Knowledge
Thoughts, opinions and trends – everything, all in one place.
21 result(s)
GST/HST Tax Holiday
January 03, 2025 – The proposed legislation received Royal Assent on December 12, 2024, just in time for the proposed start date of December 14, 2024. The holiday is set to end on February 15, 2025. The following items are subject to the tax holiday:
Welch LLP Annual Accounting and Tax Technical Update for Not For Profit 2024
November 06, 2024 – Our expert speakers explore issues related to Accounting and Tax Standards, along with other topics vital to your non-profit organization or charity to help you prepare for the upcoming year.
Welch LLP Annual Accounting and Tax Technical Update for Private Enterprises 2024
October 09, 2024 – Gain insight for the year ahead. Our virtual Private Enterprise Accounting & Tax Update webinar will take place on October 9th at 10am.
New Clean Technology Investment Tax Credit
September 12, 2024 – The CTITC is a refundable tax credit available to taxpayers that make eligible investments in clean technology property that become available for use between March 28, 2023 and December 31, 2025. The credit varies depending on a variety of factors described below but can equate to as much as 30% of the cost of qualifying assets.
Holding Companies and the Cost of Foreign Dividends
March 11, 2024 – 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:
2023 Year-End Tax Planning
December 05, 2023 – 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:
Enhanced GST Rental Rebate for Purpose Built Rental Housing
November 15, 2023 – 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.
Purchasing a capital asset? Consider buying it now to advance your tax savings.
September 30, 2023 – 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.
Not For Profit Accounting & Tax Updates 2023
October 25, 2023 – Our expert speakers explore issues related to Accounting and Tax Standards, along with other topics vital to your non-profit organization to help you prepare for the upcoming year.
Increased Interest Rates – Don’t Forget About CRA
July 25, 2023 – When we think of interest rates and how they have increased so dramatically over the last year or so we think of mortgages, lines of credit, credit cards and other forms of bank debt. But there is another creditor that may be looking to be paid – the Canada Revenue Agency (CRA).
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.
Expense Reimbursements and GST/HST
January 11, 2023 – A question we regularly hear from our clients is “what is the correct way to deal with expense reimbursements from a GST/HST perspective?”
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