CG Wealth Management March 2025 Newsletter

As we turn the page on February and the bitter cold it brought to Saskatchewan, I wanted to send a couple of reminders as we start income tax season.

March 3rd was the last day to contribute to your RRSP or a Spousal RRSP and receive the tax deduction for the 2024 tax year.
Investment companies and employers had until the end of February to send out their investment tax slips for registered accounts (RRSP, RIF, FHSA, etc.) and T4s. So, if you were expecting any of these slips in the mail, you may have to wait a few more business days before receiving them.

Investment companies have until the end of March to send out their investment tax slips for non-registered accounts.
If you are interested in having your tax returns completed by Glen Koshman, as noted in last month’s newsletter, please let me know and we will be happy to send you instructions on when and where to submit your income tax information.

Enjoy this month’s edition of our newsletter and be sure to take advantage of the nicer spring weather that we should experience this March!

-Chris Getzlaf, Partner at CG Wealth Management

The top headlines in the financial markets in February were:

The main markets were slightly down on the month, despite posting all time highs mid-month. The S&P/TSX, the was slightly down -0.44% and the S&P was down -1.31%.
All major six banks in Canada reported earnings in the last week in February. Every single one of them topped analyst expectations for earnings.

The top headlines in the broader macroeconomy that we paid attention to in January were:

The Consumer Price Index (CPI), aka inflation, rose 1.9% year-over-year in January, following an increase of 1.8% in December, staying at or below the Bank of Canada’s 2% target for a sixth straight month.
The central bank next sets the benchmark overnight rate on March 12. Economists are split into two camps, with one expecting the bank to keep cutting rates and other seeing it pausing amid rising uncertainties.
U.S. tariffs on Canadian exports were paused for the month of February. On March 4, 2025, U.S. tariffs of 25 per cent on Canadian goods, and 10 per cent on energy exports from Canada imported into the U.S. from Canada, came into effect. The U.S. has indicated that this action is in response to national security concerns, particularly related to illegal immigration and the flow of fentanyl and other drugs into the U.S.
In response to the State’s tariffs, the Canadian government announced it’s first set of countermeasures, which included imposing tariffs on $30 billion in goods imported from the States.
The U.S. has also announced that it may impose additional 25 per cent tariffs on certain industries, including steel, aluminum and autos on March 12.

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CG Wealth Management March Newsletter