Jatinder Hundal Inc. Chartered Professional Accountants

🎄✨ Happy Holidays & Happy New Year! ✨🎉

Warm wishes from Jatinder Hundal Inc., Chartered Professional Accountants.
Thank you to our valued clients and community for your continued trust and support throughout the year.

📢 Office Address Update:
We are pleased to welcome you at our new location:
📍 211-1779 Clearbrook Road, Abbotsford, BC V2T 0K6

We look forward to serving you from our new office in the New Year.
Wishing you a joyful holiday season and a prosperous year ahead!

📢 Holiday Office Closure Notice

Our office will be closed for the holidays from December 31 to January 4.
We will reopen on January 5 and respond to all inquiries then.

Thank you for your continued trust and support.
✨ Wishing you a happy and prosperous New Year!

📢 We’re Moving! New Office Location Announcement

We’re excited to share that Jatinder Hundal Inc., Chartered Professional Accountant, is moving to a new office! 🎉
To better serve our clients with improved space and convenience, we will be operating from our new location starting December 1, 2025.

📍 New Address:
Unit 211 — 1779 Clearbrook Road
Abbotsford, BC V2T 0K6

All our accounting and tax services will continue as usual, with the same dedication and personalized support you trust.

We look forward to welcoming you to our new office soon!
If you have any questions, feel free to reach out.

Thank you for your continued trust and support. 🙏
— Jatinder Hundal Inc.,
Chartered Professional Accountant

Canada’s 2025 Budget: Key Tax Proposals You Need to Know!

The 2025 Canadian federal budget brings significant changes to the tax landscape, with particular focus on housing, GST, and trust regulations. Here’s a breakdown of the major proposals:

1. Underused Housing Tax (UHT) Gets the Ax – The UHT, which targeted non-resident owners of vacant properties, will be eliminated starting from the 2025 calendar year. No more UHT returns or payments after this year!

2. GST Exemption for First-Time Home Buyers – The government is making it easier for Canadians to own their first home by eliminating GST on new homes up to $1 million and reducing GST on homes valued between $1 million and $1.5 million. This will immediately lower the cost of newly built homes.

3. No More Luxury Tax on Aircraft and Vessels – In a big win for high-net-worth individuals, the luxury tax on aircraft and vessels valued above certain thresholds will be removed, effective immediately.

4. Immediate Expensing for Manufacturing Buildings – Manufacturers can now immediately expense eligible buildings used for manufacturing or processing, providing a 100% deduction in the first year.

5. Strengthening Trust Regulations – The 21-year rule for personal trusts has been tightened, expanding the anti-avoidance rules to include indirect trust-to-trust transfers, ensuring that trusts can’t sidestep tax deferral.

6. Canada Carbon Rebate (CCR) Ends – With the federal fuel charge being eliminated, the final CCR payment will be made in April 2025, and no further payments will be processed after October 2026.

7. Personal Income Tax Reduction: A middle-class tax cut will reduce the lowest federal income tax rate from 15% to 14%, starting July 1, 2025.

8. Bare-trust reporting: Deferred to 2026.

🌟 Exciting things are on the horizon! 🌟

We’re thrilled to share that something new is coming soon to Jatinder Hundal Inc. — a change that will help us serve our clients and community even better.

Stay tuned for our upcoming announcement! We can’t wait to share what’s next and continue growing together with your support. 🙌