There are things people can do before year-end to save tax. Let’s look at the top 10 strategies
living with his parents. He’s not working at the moment, but he told me the other day he had a promising
interview. “They asked me what my biggest weakness was. I told them that I don’t know when to quit. So, they said I was hired. But the job was really hard, so I quit.”employees to getcan do before year-end to save tax. Let’s look at the top 10 strategies.You’ll be able to claim the Canada training credit in 2024 if you pay for eligible postsecondary courses or fees for an occupational, trade or professional exam taken in the year.
to your new work location. Also, you’ll generally face tax in the province in which you reside on Dec. 31. So, if you’re moving to a higher-taxed province, delaying that move until January might save you tax .If you end up with a tax refund each year owing to certain deductions or credits that you regularly claim, you can apply to reduce the taxes deducted from your pay. Make this request now for your pay starting in 2025 by filing Form T1213.
Tim Cestnick, FCPA, FCA, CPA, CFP, TEP, is an author, and co-founder and CEO of Our Family Office Inc. He can be reached at
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