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Three Smart Levers to Cut Your 2025 Tax Bill

Taxes are inevitable, but overpaying them isn’t. With new rules and opportunities in 2025, smart planning can help you keep more of your hard-earned money. Here are three effective levers to reduce your tax liability this year: 1. Maximize Retirement Contributions Contributing to retirement accounts such as RRSPs (Canada) or 401(k)/IRAs (U.S.) remains one of the most effective ways to lower taxable income. Contributions qualify for tax relief at your highest marginal rate, meaning every dollar you save reduces your tax bill significantly. Employer-matching programs make this even more attractive, and withdrawals in retirement can be structured for lower tax exposure. 2. Leverage Tax Credits and Deductions Common deductions include childcare expenses, education costs, and home office claims. Tax credits, unlike deductions, directly reduce the amount you owe, making them especially valuable. Temporary tax breaks introduced in 2025 can be maximized before they expire. 3. Use...
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Federal Incentives Boost Chinese Tesla Imports, Concerning Canadian Auto Industry


Canada’s auto parts industry is expressing concern over the surge in imports of Chinese-made Teslas, which are being subsidized by federal consumer incentive. This trend is seen as benefiting Tesla, a company with no manufacturing presence in Canada, at the expense of local firms with domestic investments.

Key Points:

  • Incentive Alignment: The Auto Parts Manufacturers’ Association suggests aligning Canada’s EV (Electric Vehicles) incentives with the U.S., which excludes rebates for Chinese-manufactured EVs.
  • Market Impact: Statistics show a significant increase in Chinese EV imports to Canada, coinciding with a drop in U.S. EV imports.
  • Policy Implications: The current Canadian incentives do not restrict rebates based on assembly location or battery material sourcing, contrasting with U.S. policies aimed at reducing dependency on Chinese supply chains.
  • Industry Outlook: The rise in Chinese Tesla imports raises concerns about the future competitiveness of Canadian and North American auto parts manufacturers and assemblers.

The industry calls for a reevaluation of incentive policies to support the growth of a homegrown EV industry and reduce reliance on foreign manufacturing, particularly from China.

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