[Canada] Tax and contribution changes for 2025

A new report has shown incoming increases to mandatory Canada Pension Plan and Employment Insurance contributions in 2025, Castanet reports.

The Canadian Taxpayers Federation's annual New Year’s report highlights the most significant changes affecting workers. Those on lower incomes will see some tax relief, however, Canadians making more than $64,000 a year will pay higher income taxes in 2025.

Franco Terrazzano - CTF Federal Director - said, “Tax hikes will give Canadians a hangover in the new year. 

“In 2025, the Trudeau government will yet again take more money out of Canadians’ pockets with payroll tax hikes and will make life more expensive by raising carbon taxes and alcohol taxes.”

A Canadian worker on a wage of $80,000 can reportedly expect to pay an additional $355 to the federal government next year. Workers earning $100,000 or more will pay an additional $403.

Source: Castanet

(Link and quotes via original reporting)

A new report has shown incoming increases to mandatory Canada Pension Plan and Employment Insurance contributions in 2025, Castanet reports.

The Canadian Taxpayers Federation's annual New Year’s report highlights the most significant changes affecting workers. Those on lower incomes will see some tax relief, however, Canadians making more than $64,000 a year will pay higher income taxes in 2025.

Franco Terrazzano - CTF Federal Director - said, “Tax hikes will give Canadians a hangover in the new year. 

“In 2025, the Trudeau government will yet again take more money out of Canadians’ pockets with payroll tax hikes and will make life more expensive by raising carbon taxes and alcohol taxes.”

A Canadian worker on a wage of $80,000 can reportedly expect to pay an additional $355 to the federal government next year. Workers earning $100,000 or more will pay an additional $403.

Source: Castanet

(Link and quotes via original reporting)