The clock is ticking with the tax deadline fast approaching. But it’s okay — you have time to breathe and gather yourself before filing. We’re here to offer some last-minute tax tips and reminders to help you meet your personal deadline successfully, while ensuring you have a stress-free tax season. Here are some things to […]
Read MoreThe promise of spring brings with it many things. New beginnings, new greenery and flowers in bloom, and the arrival of the deadline to file your income taxes on April 30th. OK… admittedly, the last one is not quite the same as the first two but, with these simple spring-cleaning steps, you’ll be more than […]
Read MoreSuccessfully managing your business taxes is vital to ensuring financial success for you and your employees. Just when you think you have it all under control, they go and change the rules again. Here are the top-4 changes to be aware of for your business in 2024: Canada Pension Plan With new maximum pensionable earnings, […]
Read MoreIt’s that time of year again. The air is turning cooler, the days are shorter, and the annual tax season is right around the corner. If you’re like many, you’re already dreading the piles of paperwork, receipt chasing, and organizational headaches. Sound like you? Here are some top tips and tricks for both individuals and […]
Read MoreFamily trusts have undergone massive amounts of changes in the past few years. The government has been targeting family trusts as they view the tax attributes as unfair, however, there are still numerous benefits of family trusts aside from the tax attributes. Our tax group is well versed in the constant changes in reporting requirements, trustee requirements and disclosures to assist in all aspects of family trusts.
Read MoreWhen preparing to file business taxes, it’s essential to have all your financial records and documentation organized to avoid any complications or penalties. In this blog we’ll outline some of the most important things you need to have prepared ahead of the deadline, for both incorporated and unincorporated businesses.
Read MoreThis Tax Minute is devoted to reminding our clients what circumstances might trigger the PSB provisions and the effects if those provisions are triggered.
Read MoreOn June 9, 2022 Bill C-8 received Royal Assent making the Underused Housing Tax Act (“UHTA”) law, requiring certain owners of residential property in Canada to file returns annually.
Read MoreA prescribed rate loan is a loan made from a higher income earning spouse to a lower income earning spouse, adult family member, minor child or family trust at the “prescribed rate of interest”. The use of such a loan can transfer income from a higher income earner to a lower income earner, tax the income at lower tax rates and reduce the family’s overall tax burden.
Read MoreIn the past, bare trusts typically did not have any reporting requirements and were disregarded for income tax purposes. The draft legislation, if passed as drafted, imposes new reporting requirements on bare trusts requiring them to file income tax returns.
Read More