NEW CANADA PENSION PLAN [CPP] CHANGES 2024 EXPLAINED

Welcome to my channel! Today, I'm diving deep into the Canada Pension Plan (CPP) and its significant changes coming in 2024. This video is a must-watch for every working Canadian, especially those in the real estate sector. I'll explain how these changes impact your contributions based on your income, the implications for self-employed individuals, and strategies for maximizing your retirement savings.

Key Moments In This Episode
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00:00 - Introduction to CPP & Its Role in Canada
01:55 - Automatic Deductions from Paychecks
03:55 - CPP Contribution Calculations for 2023 & 2024
06:09 - Salary-Based Contribution Tiers
08:28 - Double Contributions for Self-Employed Individuals
10:32 - Tax Savings: Salary vs. Dividend
12:39 - Financial Implications of $100,000 Earnings
14:47 - Investing CPP Contributions for Future Returns

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Please make sure to speak to a professional that knows your personal situation before making a decision.

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DISCLAIMER:

Real estate Tax planning is a personalized decision and will depend on your situation, priorities, and risk tolerance. Consult with your legal and tax advisors to ensure you get the best personalized advice.
The information contained in this video is for general information purposes only.
While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the article or the information, products, services, or related graphics contained on the presentation for any purpose. Any reliance on such information is, therefore, strictly at your own risk.
In no event will we be liable for any loss or damage, including, without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of or connected with the use of this information.

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