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Courses/Accounting & Tax/Income Tax

Income Tax Update 2024 and 2025

Master the latest tax rules and strategies for 2024 and 2025, ensuring you maximize your financial opportunities and minimize your tax burden.

Created bySophie Wang
4.8
(42 reviews)
IntermediateUpdated Mar 17, 2025
Income Tax Update 2024 and 2025

What You'll Learn

check_circleUnderstand updated income tax brackets and rates for 2024 and 2025.
check_circleAnalyze changes to the capital gains inclusion rate and the lifetime capital gains exemption
check_circleExplore new rules for passive investment income and their impact on small business deductions.
check_circleLearn about income splitting updates and the introduction of Employee Ownership Trusts.
check_circleIdentify key changes to employment income and benefits, including work-from-home expenses and taxable benefits.
check_circleGain insight into the updated CPP and EI contribution rates and the maximum insurable earnings for 2024 and 2025.

About This Course

Stay ahead of the tax curve with "Income Tax: Update 2024 and 2025"! This comprehensive course covers the latest changes to Canadian tax laws, providing valuable insights for tax professionals and individuals alike. We'll delve into new tax rates, investment taxation updates, business owners and employee considerations, and international tax implications. This course is your guide to navigating the complexities of income tax, equipping you with the knowledge to confidently manage your personal finances and make informed business decisions.

  • Understand the impact of updated tax brackets on different income levels.
  • Explore the new capital gains inclusion rate and its implications for individuals and corporations.
  • Discover how the increased lifetime capital gain exemption can influence the market for private corporations.
  • Learn about changes to the tax-free savings account (TFSA) contribution limit.
  • Gain insight into the updated basic personal amount (BPA) and its impact on your tax liability.
  • Dive into key updates for small businesses, including the small business deduction and passive investment income.
  • Get up to speed on income splitting changes and the introduction of Employee Ownership Trusts.
  • Understand the latest developments regarding CPP and EI, including the new CPP2 contribution.
  • Explore updates to taxable benefits, including work-from-home expenses, company cars, meal allowances, and employee stock options.
  • Gain a clear understanding of EI premiums, including the maximum insurable earnings and premium rates.

Join us and master the ever-evolving world of income tax. You'll gain a clear understanding of the latest rules and regulations, enabling you to maximize your financial potential and confidently navigate the tax landscape.

Your Instructor

Sophie Wang
Sophie Wang
menu_book13 courses
star1,320 reviews

I am Sophie, a Certified Public Accountant (CPA) with more than 10 years of experience and an Accounting degree, I love to bring expertise and practical knowledge to the table. Passionate about accounting, I enjoy simplifying complex concepts for students. My teaching style combines real-world examples with interactive methods, aiming to make accounting principles accessible. I am dedicated to nurturing aspiring accountants and professionals through workshops and mentorship, contributing actively to the field while staying updated with industry trends.

Credit Information

Do these courses count toward my professional development requirements?

This portal is provided as a training and development resource for City of Markham employees. Every course is delivered by a qualified subject matter expert or learning organization, is quantifiable in hours, and is verifiable — you receive a documented certificate of completion for every course you finish, stored on LearnFormula indefinitely.

If you hold a professional designation (for example in engineering, accounting, human resources, or law), courses may be counted as professionally relevant, verifiable learning activities toward your continuing professional development. Individual practitioners are responsible for confirming that an activity meets the requirements of their professional body. For questions about the City of Markham's training and development policies, please speak with your people leader or Human Resources.

What Students Are Saying

4.8
Student's Choice
42 reviews

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.