February Newsletter
John Ridd - Feb 07, 2025
At anytime, if you would like to speak with us, please do not hesitate to reach us directly by phone 905-727-5040 or Ridd.Associates@nbpcd.com. We would also be happy to meet with you in person (either in-person, via video or telephone).
Market and Portfolio Update
We invite you to view the February 2025 market and portfolio update.
Monthly Features
2024 RRSP Contribution Reminder
March 3rd is the deadline for making your RRSP contribution for the 2024 tax year. The maximum RRSP contribution limit for 2024 is $31.560, and any unused contribution room can be carried forward for use in future years. To confirm your personal 2024 RRSP contribution limit refer to your 2023 Notice of Assessment, available through the CRA’s My Account eService at https://www.canada.ca/en/revenue-agency/services/e-services/e-service/e-services-individuals/account-individuals.html.
2025 TFSA Contribution Reminder
The contribution limit for 2025 is $7,000, bringing the lifetime limit up to $102,000. Please let us know if you require any assistance with transferring funds into your TFSA.
Now Available: The 2024 Nesbitt Burns Tax Reporting Guide
This guide provides an overview of tax reporting for BMO Nesbitt Burns clients, information about filing deadlines, estimated mailing dates of tax slips, answers frequently asked questions about the annual tax season, and other information to help simplify clients’ tax preparation efforts.
Access the Tax Reporting Guide.
Proposed capital gains inclusion rate changes – Implementation deferred until 2026
Please see here for details on this important update
We hope you enjoyed this month's newsletter.
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Warm regards,
