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Publications - Budget

Ontario Budget 2024

 – On March 26, 2024, the Ontario government presented its 2024 Budget – Building a Better Ontario.

Blog - SR&ED

Understanding SR&ED Claims:

 – A Case Study on Solar-Powered Shingles Scientific Research & Experimental Development (SR&ED) claims are a vital aspect of Canada’s tax […]

Blog - Tax Group

Holding Companies and the Cost of Foreign Dividends

 – In the case of investment income earned through a corporation, there is a tax cost once the corporation pays its after-tax income out to shareholders as dividends, as follows:

Publications

Tax Facts and Figures – December 2023

 – Tax Facts and Figures is produced by Welch LLP as an information service with the understanding that it does not […]

Blog

2023 Personal income tax updates – Canada and US

 – With personal tax filing season just around the corner, we thought we would take this opportunity to outline some of the recent changes that will impact Canadian and US personal tax filings for the 2023 year.

Blog - Tax Group

Are You Ready For The New Trust Reporting Requirements?

 – the new trust reporting and disclosure requirements have been a hot topic for tax advisors for several years. After much anticipation, the new legislation is finally effective and applies to trusts with taxation years ending on or after December 31, 2023.

Blog - Tax Group

2023 Year-End Tax Planning

 – With 2023 coming to an end, now is a good time to discuss year-end tax planning strategies with your Welch advisor. We can help you review your tax situation and advise on the best course of action, considering the issues and upcoming changes noted in this blog:

Blog - Business Advice

Enhanced GST Rental Rebate for Purpose Built Rental Housing

 – The stated purpose of the enhanced GST rental rebate is to incentivize construction of rental homes for Canadians. The enhanced rebate will apply to new purpose-built rental housing construction projects that begin on or after September 14, 2023, and on or before December 31, 2030.

Enhanced Ontario Regional Opportunities Investment Tax Credit

Blog - Tax Group

Enhanced Ontario Regional Opportunities Investment Tax Credit

 – This enhanced ROITC is only available for eligible investments that are acquired and become available for use by December 31, 2023. As of January 1, 2024, the maximum refundable credit available for eligible expenditures will drop back to $45,000.

Blog - Tax Group

Purchasing a capital asset?  Consider buying it now to advance your tax savings.

 – If you are considering purchasing an asset to use in your business in early 2024 you should really consider advancing that purchase to take advantage of these rules. The advantage of the advanced deduction to reduce overall taxable income in the current year and potential cash savings for those companies that would otherwise have a tax bill is clear. 

Blog - Tax Group

Employer Health Tax in BC – Is It Affecting My Business?

 – Effective January 1, 2019, BC resident employers are subject to BC EHT. If a corporation’s registered office is in BC and it does not have a PE elsewhere in Canada, it will be considered a BC resident employer and must consider the BC EHT implications.

Blog - Business Advice

Underused Housing Tax (UHT) Deadline Coming Soon

 – The initial deadline to comply with the compliance requirements was set for April 30, 2023; however, CRA has provided a first-year transitional relief and extended the deadline to October 31, 2023.

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