New Tax Year 2025 . Summary of the latest federal income tax data, 2025 update. The internal revenue service has announced its annual inflation adjustments for tax year 2025.
Provinces have their own provincial income tax brackets, but for 2025 the federal thresholds will now be: For single filers and heads of households age 65 and over, the additional standard deduction will increase slightly โ from $1,950 in 2024 (returns youโll file soon in early 2025) to.
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New year, new tax measures โ what to expect in 2025 , Hereโs an updated list of the key dates for the 2025/26 tax year, with updates on mtd and other important deadlines for your accounting diary.
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