Essential tax numbers: Updated for 2025

You have a lot to remember as an advisor, so we’ve assembled this reference list of tax numbers. We’ll update it as things change.

Working clients

• Maximum RRSP contribution: The maximum contribution for 2025 is $32,490; for 2024, it’s $31,560. The 2026 limit is $33,810.
• TFSA limit: In 2025, the annual limit is $7,000, for a total of $102,000 for someone who has never contributed and has been eligible for the TFSA since its introduction in 2009. The annual limit for 2024 is $7,000, for a total of $95,000 in room available in 2024 for someone who has been eligible since 2009.
• Maximum pensionable earnings: For 2025, the maximum pensionable earnings amount is $71,300 (up from $68,500 in 2024), and the basic exemption amount remains $3,500. For 2025, earnings between $71,300 and $81,200 will subject to a second tranche of CPP contributions.
• Maximum EI insurable earnings: The maximum annual insurable earnings (federal) for 2025 is $65,700, up from $63,200 in 2024.
• Prescribed rate: The prescribed rate on loans to family members will be 4% in Q1 2025, and the interest rate Canadians must pay on overdue tax will be 8%. That’s down from 5% and 9%, respectively, in Q4 2024.
• Lifetime capital gains exemption: The lifetime capital gains exemption is $1,250,000 in 2025. Given the proposed changes to the capital gains inclusion rate, the 2024 exemption before June 25 is $1,016,836, and after June 24 is $1,250,000.
• Home buyers’ amount: A client who bought a home may be able to claim up to $10,000 of the purchase cost, and get a non-refundable tax credit of up to $1,500.
• Medical expenses threshold: For the 2025 tax year, the maximum is 3% of net income or $2,834, whichever is less. For 2024, the max is 3% or $2,759.
• Basic personal amount: The basic personal amount for 2025 is $16,129 for taxpayers with net income of $177,882 or less. At income levels above $177,882, the basic personal amount is gradually clawed back until it reaches $14,538 for net income of $253,414. The basic personal amount for 2024 ranges from $14,156 to $15,705.

Older clients

• Age amount: Clients can claim this amount if they were aged 65 or older on Dec. 31 of the taxation year. The maximum amount they can claim in 2025 is $9,028, up from $8,790 in 2024.
• OAS recovery threshold: If your client’s net world income exceeds $93,454 in 2025 or $90,997 in 2024, they may have to repay part of or the entire OAS pension.
• Lifetime ALDA dollar limit: The limit is $180,000 for 2025 and $170,000 for 2024.

Clients with children and other dependants

• Canada caregiver credit: A client with a dependant younger than 18 who’s physically or mentally impaired may be able to claim up to an additional $2,687 in 2025 and $2,616 in 2024 in calculating certain non-refundable tax credits. For infirm dependants 18 or older, the amount for 2025 is $8,601 and the 2024 amount is $8,375.
• Disability amount: This non-refundable credit is $10,138 in 2025 ($9,872 in 2024), with a supplement up to $5,914 for those under 18 ($5,758 in 2024) that is reduced if child care expenses are claimed.
• Child disability benefit: The child disability benefit is a tax-free benefit of up to $3,411 in 2025 ($3,322 in 2024) for families who care for a child under 18 with a severe and prolonged impairment in physical or mental functions.
• Canada child benefit: In 2025, the maximum CCB benefit is $7,997 per child under six and up to $6,748 per child aged six through 17. In 2024, those amounts are $7,787 per child under six and up to $6,570 per child aged six through 17.

Federal tax brackets

Federal bracket thresholds will be adjusted higher in 2025 by 2.7%.

• The 33.0% tax rate begins at taxable income of over $253,414, up from $246,752 in 2024.
• The 29.0% tax rate begins at taxable income of over $177,882, up from $173,205 in 2024.
• The 26.0% tax rate begins at taxable income of over $114,750, up from $111,733 in 2024.
• The 20.5% tax rate begins at taxable income of over $57,375, up from $55,867 in 2024.
• Income up to $57,375 is taxed at 15.0%.