New First Home Savings Account: everything you want to know
Department of Finance releases details today that outline the age limit and allow unused contribution room to be carried forward
Top Stories in Tax
Draft legislation addresses trust reporting, anti-flipping rules
The legislation also covered changes to RRSP and RRIF reporting, charity disbursements and more
- By: Melissa Shin
- August 9, 2022 August 9, 2022
- 15:32
Feds soften banks’ recovery dividend in draft legislation
However, the bank and insurer surtax remains at 1.5% for profits over $100M
- By: Melissa Shin
- August 9, 2022 August 9, 2022
- 14:27
New and upgraded tax credits coming for clients
The Liberal government is moving ahead with tax proposals
- By: Mark Burgess
- August 9, 2022 August 9, 2022
- 14:16
CRA says it has $1.4 billion in uncashed cheques sitting in its coffers
The agency will be sending e-notifications to thousands of Canadians
- By: The Canadian Press
- August 8, 2022 August 8, 2022
- 15:00
Tips for drawing down funds in retirement
Help clients prioritize the most tax-efficient assets
- By: Maddie Johnson
- August 2, 2022 August 2, 2022
- 16:30
Canada could lower taxes and remain fiscally viable, says PBO
Report from the parliamentary budget officer also finds that Canada's debt level is sustainable over the long term
- By: The Canadian Press
- July 28, 2022 July 28, 2022
- 15:42
Canadians receiving an average of $2,053 in tax refunds, CRA says
The agency has processed 29.1 million tax returns so far this year
- By: Rudy Mezzetta
- July 26, 2022 July 26, 2022
- 13:34
Prescribed rate set to rise to 3% in Q4
As rates rise, opportunity to achieve tax savings via a family loan strategy narrows
- By: Rudy Mezzetta
- July 20, 2022 July 20, 2022
- 09:54
Luxury tax coming Sept. 1, but draft regulations still pending
Draft regulations, to be released shortly, will provide some relief to certain vehicle manufacturers
- By: Staff
- July 19, 2022 July 19, 2022
- 11:34
Ontario amends estate forms, again, to clarify instructions
The province aims to streamline probate applications and speed the court review process
- By: Rudy Mezzetta
- July 13, 2022 July 13, 2022
- 13:39
Helping your clients talk to kids about money
The conversation should reflect their age and stage of life
- By: Maddie Johnson
- June 29, 2022 June 29, 2022
- 12:30
Busy agenda for Finance in second half of 2022
Here's a list of consultations and pending draft legislation on key tax proposals
- By: Rudy Mezzetta
- June 29, 2022 June 27, 2022
- 09:00
Ottawa lost average of $22 billion a year in unpaid tax from 2014-2018: CRA
The agency released its first report on Canada's overall tax gap
- By: The Canadian Press
- June 28, 2022 June 28, 2022
- 15:32
Liberal tax promise tracker, summer edition
Here’s the status of proposals that matter to your clients
- By: Melissa Shin, Rudy Mezzetta
- June 27, 2022 July 19, 2022
- 11:08
Budget bill receives royal assent
Luxury tax and increased eligibility for the disability tax credit are now law as Bill C-19 passes
- By: Rudy Mezzetta
- June 24, 2022 June 24, 2022
- 12:18
Breaking down the ‘executor’s year’
Some beneficiaries are entitled to interest on their inheritance starting one year after death
- By: Rudy Mezzetta
- May 9, 2022 May 2, 2022
- 10:00
Estate planning with TFSAs
Avoid the tax consequences of not distributing a TFSA quickly after the account holder dies
- By: Curtis Davis
- May 9, 2022 May 5, 2022
- 10:00
What your clients should know about real estate renos and repairs
For the best tax treatment, distinguish between current and capital expenses
- By: Vivek Bansal
- May 2, 2022 May 2, 2022
- 15:04