January 2025 Bulletin
Paul Hoar CIM?
Modern-Day Investing | Access to Information | Low-cost Index ETFs | High Distribution Yields | Structured Notes | Alternative Investments
?Market Commentary:
The economy has stabilized in recent months as inflation concerns moderate and headwinds created by higher borrowing costs fade amid interest-rate cuts. Recession risk has declined further, and we now assign a 75% probability to a soft landing for the U.S. economy.
All in all, our GDP forecasts continue to anticipate further economic growth, mostly at a moderate clip over the first half of 2025, before accelerating later in the year.
Should you have any questions about what this means to your portfolio, don’t hesitate to reach out.
Source: RBC GAM One Minute Market Update
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CRA 2025 Limits:
? The Tax-Free Savings Account (TFSA) limit will remain at $7,000. Bringing the total cumulative amount since first opening in 2009 to $102,000.
? The Registered Retirement Savings Plan (RRSP) dollar limit for 2025 is $32,490. Bear in mind the amount you can contribute to your RRSP in 2025 is limited to 18 per cent of your 2024 earned income plus any unused RRSP contribution room from 2024.
? If you receive Old Age Security, the OAS repayment threshold is set at $93,454 for 2025, meaning that your OAS will be reduced in 2025 if your taxable income is above this amount.
The new 2025 federal brackets are:
? less than $55,375 : 15 per cent
? $55,375 to $114,750 : 20.5 per cent
?$114,750 to $177,882 : 26 per cent
? $177,882 to $253,414 : 29 per cent
? greater than $253,414 : 33 per cent
Each province also has its own set of provincial tax brackets.
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Tax Consulting:
As we approach that time of year, income tax filing season, I want to remind clients that as a client of Raymond James you have access to speaking with our Tax Consultant, Sam Kyriazis.
To book a one-hour complimentary consulting meeting with Sam, visit Calendly.
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Modern-Day Investing Event:
Come join me for an evening about Modern-Day Investing where we’ll talk about Access to Information, Low-cost Exchange-Traded Funds, High Distribution Yields, Structured Notes, and Alternative Investments.
?? Ponoka Adult Learning, 5604 50 St, Ponoka, AB T4J 1G7
?? 5 - 6pm, February 6th, 2024
*RSVP February 5th at the latest to [email protected]
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Paul Hoar CIM?
Financial Advisor
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Raymond James Ltd.
Suite 2300 – Rice Howard Place Tower 1 (formerly known as Scotia Place)
10060 Jasper Avenue
Edmonton, Alberta T5J 3R8
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Phone: 780-414-2543
LinkedIn: https://www.dhirubhai.net/in/paul-hoar/
This e-newsletter has been prepared by Paul Hoar and expresses the opinions of the author and not necessarily those of Raymond James Ltd. (RJL). Statistics, factual data and other information are from sources RJL believes to be reliable but their accuracy cannot be guaranteed. It is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. The information above is from sources believed to be reliable; however, we cannot represent that it is accurate or complete and it should not be considered personal tax advice. Raymond James advisors are not tax advisors and we recommend that clients seek independent advice from a professional advisor on tax-related matters. This newsletter is intended for distribution only in those jurisdictions where RJL and the author are registered. This provides links to other Internet sites for the convenience of users. Raymond James Ltd. is not responsible for the availability or content of these external sites, nor does Raymond James Ltd endorse, warrant or guarantee the products, services or information described or offered at these other Internet sites. Users cannot assume that the external sites will abide by the same privacy policy which Raymond James Ltd adheres to. Securities-related products and services are offered through Raymond James Ltd., member of Canadian Investor Protection Fund. Insurance products and services are offered through Raymond James Financial Planning Ltd., which is not a member of Canadian Investor Protection Fund.
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