2024 is shaping up to be an exciting year, with many changes already happening and plenty to keep a sharp eye on as the year unfolds. We’ll be paying attention and keeping you informed as events unfold. Here are just some of the changes the new year has triggered.
2024 Key Figures
Maximum RRSP Contribution | $31,560 |
Maximum TFSA Contribution | $7,000 |
Lifetime Cumulative TFSA | $95,000 |
Lifetime capital gains exemption | $1,015,631 |
Basic Personal Exemption | $15,705 |
Maximum Pensionable Earnings (YMPE) | $68,500 |
Year Additional Maximum Pensionable Earnings (YAMPE) | $73,200 |
Maximum CPP at age 65 | $1,364.00 |
Average CPP at age 65 | $758.32 |
Maximum OAS at age 65 | $713.34 |
OAS Clawback begins at | $86,912 |
OAS Clawback Rate: | 15% |
OAS 100% Clawback Income (up to age 75) | $142,609 |
OAS 100% Clawback Income (over age 75) | $148,179 |
RRSP Contribution Deadline for 2023 - February 29th
Contact your advisor to discuss how this may impact your current or future financial planning
Comments