5 BULLET FRIDAYS - Tax Mechanic News, Tips, Strategies

Welcome to Tax Mechanic Insights! 📬

🔔 Important Notice: Direct Deposit Changes for EFILERS & Taxpayers

📅 Effective March 24, 2025 | 📍 Issued by: Canada Revenue Agency (CRA)

To ensure the highest level of security and integrity within Canada’s tax system, the CRA is making a key update to how direct deposit information is managed for individuals and businesses.

🚫 What’s Changing?
Starting March 24, 2025, the CRA will no longer accept direct deposit registrations or changes via EFILE or by phone. This change is a direct response to evolving cybersecurity threats and is part of CRA’s ongoing commitment to protect sensitive taxpayer data.

✅ How to Update Direct Deposit Information

📬 By Mail (If needed)

• Complete the Canada Direct Deposit Enrolment Form

• Mail it to the Receiver General for Canada

🔐 Protect Your Information — Be Cyber Smart!

🛡️ Here’s what you can do:

• Monitor your CRA account regularly for unauthorized changes

• Use unique, strong passwords and update them often

• Keep your contact info current

• Install and maintain antivirus software

• Report any suspicious activity immediately to CRA

📲 Learn more: GetCyberSafe.ca

🎬 How 3 YouTube Channels Became a $3B Powerhouse

🎙️ Episode 690 – The Smartest YouTube Rollup You’ve Never Heard Of
📢 Hosted by: Sam Parr & Shaan Puri
🎧 Listen Now → 🔗 Click here to tune in

💡 What’s Inside This Game-Changing Episode?

Meet the man behind the boldest digital media move of the decade: turning just 3 kids’ YouTube channels into a $3 Billion empire 💰. Sam & Shaan unpack one of the most strategic rollups the internet has ever seen—and what we can all learn from it. 📈

🎙️ Episode Highlights

🎯 Why You Can’t Miss This:

✅ Uncover a $3B blueprint for digital success
✅ IRL vs. digital — where the real leverage lies
✅ Founder mindsets & tools powering exponential growth

🔍 Exploring Private Mortgage Lenders: A Smarter Path to Financing

In today’s dynamic lending environment, private mortgage lenders are gaining traction as a strategic alternative for borrowers who may not qualify for traditional bank financing. Whether you're navigating credit challenges or seeking a short-term funding solution, private lenders offer tailored approaches designed to meet modern financial needs.

💡 Why Consider Private Mortgage Lending?

Private mortgage lenders stand out for their:

• 📉 Credit Flexibility – More accommodating for borrowers with low or damaged credit.

• 👨‍💼 Self-Employed Support – Great for entrepreneurs or freelancers with non-traditional income.

• ⏱️ Short-Term Solutions – Ideal for urgent cash flow needs or transitional financing.

✔️ Key Benefits at a Glance

• No rigid credit thresholds

• Quick funding approvals

• Collateral-based lending decisions

• Flexible repayment timelines

• Property-centric evaluations over income-only assessments

💬 Expert Insight, Personalized for You

If you’re unsure whether this route is right for you, Genelle, your next-level mortgage expert, is ready to help. With deep knowledge of the private lending space, she offers clear, informed guidance tailored to your goals and circumstances.

📞 Ready to learn more?
Let’s talk options. Your financial flexibility starts with a conversation. Reach out to Genelle today and take your next step confidently.

📧 Contact:  416-854-7697 👈
🌐 Website: https://nextlevelmortgage.ca/

📈 TFSA Contribution Limit Could Rise to $12K: A Strategic Shift for Canadian Investors

📢 Proposed by: Conservative Leader Pierre Poilievre
🏦 Potential Contribution Limit: $12,000/year
🎯 Purpose: Drive investment directly into Canadian companies

💼 A New Incentive to Invest in Canada

Conservative Leader Pierre Poilievre has announced a proposal that could reshape the future of Canadian savings and economic growth:

✅ An additional $5,000/year TFSA contribution
💼 Only applicable if invested in Canadian-owned businesses

This move is designed to keep capital at home, encourage innovation, and reward those who help fuel Canada's economy.

🔍 Key Highlights

📊 18M+ Canadians already have a TFSA
💰 $7,000 current annual limit (2024)
📈 $102,000 total eligible room for long-term savers
📉 $44,987 average balance today
💸 Tax-free growth and withdrawals

Poilievre describes the plan as a “Canada First tax cut,” aimed at empowering everyday investors while boosting domestic business and job creation.

💬 Why This Matters

✔️ Supports Canadian entrepreneurship
✔️ Encourages long-term investing
✔️ Makes the TFSA more powerful and inclusive

If implemented, this change could have significant tax advantages for investors — and a powerful ripple effect on Canadian business growth.

Source: CBC News – Poilievre to hike TFSA contribution limit by $5K for those who invest in Canadian companies

🧰 The Tax Mechanic’s 7-Step System (As Explained by Fraser)

🎥 Fraser breaks down the process for stress-free tax filing — here's a quick snapshot:

@taxmechanic

Tax Mechanic – We Fix Your Taxes, Fast & Stress-Free! DM to book a call #tax #taxtok #fyp #taxtip #Canada #Toronto #cra #taxfraud #canadat... See more

📞 Book your free consultation today — Let’s fix it, step by step.

Reach Out: For expert assistance, contact us today. 🌟💼 (Email - [email protected])

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