Thoughts, opinions and trends – everything, all in one place.
New Underused Housing Tax (UHT)
March 20, 2023 – Effective January 1, 2022, new legislation came into effect in Canada, and with that, additional annual tax filing requirements with severe penalties for non-compliance.
New Residential Property Anti-Flipping Tax Rules
March 17, 2023 – In an effort to turn down the heat on the housing market and make homes more affordable, the Federal government has approved new legislation to implement residential “anti-flipping” tax rules. The new “anti-flipping” tax rules will apply to residential properties sold on or after January 1, 2023.
The New Ontario Business Registry
September 08, 2021 – The Ontario government recently announced the Ontario Business Registry, which would allow corporations incorporated under the laws of Ontario to […]
New Stock Option Rules (Bill C-30) effective July 1, 2021
July 26, 2021 – On June 29, 2021 Parliament passed legislation (Bill C-30) to implement measures from the 2021 Federal Budget. One of those […]
Benefits and Credits to Consider for the 2021 Tax Year
July 06, 2021 – As we exit the 2020 tax year, it’s never too early to start looking ahead to the benefits and credits […]
Form PD27 – Mandatory Subsidy Reporting Requirement for Employers
January 18, 2021 – The Canada Revenue Agency (CRA) is requiring all eligible businesses, partnerships, non-profits, charities and sole proprietors with a payroll account […]
Non-Resident Withholding Tax On Canadian Rental Income
January 23, 2020 – It is not surprising that many non-residents of Canada (whether it be foreign investors or Canadian emigrants) who own and […]
RRSPs and the headaches of excess contributions
December 03, 2019 – Using a registered retirement savings plan (RRSP) is a great method of reducing your personal net income and deferring your […]
Statute-Barred Corporate Refunds
February 25, 2019 – Overview In general any taxpayer who has overpaid their taxes (federal or provincial), CPP, EI, GST/HST, payroll source deductions etc […]
What To Do When The Canada Revenue Agency Contacts You?
March 20, 2018 – The Reach of the Canada Revenue Agency The CRA is not restricted to simply auditing businesses, and will therefore verify […]
CRA Contacts You, What Do You Do?
February 06, 2018 – The reach of the Canadian Revenue Agency is increasing every day and more and more audits for income tax, GST/HST, […]
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