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Smart Celebrations: How to Stretch Your Holiday Budget Without Sacrificing Joy

  The holiday season often brings cheer, but it can also strain wallets. With rising costs and endless temptations, keeping spending under control requires a thoughtful approach. Here are some practical strategies to help you celebrate without financial stress: Set a clear budget : Decide how much you can afford before shopping, and stick to it. Prioritize experiences over things : Shared activities like baking, movie nights, or volunteering can be more memorable than expensive gifts. Shop smart : Compare prices online, take advantage of seasonal sales, and avoid last-minute splurges. Give creatively : Handmade gifts, personalized notes, or “time vouchers” (like babysitting or cooking a meal) often mean more than store-bought items. Limit impulse buys : Make a list before hitting the stores—or browsing online—and resist adding extras. Plan ahead for next year : Start a small savings fund in January to ease the burden when the holidays roll around again. By focusing on tho...
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Canada Kicks Off Tax Filing Season


Today marks the official start of the tax filing season in Canada. As of February 24, Canadians can begin submitting their income tax and benefit returns online. This year, the Canada Revenue Agency (CRA) has introduced several updates to its digital services to make the process smoother and more efficient for taxpayers.

One of the key changes for the 2025 tax season is the increase in federal income tax brackets by 2.7% to account for inflation. The new tax rates are as follows:

  • - 15% for earnings up to $57,375
  • - 20.5% for earnings between $57,375.01 and $114,750
  • - 26% for earnings between $114,750.01 and $177,882
  • - 29% for earnings between $177,882.01 and $253,414
  • - 33% for earnings above $253,414

Additionally, the contribution limit for the Registered Retirement Savings Plan (RRSP) has increased to $32,490 for the 2025 tax year, up from $31,560 the previous year. The maximum pensionable earnings and contributions for the Canada Pension Plan (CPP) have also been adjusted, with the Year’s Maximum Pensionable Earnings (YMPE) set at $71,300.

The CRA encourages taxpayers to file their returns early to avoid any last-minute stress and to ensure they receive any refunds or benefit payments they may be eligible for. The deadline for most individuals to file and pay any taxes owed is April 30, 2025. Self-employed Canadians have until June 16, 2025, to file their tax returns, but any money owed should be paid by April 30 to avoid interest charges.

For more information on the 2025 tax filing season and to access helpful resources, visit the CRA's official website.



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