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5010 R Income Tax and Benefit Return for BC Only Form

5010 R Income Tax and Benefit Return for BC Only Form

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in today's video I want to cover all the important tax numbers heading into 2025 that every Canadian should know we'll go over the new contribution limits for the tfsa RSP and fhsa and if you don't know what those are we'll cover them in this video we'll also cover CPP as well as the OAS clawback threshold disability tax credits personal tax credits and so much more so let's jump into it let's start off with the most popular one which is the CPP the Canadian pension plan the contribution limits meaning that if you're still working how much do you have to pay into the CPP well it's based on ymp the yearly maximum pensionable earnings and for 2025 that's $71,400 there is a basic exemption for 2025 the same as previously which is $3,500 now again you're going to pay into your CPP up to a maximum amount every year for 2025 that maximum amount is $434 and this is equal to 5.95% and that's your co

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