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What’s changing for personal finance in 2025, from capital gains to tax brackets

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What’s changing for personal finance in 2025, from capital gains to tax brackets

We have reached the end of a year of change, in which our leaders turned their attention from tamping down inflation to spurring a lagging economy. It also saw the federal government releasing a host of new policies, as it prepared for an election in 2025.

We outline some of the biggest changes in personal finance coming in the new year.

Capital-gains inclusion rate

The federal government’s move to raise the capital-gains inclusion rate was the headline policy in its 2024 budget. Canadians will feel its impact for the first time when filing their taxes in 2025.

As of June 25, the capital-gains inclusion rate of 50 per cent for individuals only applies to profits under $250,000. All profits above $250,000 will face a 66.7-per-cent inclusion rate.

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Since most Canadians invest in tax-sheltered accounts such as tax-free savings accounts, the majority of people will be shielded from any tax changes. But anyone selling a secondary home or significant non-sheltered investments could pay thousands more in taxes in a given year.

Public dental care opens to all eligible people

The Canadian Dental Care Plan, which helps cover costs at the dentist’s office for Canadians without insurance, started rolling out in 2024 for seniors and people under 18.

In 2025, Ottawa will open the program to the remaining eligible Canadians. Eligibility requirements include a net family income under $90,000, being a Canadian resident for tax purposes, and having filed a tax return in the previous year.

Between 40 per cent and 100 per cent of eligible costs will be covered, depending on income.

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Tax bracket adjustments

As inflation slows down, so does the increase in federal tax brackets. All five brackets will rise by 2.7 per cent for 2025, compared with an increase of 4.7 per cent for 2024.

GST holiday and rebate cheques

Two spending incentives unveiled by Ottawa in November will have a large part of their impact in 2025.

First, a federal sales-tax holiday on specific goods that started mid-December will last until Feb. 15. In some provinces, consumers will also be exempt from paying the provincial portion of sales tax. Exempted purchases include restaurant meals, books, beer and wine.

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The government also said it would send $250 rebate cheques to Canadians in April. However, that program wasn’t included in the GST holiday legislation or the fall economic statement in December, as the Liberals did not anticipate enough support for the measure in Parliament. The cheques were to be sent to Canadians who worked in 2023 and made under $150,000 in net individual income.

B.C. introduces anti-home-flipping tax

A tax meant to prevent the short-term holding of homes for profit will go into effect on Jan. 1 in British Columbia.

Anyone selling a home that they have owned for less than 730 days will be subject to a 20-per-cent tax on any profit.

The tax is distinct from the federal government’s rules to discourage property flipping, which treat profits as fully taxable on an individual’s income-tax return.

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New rules for down payments and mortgages

New mortgage rules will allow Canadians to make smaller down payments on properties valued at more than $1-million. Previously, buyers had to have a down payment of at least 5 per cent for homes valued under $500,000, 10 per cent for every dollar between $500,000 and $1-million, and 20 per cent of every dollar over $1-million.

As of mid-December, buyers now have to have a 5-per-cent down payment up to $500,000, and 10 per cent between $500,000 and $1.5-million. The 20-per-cent minimum now starts at $1.5-million.

Insured mortgages will also be allowed on homes of up to $1.5-million, up from a $1-million cap previously. Insured mortgages come with lower interest rates when purchasing a home with a down payment below 20 per cent, but they require the purchase of an insurance premium that is rolled into the mortgage.

First-time buyers and buyers of new builds will also have access to 30-year mortgages, up from the previous cap of 25 years.

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Easing loan access for building secondary suites

The federal government is adding two new ways to make it easier to finance a secondary suite, such as a basement rental unit, for an existing home.

The first is the Canada Secondary Suite Loan Program, which will give homeowners access to a low-cost loan of up to $80,000 to build a suite. It is expected to launch in early January, with 15-year terms and an interest rate of 2 per cent.

Homeowners will now also be able to refinance their insured mortgages if they use the equity to build secondary suites, up to a limit of $2-million. This will allow them to retain the lower rates that come with an insured mortgage when refinancing.

Government sets lower limit on interest rates for lenders

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New loans starting from Jan. 1 will be subject to new rules that set the criminal interest rate at 35 per cent, down from the previous threshold of roughly 48 per cent. The government said the change is meant to crack down on high-interest lending from alternative lenders.

Are you a young Canadian with money on your mind? To set yourself up for success and steer clear of costly mistakes, listen to our award-winning Stress Test podcast.

Finance

Bérangère Michel announced as BBC Group Chief Financial Officer

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Bérangère Michel announced as BBC Group Chief Financial Officer

The BBC has announced that Bérangère Michel has been appointed to the role of Group Chief Financial Officer.

Bérangère brings extensive experience from her 16-year career at the John Lewis Partnership, where she held senior roles including Chief Financial Officer, Customer Service Executive Director, Operations Director and Finance & Strategy Director.

Prior to joining the John Lewis Partnership, Bérangère spent 11 years at the Royal Mail Group in a number of finance, change and strategy roles, including as Finance Director of the property division.

In an expanded role as BBC Group Chief Financial Officer, Bérangère will be responsible for the overall BBC Group financial strategy, with a remit across BBC Public Service, BBC Studios and the BBC’s commercial subsidiaries. She will play a leadership role and will sit on both the Executive Committee and, for the first time, the Board.

This position will strengthen the BBC’s financial leadership, support its transformation, and make the best use of the licence fee and commercial opportunities. Bérangère will report to the Director-General and will take up the role in early January.

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Director-General Tim Davie says: “Bérangère brings a wealth of experience from her time at the John Lewis Partnership and will play a critical role in shaping our new financial strategy. I’m pleased to welcome her to the BBC, and to both the Executive Committee and Board.

“Bérangère’s appointment to this expanded role comes at an important time for the BBC, as we look ahead to Charter renewal and continue to accelerate our transformation to deliver outstanding value for our audiences.”

BBC Chair Samir Shah says: “The role of Group Chief Financial Officer will be hugely important as we build a BBC for the future, and I look forward to welcoming Bérangère to the Board.”

Bérangère Michel says: “I am delighted to be joining the BBC, an institution whose purpose and mission I have always admired. It’s a privilege to be part of shaping its exciting future at such a crucial moment and I cannot wait to get started.”

BBC Press Office

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ATI Promotes Longtime Leader to CFO and SVP of Finance

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ATI Promotes Longtime Leader to CFO and SVP of Finance

ATI Inc., a Dallas-based manufacturer of high-performance materials for the aerospace and defense industries, announced that James Robert “Rob” Foster will be promoted to senior vice president of finance and chief financial officer, effective January 1, 2026.

Foster succeeds Don Newman, who will serve as strategic advisor to the CEO beginning January 1. As previously announced, Newman will retire on March 1, 2026, and serve in an advisory capacity in that time to allow for a smooth transition.

“Rob is a proven P&L leader with enterprise-wide experience in the areas that matter most to ATI’s continued growth,” Kim Fields, president and CEO, said in a statement. “He brings deep expertise not only in finance but also as an operational leader. Rob played a pivotal role in the successful Specialty Rolled Products transformation, consistently helping ATI to deliver strong returns and shareholder value. I look forward to partnering with him as we enter our next phase of profitable growth.”

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Foster, a longtime ATI leader, brings both operational expertise and financial discipline to the CFO role, the company said. He most recently served as president of ATI’s specialty alloys & components business, where he improved efficiency, grew capacity, and advanced the company’s role as a global leader in exotic alloys. Foster previously served as vice president of Finance, Supply Chain, and Capital Projects, overseeing ATI’s global finance organization, capital deployment processes, and enterprise supply chain performance. Earlier in his career, he led Finance for both ATI operating segments and the Forged Products business.

“I’m honored to become ATI’s next CFO,” said Foster. “ATI is well-positioned with a strong balance sheet, focused strategy, and significant opportunities ahead. I look forward to working with our team to drive disciplined investment, operational excellence, and long-term value creation for our shareholders.”

Newman added, “Rob is an exceptional leader who understands ATI’s strategy, operations, and financial drivers. He has delivered transformative results across the organization. I look forward to supporting a seamless transition as we pursue this next step in our succession planning.”

Before joining ATI in 2012, Foster held senior finance roles at API Technologies Corp. and Spectrum Control Inc., where he led ERP implementations, acquisition integrations, and internal control enhancements. He began his career as an auditor at Ernst & Young (EY).

ATI produces high-performance materials and solutions for the global aerospace and defense markets, and critical applications in electronics, medical, and specialty energy. 

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R E A D   N E X T

  • The company said Keith Schroeder brings more than 40 years of experience in accounting, corporate control and reporting, finance, operations, and CEO and CFO strategic roles.

  • James Cook announced his retirement after 24 years of service and will officially retire on June 30. James Gilligan will take his new post, effective June 16.

  • Anthony DiSilvestro joins KDP at a pivotal moment as it moves to close its $18 billion acquisition of Netherlands-based JDE Peet’s. His “significant” M&A experience will advance the combined company’s integration and its ultimate split into two “winning companies,” CEO Tim Cofer said.

  • Donna Guy brings more than 25 years of experience in financial leadership across public and private companies to her new position. 

  • Last week, Irving-based Caterpillar marked its 100th anniversary year with celebrations throughout the U.S. commemorating “a monumental moment” in the company’s history. The company officially turns 100 on April 15, marking a century of “customer-centric innovation and industry-leading transformation”

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Abu Dhabi seeks to build bridge between new media & finance – The Times of India

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Abu Dhabi seeks to build bridge between new media & finance – The Times of India

ABU DHABI: Instead of waiting for the future of media, Abu Dhabi is building it. The city played host this week to leading names from media and entertainment industries at the Bridge Summit, aptly named for seeking to position the emirate at the intersection between new-age media, innovation and investment.The three-day event at Abu Dhabi National Exhibition Centre from Dec 8 to 10 buzzed with energy, new ideas, collaborations and MoU deals as thousands of content creators, media brands, communicators, tech developers, AI innovators, investors and academics — who have been working in isolation — converged to brainstorm ideas, analyse future trends in the media industry and discuss ways to monetise them. How to get around the associated risks of privacy violation, fake news and narratives, defamatory content and online harassment were a natural corollary to the discussions.The idea of Bridge Summit originated at a lunch meeting in Abu Dhabi earlier this year between Sheikh Abdulla Bin Mohammed Bin Butti Al Hamed, chairman of UAE National Media Office, and Richard Attias, the Moroccan events producer associated with the Clinton Global Initiative, Nobel Laureates Conference and Davos Forum. The two discussed how UAE could give media, creators, tech innovators, social media outlets and investors a platform to connect and build the future of media. Eight months later, that dream turned into reality with Bridge Summit.Al Hamed, in his opening address, outlined Bridge Summit’s mission to unite media, technology, finance, and culture in building a more trusted, inclusive, and resilient information order.Speaking to TOI on the sidelines of the summit, Jamal Mohammed Obaid Al Kaabi, DG, UAE National Media Office and Bridge Alliance vice-chairman, said the forum seeks to secure a win-win situation for all, be it govts, media, content creators, social media platforms, gamers, investors and technology providers. “We are trying to help everyone — those who have a story to reach production, a company to reach a customer and govts to understand what’s happening in the market”.He added: “We believe that Bridge can be the brand that people will trust and look at in the future. We can connect it with media initiatives around the world. We believe that positive narrative can be supported through Bridge”.The global media and entertainment industry generated over $2.8 trillion last year, with gaming alone rivaling film and television at nearly $200 billion. Streaming continues to reshape consumption, while nearly 70% of content creators are already using AI tools.Rubbing shoulders at the summit were former heads of state, journalists, representatives of social media platforms, AI innovators, gaming developers, entrepreneurs and media influencers from across the globe; actors Priyanka Chopra Jonas and Idris Elba and footballer Gerard Pique lent it star power.Over three days of fireside chats, panel discussions, workshops and MoU signing, content creators and influencers took lessons from experts and peers on how to tell their stories better and hold their audience’s attention till the last frame.With artificial intelligence (AI) tools revolutionising the media space and content creation industry, engagements delved into how to maintain a judicious balance between human intelligence and artificial intelligence while tailoring content to suit users’ preferences and attention span.Sessions reflected on how the traditional print and TV journalism is being rapidly taken over by digital news content. Justin Smith, CEO of independent global news company Semafor, predicted that human journalist will continue to be relevant as the primary resource for original information, but must learn to harness the power of AI to add value. Richard Attias, who is on the Bridge board of directors, had a word of caution: “Human intelligence needs to always challenge artificial intelligence. We should not be losing the control of AI, which is like a robot”.According to UK journalist and broadcaster Emily Maitlis, agenda-based journalism is inevitable in the age of social media as one with a louder voice and reach, who can put out his version of the story more convincingly, tends to control the narrative. Adeline Hulin, chief of media and information literacy unit at Unesco, revealed that a global survey had found that 62% users don’t do any fact-checking before forwarding information online; most content creators are unaware of the international standards of freedom of expression; and just 20% users report hate speech. “Unesco has developed a global curriculum for media information literacy. We are working to integrate it with formal education and getting local partners to organise hackathons,” she said.Former deputy PM of UK Oliver Dowden advocated industry-led responsibility over sweeping regulation, saying there should be “clear guardrails” as creator content becomes the primary source of information for young audiences.Al Kaabi said Bridge Summit is just the beginning and “pop up” events will be held each coming quarter across America, Asia, Europe and Africa. “We want to hold a mini-Bridge in India. Also, there shall be more of Bollywood, not just Priyanka, at the next edition of the summit here,” he said.(The writer was in Abu Dhabi at the invitation of Bridge Alliance)

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