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Out here in the countryside, you’d think life would be simpler. But no matter where you are, you can’t escape the taxman. And this year, 2025, the government’s pulling more out of our pockets than ever.
Take CPP contributions—they’re going up again. Workers will see more taken from their paychecks, and self-employed folks are hit even harder with an 11.9% rate. That’s over $8,000 if you’re maxing out. And for those selling investments or property? New capital gains rules mean profits over $250,000 will be taxed at two-thirds instead of 50%. It’s a big blow to anyone trying to plan their finances.
On top of that, gas prices are climbing, thanks to the carbon tax. An extra 21 cents per litre for gasoline by April, and propane’s not far behind. Out here, where we rely on fuel for everything, it’s another burden. Even streaming movies or shopping online will cost more, with new digital service taxes rolling in.
Sure, they’ve bumped up the basic personal amount slightly, but does it really make up for the rest? Not for most of us. It feels like every year, they’re asking us to tighten our belts a little more while they take a bigger share. It’s high time we got powers that be who think about the working man instead of spending our hard-earned dollars foolishly.
So, as 2025 unfolds, keep an eye on these changes. Plan where you can, and maybe let Ottawa know how you feel. After all, it’s our hard-earned money they’re spending. Not that I think it will do any good!
Until next time—keep your minds open and your stories alive! GW