the provinces will increase by two cents to 72 cents per kilometre for the first 5,000 kilometres driven.

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Informative language

Neutral language

Article tone

formal

Language

English

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not offensive

Hate speech

not hateful