The best high-interest savings accounts in Canada for 2024 + MORE Jan 2nd

You’ll want to bookmark the MoneySense guide for 2023 personal income taxes. We will be updating it frequently, as information becomes available and deadlines approach. Plus, we get answers from the experts you won’t find anywhere else, thanks to our Ask MoneySense and Ask A Planner columns. But, first, let’s look at the upcoming deadlines.

What’s new for taxes?
New alternative minimum tax changes: As of January 1, 2024, the AMT rate is 20.5% (previously 15%). Essentially, the AMT is a minimum level of tax for Canadians who claim certain deductions, exemptions and/or credits to reduce how much personal income tax they pay. The change doesn’t apply to 2023 income tax returns, though, and thankfully it doesn’t apply to most Canadians.

Deadline extended for underused housing tax (UHT): For residential property owners with vacant or underused real estate who owed the UHT from their 2022 income tax return and have yet to pay it, know that the Canada Revenue Agency (CRA) extended the due date to April 30, 2024, with penalties waived…

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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.

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Why trust us

MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

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