Important TAX CHANGES in CANADA for 2023 | TFSA, RRSP, FHSA, CPP

The TFSA was brought in/created by Stephen Harper-Conservative. Trudeau vowed to abolish the TFSA. All that is happening with the TFSA is that the contribution is being adjusted for inflation.

I thought trudeau would be dancing like an idiot around her

Thanks for the info Gabrielle. Your math is off though. $53359 x 15% = $8003.85

Very good information. Thank you

love u

WOW, beautifully explained Gabrielle, thank you so much! New sub xo

Thanks!

I've been fortunate to incorporate the Canada Pension Plan (CPP) into my retirement strategy, and it has been a game-changer for securing my financial future. Diversifying your investments, including CPP, is key to building wealth over time. Big ups to everyone working hard trying to earn a living while building wealth. I’m 63 and my husband 65 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income.

Sounds like Canada is turning into a dump, from all the corruption and lawlessness... That seesm ot be the staple of the other cults of the earth aht create useless admin jobs as a subset harem system from teh theft oftechnical systems. The Retire ammoutn given to canadians the value you stated is a lie. The Canadian govenrment typicalyl gives actualy canadians and specific groups, around 415. dollars a month.. not near 1200.. dollars at all... The migraitonal polcies adn govenrment take over has made this into a dead project. Ignornace of so many humans simpyl talk, but the abandoned works tells you the cilvisation building itself in ruin from utter hatred from various tribal and groups of canada.

There are many lies that are stated daily to move the mob against the law, so the hosue is lawless, and the state does and has colluded in the americas ot defraud humans out of life... and work.. creating illness. creating problems... that is the state of canada.. Lawless, heartless and without kindness, the asiatics moved in created gangs and stabing in tehir inception, but hte history is often cited in errancy out of hatred out of other groups rather hten truth.

Great info. Just going a tough fast.

What happens to the with holding tax you pay when you withdraw from a RRIF? Other than the with holding tax are there any other penalties for withdrawing cash from aRRIP?

SHES JOKER RIGHT 😂😂😂😂😂😂😂😂😂

Thanks for the video, I spent this whole time thinking that I'll never get my TFSA contribution room back once I withdraw from it. I haven't maxed-out the contribution limit, will my withdrawals still carry over to the next year's contribution limit?

Liberals and NDP will go before I ever think of leaving my country

Giving more money to the government to hold till your retirement or for any other reason is suicide!! You will LOSE 40% of your RRSP.

Get out!

😡 Stop paying taxes 😡 Bring 2A 🎯 GROW SOME B🤬LS ALREADY CANADA 🇨🇦 STRIKE FEAR IN THE GOV 🇨🇦

nothing new

감사합니다! (Gamsahabnida!)

So Cpp I would like to take all cash I have given to Cpp and use what I contributed for my retirement I will never get what I put in out of Cpp such a scam.

Taxes are illegal, go back to school.

Hi Gabrielle . You are so beautiful . 🌹🌹🌹🌹🌹

Might you create a video or comment on if you cap out paying into CPP and if there is an option (assume for example being self employed) to opt out while not reducing what you'd be entitled to based on contribution already made. Can you for example cap out where additional years of payment won't give you added benefit?

Thanks for sharing your informative video with us

Taxes were created illegally by unelected officials on a Sunday afternoon. Your tax money doesn't even stay in your Country. The Governments around the world use your tax money for corrupt illegal activities. MILITARY WILL TAKE THE GOVERNMENT DOWN AND STOP ALL THE CORRUPT TAXES.

Timing is a huge factor too. If you join a company where all the directors, VPs and C-Suites are in theory early 50s, you gotta realize they may be locked in for 10-20 years and therefore there won’t be opportunities to climb. Be aware of the ceiling above you. Just because you’ve been exceptional for a decade, if your team leader, supervisor, manager, director and VP are your age (or God forbid younger), what are you expecting? That the company will create a redundant position to artificially promote you AND now create an empty seat that’s likely hard to fill because you’ve been kicking ass? I’ve seen this way too often. Be aware and make career moves with opportunities

I am sure Truduh has added a Ukrainian tax so we can support the war as people in Canada lose there homes and live in tent's.

If I could move out of this country I would. Government Tax's us to death. Sure can't save $$$ anymore and buying a house is a dream.

hi! regarding CPP, is the employer share contribution remitted to CRA? I asked because I don’t see the employer share reflected in my service canada account. I hope you see this comment and respond. thank you.

She is wearing a pajama in such a teaching video?

What is the best way to withdraw rrsp to pay less taxes

When I’m 65 I will need to meet you so you can get bitch slap you because there will be no CPP in 2050. RRSP are a scam, the value of currency will be a lot less in the future and taxes will be higher.
We younger have to pay more CPP because the government has spend all of our parents CPP contributions.

I appreciate you talking taxes

They tax you like there is no tomorrow because they want to keep up with the life style they have

Do not be a fool and invest anything whatsoever in Canada. Canada is beyond mismanaged; therefore, the best possible solution is to invest in yourself. Then leave Canada and become an American citizen. The USA without a doubt whatsoever offers more value for the one life [you] have compared to Canada. All of these gimmicks that the Canadian government enlists to dupe people out of their hard-earned money is nothing more than a cheesy racquet. Because at the end of the day Canada is way overpriced and overvalued omni present, underperforming in every sense of the economy and currently at the precipice of financial collapse in the biggest housing bubble ever known in the history of mankind. If [you] invest here, you stand to lose everything you invested. Not to mention the precious time you have which is finite. Canada is a waste of time, end of story. Buy gold and silver and remove yourself from the fictitious financial ponzi scheme that is known as Canada. Cheers!

TFSA is a waste of capital due to inflation and RRSPs are a complete scam. Been there, done that and if I had to do it again, WOULDN’T.

What happened to loyalty? Are leeches moving to Canada and shoving off as soon as they can’t get more?

Is CPP payment based on gross income or net income? Thanks

A word of advice. Have an accountant figure out your TFSA limits or pay the very heavy price for going over. Personally I will never use a TFSA, the price of a small mistake is too great. Don’t expect the Canadian government tax office to inform you either. Like a spider waiting for its prey, they will such as much as they can from your hard earned, already taxed dollars, as they can. As close to organized crime as it gets and still call it legal.

You should mention that this is not a government funded program. Its our own money being being back with rules….and regulations..

Tax changes, hmmmmm let me guess... taxes are going down??????

They shouldn’t tax CPP , OAS & MPP

The title is '' Important TAX CHANGES '' and you waste 90% of the time on talking about nothing new, what is the point?
Plus what you call '' important '' is just regular stuff that is just a continuation of the same law and adjustments. If this is all you have to present, don't waste your time and mine!

Thanks madam it is good video, I have huge medical bill in Canada this year ( 2023 ) but no insurance to claim, 31 K, my income also high this year, for next year I am not guaranteed same income being a contractor. Can I claim my medical expenses ( eligible ) on my next year ( 2024 ) tax return so that I get more refund/tax credit.

Thank you!

Despite the change to the tax brackets I do not believe these new tax brackets fully reflect the inflation experienced over the past two-three years, so in effect taxes on real income have actually increased. 
Tax brackets should be inflation adjusted each year so that the Federal (and provincial) governments' revenues are NOT a beneficiary of the inflation which they in fact create

FIN PLANNERS ARE HYPOCRITES. THEY W9RK FOR COMMISSION. NOT YOU