The cost of TFSA contributions for non-residents
Case study explains the consequences
Top Stories in Tax
Help clients prepare for a serious illness
Clients may be more open to discussing serious illness planning than death planning
- By: Melissa Shin
- September 26, 2023 September 26, 2023
- 16:29
CRA offers no relief on stiff penalties for late-filing UHT returns
Tax agency releases underused housing tax self-assessment tool
- By: Rudy Mezzetta
- September 25, 2023 September 25, 2023
- 13:30
Alberta downplaying pension plan proposal risk, experts say
Broad estimates and generous assumptions may mean the APP is less viable than it seems
- By: Rudy Mezzetta
- September 22, 2023 September 22, 2023
- 16:28
Lawyers temporarily exempted from CRA’s mandatory disclosure requirements
The Federation of Law Societies of Canada argued that the new regime violates the Charter of Rights and Freedoms
- By: Michael McKiernan
- September 15, 2023 September 15, 2023
- 12:37
Ottawa to remove GST on new rental housing, extends CEBA loan deadline
The federal government also is calling on grocers to stabilize prices
- By: Dylan Robertson, The Canadian Press
- September 15, 2023 September 15, 2023
- 08:41
Does the underused housing tax apply to 24 Sussex Drive?
The Canada Revenue Agency's extended deadline to file a UHT return and pay any tax is approaching
- By: Rudy Mezzetta
- September 12, 2023 September 12, 2023
- 10:00
Updated tax-avoidance proposals include new penalty
Tax lawyers express concerns about overreach as Ottawa proposes to revamp the general anti-avoidance rule
- By: Michael McKiernan
- September 12, 2023 September 11, 2023
- 06:00
CRA announces prescribed rate for Q4
Interest rate Canadians must pay on overdue tax will remain 9%
- By: Rudy Mezzetta
- September 11, 2023 September 12, 2023
- 10:50
CRA offers minor relief on reportable transactions
The 90-day deadline for the first mandatory disclosures under the new law is Sept. 20
- By: Michael McKiernan
- September 11, 2023 September 11, 2023
- 10:26
New alternative minimum tax regime to raise $2.6B: PBO
Canadians making above $300,000 to contribute 98% of total AMT
- By: Rudy Mezzetta
- September 8, 2023 September 8, 2023
- 16:13
IRS plans crackdown on 1,600 millionaires to collect back taxes
Artificial intelligence is playing a big role in identifying wealthy tax dodgers
- By: Fatima Hussein, The Associated Press
- September 8, 2023 September 8, 2023
- 11:56
Help clients address an underfunded pension
Don’t let outdated pension rules threaten your client’s retirement plans
- By: Lea Koiv and William C. Kennedy
- September 7, 2023 September 7, 2023
- 18:27
Review finds at least 120 CRA employees claimed Covid benefits while employed
The CRA said in July that it had let 20 employees go as a result of its CERB investigation
- By: The Canadian Press
- September 1, 2023 September 1, 2023
- 12:13
Ongoing cost of living crisis should trigger another housing benefit payment: Singh
The first $500 top-up was rolled out just before Christmas and distributed $402 million
- By: Mia Rabson, The Canadian Press
- September 1, 2023 September 1, 2023
- 08:44
Why high earners and business owners may not have fully funded pensions
Current regulations are outdated and artificially cap contributions
- By: Lea Koiv and William C. Kennedy
- August 25, 2023 August 25, 2023
- 16:54
Do executors have to accept the role?
What to know before administering an estate
- By: Rudy Mezzetta
- August 18, 2023 August 18, 2023
- 15:01
CRA releases new form for reporting beneficial ownership of trusts
Trustees must use Schedule 15 to report names, addresses and tax information numbers for beneficiaries
- By: Rudy Mezzetta
- June 30, 2023 June 30, 2023
- 13:18
Feds release draft changes to pension rules for “unlocatable” members
Draft rules are intended to help administrators match beneficiaries with unclaimed pension benefits
- By: Rudy Mezzetta
- June 27, 2023 June 27, 2023
- 17:13
Canadians still underusing TFSAs
Accountholders' unused TFSA contribution room exceeded the market value of their plans at almost all income levels
- By: Rudy Mezzetta
- July 20, 2023 July 20, 2023
- 16:38
Understanding the underused housing tax
If your client is an affected owner, they must file a UHT return by Oct. 31 to avoid penalties
- By: Frank Di Pietro
- May 15, 2023 June 25, 2023
- 09:39
Understanding the CPP death benefit
The amount has been falling in real terms
- By: Lea Koiv
- May 12, 2023 June 30, 2023
- 10:59