Knowledge
Thoughts, opinions and trends – everything, all in one place.
12 result(s)
The Capital Gains Tax Rate – Talked About a Lot, But No Change….Yet
March 21, 2023 – Just to be clear, it is not the actual tax rate that would be increased but it would be the percentage of the capital gain that is included in income – currently 50% and generally accepted that, if increased, would go to 75%.
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.
New Trust Reporting and Disclosure Requirements
November 10, 2022 – The proposed new trust reporting and disclosure requirements have been a hot topic for tax advisors since they were first […]
Personal Services Businesses- Understanding What They Are and the Implications
September 27, 2022 – It seems that more individuals are using corporations to carry on and report their income from their consulting-type business.
No Better Time To Explore Ontario Than This Summer!
July 29, 2022 – After two years of cancelled or postponed travel plans due to COVID-19, it seems like everyone is taking trips this summer. Why not avoid the lines and chaos at the airport and explore Ontario instead? You might even get a tax credit.
Prescribed Rate Set to Double July 1, 2022
May 27, 2022 – With all that is going on in the world these days, it is difficult to keep up with what to do or not to do. We are here to tell you that to act now, will be to your benefit when it comes to taking advantage of a tax planning opportunity that can save you money.
For Individuals – Who has to Pay Tax Instalments?
May 17, 2022 – My personal tax filing has been simple. Historically, my total income included a T4 slip issued by Welch LLP and a nominal amount of investment income. In 2021, I had to dispose of a significant portion of my investment portfolio to fund a home renovation project.
Small Business Deduction – Some Welcome News For Growing Businesses
April 14, 2022 – Canadian-controlled private corporations (“CCPC”) are entitled to a reduced tax rate in respect of active business income earned. In Ontario, […]
New Scientific Research & Experimental Development (SR&ED) forms for 2021
November 02, 2020 – On October 30, 2020 the CRA released three updated forms for taxpayers filing a SR&ED claim. The adjusted forms can […]
The 2019 Federal budget: More SR&ED Credits for profitable SMEs
April 03, 2019 – Before the 2019 March federal budget, a small and medium enterprise (SME) that was a Canadian-controlled private corporation (CCPC) would […]
IRAP + SR&ED Leads to BIG returns
March 25, 2014 – As a business owner, it’s important to maintain your cash flow and it can be difficult when you feel like […]
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